Application of Statistics in Different Fields

23 Jul 2022 781920
Statistics applications

Statistics Definition, Meaning, and Analysis 

Statistical analysis involves collecting, analyzing, organizing, and interpreting data. It plays a crucial role in every field of human activity. They are numerically expressed facts to represent and speculate the samples using logical reasoning. The prior sentences indicate that the academic discipline has a broad scope in real life.

What Is the Importance of Statistics in Daily Life?

The subject plays a vital role in many spheres of life and has immense practical applications. For instance, it is used to determine the following:

  • Per capital income
  • Unemployment
  • Population growth rates
  • Housing
  • Schooling medical facilities

Many researchers and promoters portray this information to influence their results. Now statistics leverage a central position in almost every field, including industry, commerce, trade, physicschemistryeconomics, mathematics, biology, botany, psychology, astronomy, etc. Thus, the application of statistics in various fields is essential to use. It mainly helps classify, organise, and summarise of the facts, and draw conclusions. Nowadays, students are also looking for dissertation help in UK on this topic, as it is the most trendy topic of the time.

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The application of statistics is extensive, so let us discuss the importance of statistics in different fields where the subject methods are commonly implemented: 

1. Mathematics:

The formulas used in math are reliable, but statistics methods are essential to get more precision and exactness. Hence, it is called the branch of applied math. There are standard techniques both the fields have adopted from each other such as statistical methods, namely probability, dispersion, etc., used in math, and mathematical concepts like integration and algebra are used in the former. 

2. Business:

Business students must be aware of the importance of statistics in the field. There are times when a businessman has to make quick decisions, which can be done by using its concepts, which make the decision-making easy. He strategizes the marketing, finance, production, and resource through it. What are the tastes and preferences of consumers? What should be the quality? What should be the target market? All these questions are answered using statistical tools.

3. Economics:

There are so many concepts of economics that are entirely dependent on statistics. For example, all the data collected to find out the national income, employment, inflation, etc., are interpreted through it. Likewise, the theory of demand and supply and the relationship between exports and imports are studied through this subject. The perfect example of this is the census; the bureau uses its formulas for calculating a country’s population.

4. Country’s Administration:

Many national policies are decided using statistical methods, and administrative decisions are based on data. It is because statistics provide the most accurate data, which helps the government to make budgets and estimate expenditures and revenues. It is also used to revise the pay scale of employees in case the cost of living is rising.

5. Astronomy:

When scientists measured the distance between sun and earth, or moon and earth, they did not use any measurement scale or ruler for that. Instead, it was these statistical methods that helped them to find out the best answers and estimates that are possible. It is difficult to measure the mass, size, distance and density of objects in the universe without any error, but statistics formulas do this with the best probability.

6. Banking:

When someone deposits his money in banks, the idea is that he will not withdraw the amount shortly. So, banks lend this money to other customers to earn profit in the form of interest. They use a statistical approach for this service. They compare the number of people making deposits against the number of people requesting loans while simultaneously ascertaining the estimated day for the claim.

7. Accounting and Auditing:

Although accounting needs exactness in calculating the profit and loss of the business, certain decisions can be taken according to approximation, which is done through statistics. For example, sampling may be used to find out the current trends in the market as it does not require any precision.

8. Natural and Social Science:

Almost all fields of science, such as biology, chemistry, physics, etc., use statistical methods for experimenting and analyzing their results. For example, in biology, it is used in biostatistics and biometrics, which includes investigating medicines, pharmacy, agriculture, fishery, etc.

9. Statistics and Programming:

Statistical programming refers to the computation of techniques that can quickly help in the data analysis process. It is necessary to make sense of the data by using all the statistical concepts and methodology usually achieved by writing a code. Also, with the help of the programming language, different tasks are performed that are known as statistical programming.

Similarly, probability theory is used in physics while estimating a large population; the results of thermodynamics use statistical tools.

Sociology is also based on analyzing and interpreting data and testing hypotheses.

Statistics is a varied subject, and there are many other uses of it in different fields related to daily human activities. Few other examples are weather forecasting, communication information, data analysis, etc. If you are a statistics student, you can decide the field you want to choose according to your interest.

Reading so far, the importance of statistics must be known to you. Moving on further, let us dig into the stages involved in the statistical process. Read the subsequent section to learn more.

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What Are the Stages of Statistical Process? Here’s the Answer!

