Descriptive Statistics Concept

Descriptive Statistics Concept

Descriptive statistics means the presentation of data with the help of numbers, tables, graph, and summaries.

Descriptive Statistics Importance

Descriptive statistics converts raw data into information. Such information can be used for different purposes including planning, decision making.Descriptive statistics play important role in data manipulation. Different kind of summaries and averages are calculated for data analyses and decision making.

Descriptive Statistics Uses

Descriptive statics is used for data analyses, decision making, presentations to the management, planning, goal setting, etc.

1.    Data Analyses

Descriptive statistics basic uses include data analyses. In business world data analyses is a fundamental for effective decision making.

2.    Decision Making

Descriptive statics provides necessary tools and information to meet decision making need of management.

3.    Planning

Descriptive statics is used in business planning & budgeting. Descriptive statistics provides necessary information for

future planning including budgeting.