Abstract
Statistics is an old scientific discipline, but its application has never been more topical. Statistics is a branch of mathematics that deals with the collection, analysis, interpretation and presentation of data. Increased computing power had a huge impact on the popularisation of the practice of statistical science. With new technologies such as the internet of things, we start to collect data from various sources like web server logs, online transaction records, tweet streams, social media, data from all kinds of sensors. With increased access to big data, there is a need for professionals with applied statistics knowledge who can visualize and analyze data, make sense of it, and use it to solve real complex problems. Applied statistics is the root of data analysis, and the practice of applied statistics involves analyzing data to help define and determine organizational needs. Today we can find applied statistics in various fields such as medicine, information technology, engineering, finance, marketing, accounting, business, etc. The goal of this paper is to clarify the applied statistics, its principles and to present its application in various fields.
Highlights
Math is a big part of all of our lives especially statistics
Statistics is the branch of mathematics that deals with the collection, analysis, interpretation and representation of data
Applied statistics is a collection of applicable statistical methods and the application of these methods
Summary
Math is a big part of all of our lives especially statistics. Statistics is the branch of mathematics that deals with the collection, analysis, interpretation and representation of data. We use statistics to analyze what is happening in the world around us. It is a combination of methods which permit us to make reasonable optimal decisions in cases of uncertainty (Sachs, 2012). Statistics compare data through mean, median and mode. We live in the information age and most of the daily information is determined mathematically using statistics. With the help of statistics we can know what happened in the past and what may occur in the future. The goals of the paper are: (i) to present definition and principles of applied statistics; (ii) to elaborate similarities and differences between Descriptive and Interferential statistics, (iii) to give an overview of the most used statistical tools, (iv) to outline the benefits of proper statistical interpretation of data and (v) to point out various applications of statistics
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