By now, you must have got the answer to the question, "What is the application of statistics in real life?" Now, let us flash a light on the steps followed by statisticians for the collection, analysis, organization, presentation, and interpretation of data.

The process is divided into four major steps: planning a study, organizing the data, interpreting the data, and presenting the data. Below is a detailed explanation of each step.

  1. Planning a Study: Processing statistical information is impossible without planning, especially for the subjects which require investigation. The planning process involves choosing the right type of instruments (surveys, interviews, etc.), who to talk with, and how to analyse the research findings. Moreover, applying statistics in mathematics requires a student to spend ample time planning. Also, the term 'instruments' refers to the tools used for conducting the study.
    But writing a research paper is not easy without developing a mind that thinks statistically. Of course, one can learn all the formulas and methods, but real expertise comes from a thought process trained in the subject.
  2. Organizing the DataHere comes the time to organize the gathered information for obtaining a valid answer. Doing so will help you to observe the patterns and other significant relationships between the factual information. Also, a variety of software programs available that can help you to organize the data well. Applying statistics in business and management is better understood when you follow this step.
  3. Interpreting the Data: This step is the core of statistics. Interpretations may have lasting repercussions, and it becomes necessary to ensure that they are valid assumptions backed with mathematical reasoning. However, accomplishing this step requires par critical & analytical skills with sound subject knowledge. Let us now jump to the last stage, viz., the presentation of data. 
  4. Presenting the DataThe idea behind this step is to make the findings more powerful and interesting. The best way to present data effectively is via graphical elements like tables, graphs, and Developing the relationship between the data will further help identify the profitable possibilities.  Moreover, it is the best way to demonstrate compelling arguments.

By now, you are well versed in applying statistics along with the steps involved in the same.  Having read so far, you will not face any challenges while writing a well-researched academic paper.

But writing a research paper is not easy without developing a mind that thinks statistically. Of course, one can learn all the formulas and methods, but real expertise comes from a thought process trained in the subject.

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Statistical Thinking - Role and Importance

Its role has been to promote the human mind to think based on the data available. It discourages drawing linear assumptions. The process encourages one to use modern methods and integrate them into research. It helps in analyzing data based on the situations and not what has been predicted historically. The purpose of this thinking is to avoid any predictions as the data changes with the changing times. Uncertainty plays an important role in this process, and it should be factored in regardless of the type of research that you are conducting.

Exceptions are an integral part of any research. Statistical thinking allows the factoring in such unexpected events, but they should not have implications on the core research. These events are only for future case studies. The research produced should be reproducible, and the data and analytical methods should be made public for the credibility of the research.

Statistical thinking is important because one should learn from the overall trends and infer the reasons behind them. As it is a scientific study, it can be provided as proof for discussions. When a person starts thinking about statistics, the only thing that matters is what the data tells you. Any evidence against the theory should also be based on data, or it is not admissible in the discussions. Exceptions are part of the discussion but only to show that the research has covered all aspects of the topic.

Students must study statistics regardless of their core subject to develop logical thinking and scientific temperament. Other than this, the study can help a person develop a thinking mind based on the fact and not be dependent on others reasoning and opinions. One should be able to analyse any data, which has made the subject so important to be studied in modern times. 

Why Has the Study of Statistics Become Important in Modern Times?

There are several reasons why students tend to take up statistics as their major subject.  These can vary from student to student and region to region. However, as discussed above, the subject is useful in most fields of work that one can think of.

Some students take up the subject because they get excited when big data is analysed to produce small but significant results. It can be due to the motivation of resolving a long-standing societal or policy issue. It can be anything, but one thing is sure that whenever raw data is presented, everybody starts looking for some statistician to make sense of it. Here are three reasons that play a significant role in compelling students to take up the subject.

  • Conducting Research: No research is complete without data and its analysis. Also, the analysis is not possible without the knowledge of statistics. It requires students to take basic courses in the subject to develop enough skills to complete their research. Research involves huge data collection exercises, a compilation of it, and running it through software to get meaningful and presentable results. Readers don’t understand raw data, and one must represent it so that even a novice can understand its implications. One must also predetermine the point of their research and use the data to make their argument. Lack of planning may result in you collecting irrelevant numbers. 
  • Critical and Analytic ThinkingThere is an age-old saying that numbers never lie. It means that whatever is represented in numbers is never false. That’s why numbers are called the language of God by many. It can be understood that humans only started to think critically when they started to represent things in numbers. For example, they understood death only when they realized it means one person has left their community. Kingdoms planned their attacks for years using statistics to develop winning strategies.
    In the modern world, people can be seen analyzing the fatalities from various diseases and assigning their priorities based on the data. This has revealed several surprising data points like; more people die because of pollution than cancer. This means that attention is needed to be shifted as the world develops new problems, and critical thinking plays an important part in it.
  • Informed ConsumerAdvertisers use several statistical tricks to mislead consumers.  For example, every news channel on TV claims to be the number one channel. This is nothing but a play of statisticians with numbers. Similarly, FMCG companies present manipulated data to promote their product. An informed and thinking consumer can easily look past these tricks and analyse the data to find the truth hidden in the numbers.

