Importance of statistics
- 1. Importance of Statistics Ideas for today and tomorrow
- 2. Facts are stubborn things, but statistics are pliable. - Mark Twain
- 3. Statistics-Definition • The practice or science of collecting and analysing numerical data in large quantities, especially for the purpose of inferring proportions in a whole from those in a representative sample.
- 4. Statistics-Importance • It is important for researchers and also consumers of research to understand statistics so that they can be informed, evaluate the credibility and usefulness of information, and make appropriate decisions.
- 5. 10 Awesome Reasons Where Statistics prove to be Important: • Weather Forecasts • Emergency Preparedness • Predicting Disease • Medical Studies • Genetics • Political Campaigns • Insurance • Consumer Goods • Quality Testing • Stock Market
- 6. Why now? What's new about statistics? • Statistics is an emergent discipline that has rapidly adapted to current challenges.. • In today's era of big data -- where the computer and network are everywhere and everything can be measured -- you need statistics to make that data useful.
- 7. Do we really trust statistics? Different statistics say different things. The International year of Statistics 2013 is the occasion to remind us of the value of: • Statistical methods. • Learning how to use them responsibly. • Statistical software as the tools of analysis. • Using statistical professionals to help us out when needed.
- 8. Statistics plays a vital role in every fields of human activity. Statisticians know how to: • Design studies • Collect trustworthy data • Analyse the data appropriately • Check assumptions • Draw reliable conclusions
- 9. Few potential statistical mishaps that commonly lead to misuse: • p-value • Faulty Questions • Biased Sample • Data Fishing • Overgeneralization • False Causality • Incorrect analysis choices • Violation of the assumptions for an analysis • Data Dredging • Data manipulation
- 10. THANK YOU