This basic principle extends to all manner of statistics, from the key financial ratios of a business to the productivity calculations of a factory or the number of page views a website gets.The Future The rise of the internet and its use in data gathering, along with a rapid decline in the price of computers and data storage systems has given rise to an explosion in statistics.Examples The use of statistics in the management of a business is so pervasive that it's nearly impossible to summarize.Tags: How To Construct An EssayThesis Examples For Argumentative EssaysHeart Of Darkness Symbolism EssayNsf Grfp Personal EssayAssignment BriefGoing To A Baseball EssayEssays On SterotypesHistographical EssayAcademic Essay Database
What's measurable is almost always presented in the form of statistics.
Growing a business without the use of statistics is virtually impossible.
Credit card companies use statistical analysis to detect fraud, while drug companies use statistical analysis to determine whether new drugs work, and whether they work in large enough populations to be profitable.
Suffice to say, if there's a statistical tool, a business has a use for it.
What's important is that the method used to calculate the statistic is uniform each time.
A factory might want to simply count the number of widgets it makes.
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There's an old saying in business: If you can measure it, you can manage it.