Mathematical & Statistical modeling are widely used in the industry for various purposes. There usage has been increased drastically in Quality & Analytics domain over a period of time. Now days various companies are using these things for new product development, baking artificial intelligence into new the developments & many more. It brings a value to the product because over a general thinking it gives a new ways of decision making to the management & helps them in taking the strategic decisions.
Various products have been launched which have made these models very simple & easy to use. Even with minor training users can deploy the models very effectively. Even in small businesses this is of a good use. Learning Statistics can help businesses to go for forecasting for planning and taking decisions on a certain hypotheses created. In Stats, we get meaningful information from huge amount of raw data and make a decision about nature of a population based on a sample taken. In a simple Statistics we do estimating the population based on the sample.
The aim of learning Statistics is to understand and be able to interpret statistical calculations performed by others. Uses of statistics in Business are everywhere; such as Quality, Market Research, Planning of new products, Reporting, Human Resourcing, Management, Reporting & many more. Now days its usage has been extended to gaming like casinos, Cricket matches predictions. Based on the data only every event can be predicted. Many natural disasters that were unavoidable can also be predicted with good accuracy & this is the magic of statistical & mathematical modeling only.
The things that were not possible few years back like detecting the cancer in human body is now very well possible using these models. Every industry is making use of it & getting the benefits. As a user & a teacher of Statistics I would like to recommend everyone to learn it & gets it in flavor in the common ways of working.