statistical analysis is of vital importance for successful businessman, economists, administrators and educationists. discuss with illustrations ?
Dear Student,
Statistical analysis is of vital importance for the successful businessman, economists, administrators and educationalists because study and application of statistics in these areas help develop these areas as all these areas are required to form policies and programmes for their effective working of economy, business, or wherever it is needed. Businessmen needs to analyse the statistical data to study the market fluctuations and target audience so as to provide those products which are required and can satisfy the customers thereby increasing their profit share. Economists need to form policies which are based on the human behaviour so they need to analyse the data in order to plan regarding the poverty, unemployment, and population control which helps in the economic growth of the country. Administrators and educationalists requires the study of statistical data in order to improve the educational policies and the skills of the population who will further work for the development of the country and ultimately will lead to economic growth.
Regards
Statistical analysis is of vital importance for the successful businessman, economists, administrators and educationalists because study and application of statistics in these areas help develop these areas as all these areas are required to form policies and programmes for their effective working of economy, business, or wherever it is needed. Businessmen needs to analyse the statistical data to study the market fluctuations and target audience so as to provide those products which are required and can satisfy the customers thereby increasing their profit share. Economists need to form policies which are based on the human behaviour so they need to analyse the data in order to plan regarding the poverty, unemployment, and population control which helps in the economic growth of the country. Administrators and educationalists requires the study of statistical data in order to improve the educational policies and the skills of the population who will further work for the development of the country and ultimately will lead to economic growth.
Regards