Benefits of Statistics – Essay Example
The paper "Benefits of Statistics" is a great example of a statistics essay. Statistics is mathematically based methods and techniques that permit to transform raw or unprocessed data into the information that has a certain sense. It makes possible to find relationships, trends, patterns or just to summarize the obtained information. Processed data help to find proper decisions in business and science (Wegner, 2007).
Managers, scientists, engineers, and even average citizens deal with information. However, the information can be useful when it is reliable, adequate, timely, accurate and easily accessible (Wegner, 2007). To obtain all these qualities it has to be properly processed. Basing on the reliable information managers can make effective decisions. Using statistics, the engineer can estimate the work of a new equipment. Pharmaceutics can evaluate whether the new drug improves health state or not. Statistical methods are a useful tool for many spheres where the information is processed.
Statistics is divided into two parts. Statistical methods concerned with the description and summarization of data are called descriptive statistics. Statistical methods concerned with the drawing conclusion from data and finding the relationships are called inferential statistics. Descriptive statistics is the first stage of data processing. When the data is properly processed, the expert can make a conclusion or a forecast using inferential statistics (Ross, 2010).
Sometimes collected data does not have any sense for the researcher. Descriptive statistics concerns with the finding minimum, maximum, average values of measured parameters and with errors of the measurement. It also permits to eliminate unreliable measurements and to compare different groups of data. For example, an engineer can compare the energy consumption of the equipment before and after making improvements, and make a conclusion about the efficiency of the improvements.
Inferential statistics permits to find out whether two or more parameters are connected, and how strong is the relationship. Inferential statistics also estimate a type of relationship between the measured parameters. Such a relationship is described by the mathematical equation. This equation (or formula) serves for the prediction of the process or for making a proper decision.
It would be impossible to rely on any measurements if the information would not be processed properly. Statistics helps to achieve this goal and provides a quantitative basis for the decisions about a process or a situation (Wegner, 2007). Quantitative information permits to make decisions that are more reliable.