Statistics | Meaning & Importance

What is Statistics?

The word statistics comes from the Italian word' Statista' that means statesman. In general sense, statistics may be outlined as the numerical expression of data related to a special field or event. On the other sense, it may be defined as the system of collecting, arranging, classifying, presenting, comparing and interpreting numerical data.   

Several scholars have defined statistics from their own point of view. Some popular definitions are stated here:  

1. According to Philip Enus," Statistics is the use of data to help the decision maker reach better.  opinions."   

2. According to A. I. Bowley," All statistics are numerical statements of data in any department of enquiry in relation to each other."

3. According to R. A. Fisher," The science of statistics is intuitively a branch of applied mathematics and may be regarded as mathematics applied to objective data."   

4. According to W. I. King," Statistics is the science of decision making in the field of query."

From the above definitions, in fine, we can say statistics is a special branch of applied mathematics that helps in collecting, classifying and presenting numerical data.

Statistics Meaning

Statistics means to refer the collected data and information of an event. On the other hand, in singular sense, statistics is used to refer the statistical methods.

Some scholars have defined the statistics in these two senses that are follows:

Plural Sense:

1. According to Bowley," All statistics are numerical statements of data in any department of enquiry placed in interaction to each other."

2. According to Webster," Statistics are the classified data describing the condition of the people in a state particularly those data which can be stated in figures or in tables of figures."

Read More: Probability | Classical, Mathematical, Permutation

Singular Sense:

1. According to W. I. King, "Statistics is the science of decision making in the field of uncertainty.

2. According to Seligman," Statistics in the science which deals with systems of collecting, presenting, comparing and interpreting numerical data collected to throw, some blaze on any sphere of inquiry."

Importance Of Statistics

The importance of statistics is increasing day by day with the advancement of human civilization. In the past, the statistical information was used by the statement in various decision making. But now-a-days statistics is very much important in every aspect of human life. At present the statistical information is used in economic, social. political, business and scientific activity.

The importance of statistics can be stated as follows:

1. Statistics to human welfare: From the very beginning statistics is supplying numerical information in the field of state activity. Since ancient times statistics is contributing to human welfare providing statistical data. Statistical data and systems are of great help in promoting human welfare. At present, statistics provides accurate numerical information about poverty, unemployment, hungriness, illiteracy and commerce and trade.

2. Statistics to policy set up: Statistics is very important in setting up policy because formulation of policy depends on the collection and analysis of related information. Statistics can forecast any subject through analyzing and interpreting statistical data.

3. Statistics to national planning and implementation: We know that planning and its implementation need related information. Statistics can help in national planning and its implementation providing related information. So, it is very important in planning, measurement and controlling of national plan.

4.Statistics to social and economic research: Statistics can play a vital role in social and economic research. Economic and social research needs economic and social information such as population rate, production, education system, export-import rate etc. Statistics helps the researchers providing such information.

5. Statistics to administrative functions: To perform administrative activities effectively and efficiently the administrative information is needed. Statistics can help in administrative activities providing necessary administrative information such as production policy, trade policy, monetary policy and so on.

6. To preserve previous wisdom and experience: To take proper decision, we have to need previous wisdom and experience. Statistics can help to preserve such kind of information. Statistics is considered as the warehouse of the previous knowledge and experience.

7. Statistics to business and commerce: Statistics is very much important for business and commerce. Now-a-days, we cannot think a business without statistical information. Statistics helps the businessmen providing necessary business information.

8. Statistics to other branches of science: Statistics is widely used in other science such as physics, chemistry, psychology, zoology etc.

In fine, we can say, statistics is not only a special branch of knowledge but also a applied branch of all other subjects.

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