Every educated citizen needs an understanding of basic statistics and tools to function in a world that is increasingly dependent on quantitative information derived from big data. The word itself is often used in several ways but we refer to it mostly as a skillset. That means it is about a statistical problem-solving methodology used to approach large quantities of data. This consists of concepts and techniques that are needed to organize, measure, and evaluate big datasets and often numerical facts. It includes procedures and most notably also the interpretation of resulting conclusions.
One of the goal of statistics in particular and data analysis in general is to support informed decisions with concrete facts. In other words knowledge of statistics helps to describe and understand numerical relationships in the data and to make better decisions. But the amount of big datasets that needs to be gathered, processed, and presented are often challenging today. Therefore techniques are needed to sift through the large quantities of data in order to identify and describe not obvious relationships in the data. This in turn can be important for decision making when facing uncertainty.
More Information about Statistics
Please check the following video in order to understand the importance of this topic:
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