How Often Do You Use Math Each Day Survey Results The Relevance of Statistical Knowledge in Today’s World

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The Relevance of Statistical Knowledge in Today’s World

Statistics is basically a mathematical science where data is first collected; then, it is analyzed, through which an explanation/interpretation is given; and finally it becomes a presentation. Data quality is improvised by statisticians in terms of experimental design and survey sampling techniques adopted by them. This is also a forecasting and prediction tool where data is used to provide inferences. Statistical knowledge is a relevant discipline in various academic organizations: in social and natural sciences and in business and government organizations. So statistics is pretty much a relevant skill for anyone who wants to succeed and make a mark in their career!

If you have a strong knowledge of mathematics, it is quite indicative that you will probably do well in your professional life as well. This skill certainly gives you an edge over others in job interviews, but only when combined with a thorough statistical knowledge.

It is a great skill to be able to calculate mathematically. However, if one does not have statistical skills to back up their mathematical knowledge, it will not be a successful career. A thorough foundation of statistics is therefore the order of the day. Companies are not looking for someone who can solve calculation problems but an employee who can make a difference to the company with relevant statistical data.

Professional achievements and the success of a company are generally measured in statistical terms. Moreover, the economic progress of a country is also measured in the same way! YXZ Company beat FMCG sales by a 25% margin – how would you interpret that if you didn’t have solid statistical knowledge? Most jobs require you to effectively demonstrate the results and trends of a given set of numbers using spreadsheet programs in a visually effective way. Therefore, it is wise to review statistics textbooks, whether borrowed or purchased, to get a fair grounding in the concept before you are an undergraduate.

So, if you want to stay up to date with statistical knowledge and skills and don’t intend to get a degree in the subject, go ahead and buy a book that will provide you with the necessary information. Education is a major investment that everyone should make, and today it has become a very expensive proposition considering the rising fees for tuition, accommodation, food and books. Books are certainly expensive and can hurt you financially if you’re on a tight budget; therefore, you should be cautious about investing in used/second-hand statistics textbooks, which will cost half the price of a new book. They can be purchased from various college bookstores and online retailers that offer books on a wide range of topics.

Given the ubiquitous nature of statistical knowledge in today’s world, it is pertinent to review at least one textbook before completing your undergraduate degree! Statistical data is everywhere; you can find it in newspapers, magazines, on television: everything is measured in percentages, ratios, diagrams, graphs. Every piece of vital information is backed up by statistical facts and figures, so it won’t do you any good to ignore the statistics.

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