December 28, 2016 What is Statistical Analysis?

What is Statistical Analysis?

Statistical Analysis is a kind of data analytics which involves collecting, exploring and presenting large amounts of data to discover underlying patterns and trends.

Statistics is used in almost every field to get the estimates of desired parameters.

Some Fields which do Statistical Analysis :

1. Machine Learning
2. Operations research [Finding optimal solutions to complex problems]
3. Business analytics [To develop new insights and understanding of business performance & opportunities]
4. Astrostatistics [For understanding of astronomical data.]
5. Biostatistics
6. Actuarial science[To assess risk in the insurance and finance industries.]
7. Econometrics
8. Environmental statistics
9. Epidemiology

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