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The Complete Guide to Business Analytics (Collection) by Thomas H. Davenport

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26Interpretation of Statistical Analysis

Short Description

Statistical analysis involves the manipulation of data using a variety of mathematical formulae and description of situations using mathematical concepts. It enables simple description of complex situations and can give predictive insights.

The interpretation of the statistical analysis is the vital link between the manipulation of data and the practical application of the results to a real-life problem.

Background

Statistics involves summarizing, analyzing, and graphing data. It includes designing strategies for data collection and information extraction, constructing models for describing and forecasting chance phenomena, and using these models for planning and decision making.1

Statistical ...

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