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Application of Statistics in Different Fields

04 Dec, 2020 759861

Statistics Definition, Meaning and Analysis 

Statistical analysis is a study of collecting, analyzing, organizing, 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 clearly indicate that the academic discipline has a wide 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 capita income
  • Unemployment
  • Population growth rates
  • Housing
  • Schooling medical facilities

Many researchers, promoters portray this information to influence their results. Now statistics leverage a central position in almost every field, including industry, commerce, trade, physics, chemistry, economics, mathematics, biology, botany, psychology, astronomy, etc., and thus, the application of statistics is very necessary to use. It mostly helps in classification, organization, and summarization of the facts and drawing conclusions. Nowadays, students are also looking for dissertation help on this topic, as it is the most trendy topic of the time.

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

  1. Mathematics:The formulas used in math are reliable, but to get more precision and exactness, statistics methods are important. In fact, it is called the branch of applied math. There are common techniques that 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. 
  1. 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, and this can be done by using its concepts, which make the decision-making easy. He strategizes the marketing, finance, production, 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.
  1. Economics:There are so many concepts of economics that are completely dependent on statistics. All the data collected to find out the national income, employment, inflation, etc., are interpreted through it. In fact, the theory of demand and supply, 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.
  1. Country’s Administration:Many national policies are decided using statistical methods, and administrative decisions are taken based on its data. Statistics provides 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.
  1. 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. 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, density of objects in the universe without any error, but statistics formulas do this with the best probability.
  1. Banking:When someone deposits his money in banks, the idea is that he will not withdraw the amount in the near future. 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 and at the same time ascertaining the estimated day for the claim.
  1. 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.
  1. Natural and Social Science:Almost all fields of science such as biology, chemistry, physics, etc., use statistical methods for experimenting and analyzing their results. In biology, it is used in biostatistics, biometrics, which includes investigating medicines, pharmacy, agriculture, fishery, etc.

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

Sociology is also based on the subject of analyzing and interpret data and test 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, communicate information, data analysis, etc. If you are a statistics student, then you can decide your field you want to opt for 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 know 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 complete process is divided into 4 major steps, namely- 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 process of planning involves choosing the right type of instruments (surveys, interviews, etc.), who to talk with, and how to analyze the research findings. Moreover, the application of statistics in mathematics requires a student to spend ample time in planning. Also, the term 'instruments' used here refers to the tools which are used for conducting the study.

    But writing a research paper is not easy without developing a mind that thinks statistically. One can learn all the formulas and methods, but real expertise comes from a thought process trained in the subject.
  1. Organizing the Data: Here 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, there are a variety of software programs available that can help you to organize the data well. The application of statistics in business and management is better understood when you follow this step.
  1. 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. 
  1. Presenting the Data: The idea behind this step is to make the findings more powerful and interesting. The best way to presentthe data effectively is via graphical elements like tables, graphs, diagrams. Developing the relationship between the data will further help to identify the profitable possibilities as well. Moreover, it is the best way to demonstrate compelling arguments.

By, now you are well versed with the area of application of 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. 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 assumptions that are of linear nature. The process encourages one to use modern methods and integrate them into research. This helps in analyzing data based on the situations around 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. The principle of statistical thinking allows the factoring in of such unexpected events, but they should not have implications on the core research. These events are only for the purpose of 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.

The importance of statistical thinking is that one should learn from the overall trends and infer the reasons behind it. As it is a scientific study, it can be provided as proof for the sake of discussions. When a person starts thinking in terms of statistics, the only thing that matters is what the data is telling you. Any evidence given 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 done has covered all aspects of the topic.

Students are needed to 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 analyze any data, and this 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 because of which students tend to take up statistics as their major subject. These can vary from student to student and region to region. 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 analyzed 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. This requires students to take up 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 is needed to represent it in a manner 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 Thinking: There is an age-old saying that numbers never lie. This means that whatever is represented in numbers is never false. That’s why numbers are called the language of God by many. This can be understood by the fact that humans only started to think critically when they started to represent things in numbers. They understood death only when they realized that 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 Consumer: There are several statistical tricks used by advertisers 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 analyze the data to find out 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 the claims of a company. 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 in making 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 like; it helps you in reading journals that use advanced statistics to analyze data. If you are writing a research paper based on such journals, it is important that you have a good knowledge of the subject to make sense of the data.

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How Can the World Benefit From the Applications of Statistics?

The application of statistics is very significant in several fields critical for human existence on the planet Earth. This can be understood by the fact 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 analyze 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 be used to measure the spread of certain diseases and the pressure created by it 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 in the meantime. These graphs can also be used to develop a strategy of containing the viruses by feeding real data in models for future projections.
  1. Geo-Political Stability: Social scientists keep records of countries' social structure 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. 
  1. Government Policies: The countries of the world are all different in compositions. 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 policies that are needed based on the area. For example, some areas may have a high literacy rate but may be affected by bad drinking water. 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.
  1. Sustainable Transport System: Such projects can not be undertaken without doing a feasibility study, which is 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 estimated cost of the project and decide on how much tax is needed to be collected to sustain and spend on the maintenance. A project without statistics of feasibility may easily run into losses and may end up abandoned.
  1. Education and Jobs: The world is changing very fast. There are new areas of the study discovered every week, and old areas are becoming saturated. Similarly, there are new types of jobs 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. 
  1. Natural Resources: The resources needed on the planet are fast depleting with the growing population. The most affected people are those who can’t afford these or are deprived. Statisticians can easily calculate the sustainable number of people that can live 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 be used to 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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