There is a great need for us to become more informed consumers, and one must ask for data supporting a company's claims. Unfortunately, some companies even project wrong and incomplete data to hide the negatives. A statistics-savvy consumer can find these holes in the data and help others make informed choices.

These were three important reasons to learn statistics that enhance your skills and make you a more informed citizen. One can find many other reasons; it helps you read journals that use advanced statistics to analyse data. If you are writing a research paper based on such journals, you must have a good knowledge of the subject to make sense of the data.

How Can the World Benefit From the Applications of Statistics?

The application of statistics is significant in several fields critical for human existence on Earth. The fact can understand this after every few million years; there is a record of global level destruction event. Scientists are trying to study the conditions present at the time of these events and analyse the chances of it happening again. This is just one of many examples of statistics being important for us. Here are some more areas where statistics can be applied for the benefit of humanity;

  1. Pandemics: Statistics is a tool that can measure the spread of certain diseases and the pressure it creates on the health care system. The functions in the subject can be used to predict the number of future cases and how many beds, doctors, hospitals, etc., will be needed to control the situation. One can also predict the possible timeline of vaccine manufacturing and the number of deaths that can be incurred. These graphs can also be used to develop a strategy of containing the viruses by feeding real data in models for future projections.
  2. Geo-Political Stability: Social scientists keep records of countries' social structures and political situations. They can use this data and feed it into preexisting models to predict the chances of a coup or revolution. These predictions can help the UN to prepare for a global political crisis in advance. 
  3. Government Policies: The countries of the world are all different in composition. This means that each of them requires a different approach to government policies and welfare measures. This is not possible without the help of a good statistician. One needs to identify the target group, estimate the number of people to be benefited from the policies, and estimate the cost of the exchequer. Statisticians use random samples of data collected on the ground and evaluate it on some fixed parameters. This gives them a clear understanding of the needed For example, some areas may have a high literacy rate but may be affected by bad drinking water. On the other hand, some may have abundant water for human use, but they may be affected by a lack of jobs and are thus still in very poor conditions.
  4. Sustainable Transport System: Such projects can not be undertaken without doing a feasibility study, mostly based on statistics. There have been several cases of useless projects undertaken in ego and without doing an analysis. For example, one can study the palm islands of the middle east. Similar, redundant projects can be found across the globe. When a transport system is to be undertaken, one must use the data of current traffic and goods being hauled on the route. They must also study the future growth of these factors and design the project with long-term goals. One can also calculate the project's estimated cost and decide on how much tax is needed to be collected to sustain and spend on the maintenance. A project without feasibility statistics may easily run into losses and end up abandoned.
  5. Education and Jobs: The world is changing very fast. New areas of the study are discovered every week, and old areas are becoming saturated. Similarly, new types of jobs are being formed, and old jobs are becoming redundant. For example, self-driving cars and trucks v/s drivers. This needs the statisticians to study the changing patterns and areas of the job market to move education in the right direction. One study the number of graduates that will be needed in the future in a particular subject and how many of them are needed to learn new skills to remain relevant in the future job markets. Statistics play an important role in determining the rate of future unemployment because of an outdated education system. 

Natural Resources: The resources needed on the planet are fast depleting with the growing population. The most affected are those who can’t afford these or are deprived. Statisticians can easily calculate the sustainable number of people living on the earth. They can also find out how innovation and diversion of resources can sustain all. For example, the annual food wastage in the US alone can sustain huge populations of starving Africa. Statistics can spread awareness and motivate people to live a healthy, sustainable, and holistic life.

The applications of statistics are many, and students are often found wanting for help when they have raw research data. All students may not be trained in the methods of statistics and may end up messing up their results. This raises the need for experts who can analyze the data and produce results that are scientific and completely based on statistical analysis.

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