Statistics

Statistics is like the math of data. It’s all about collecting, analyzing, interpreting, and presenting numbers so they make sense. In business intelligence and data analytics, statistics is a key tool because it turns raw data—like sales figures or survey responses—into useful information that businesses can act on.

Businesses use statistics to understand what’s happening now and predict what might happen in the future. They might calculate the average number of items a customer buys or the percentage of people who click on a digital ad. This helps them spot trends, test out theories, or figure out if changes they make are actually working.

By using statistics wisely, businesses can make choices that are based on evidence rather than just hunches. It’s about making educated guesses and decisions with a solid foundation of numbers to back them up. Whether they’re figuring out which products to stock up on or how well their customer service is doing, statistics give businesses a clearer picture of their world, one number at a time.