5 APPLICATIONS OF STATISTICS IN REAL LIFE - CULTURE VOCABULARY - 2024

The applications of statistics in daily life are reflected in such trivial decisions as approaching public transport outside peak hours, or not going to the supermarket on salary days.

These are decisions that result from the analysis carried out based on experience and information gathered in similar situations.

These applications of statistics are largely reflected in the decisions that are taken on a daily basis, in most cases unconsciously.

Statistics is a science related to data that is collected, organized and analyzed in a temporary frame of reference, with the purpose of knowing averages, trends and possibilities.

The 5 main applications of statistics in daily life

1- In the labor field

Statistics are usually used in different areas of the labor field. The strategic planning of an organization is based fundamentally on forecasting and budget studies.

The control mechanisms, in charge of the compliance departments, are applied based on the historical results obtained from statistical studies.

For example, policies on the prevention of occupational accidents are prepared based on compiled data related to the risk factors present in business activity.

2- In the preference for certain brands

Consumers of goods and services generally show a preference for certain brands on the market.

This trend is the product of statistical thinking according to which durability, quality and the level of satisfaction are represented to a greater extent by these brands.

3- In personal finances

A person's financial planning is the vivid example of the application of statistics in daily life.

The relationship between income and expenses determines the current situation of the person. These data serve as a historical basis for planning successive commitments (projections) that require the design of certain strategies to be achieved.

4- In sports

Athletes' records are drawn up based on their performance by number of games or matches in which they have participated.

In the case of baseball players, their performance is measured by their batting percentage, runs scored, and stolen bases.

In the case of forward footballers, the benchmark is the number of goals per matches played.

The statistical data collected constitute objective elements that lead to the best use of resources and training. This is how athletes achieve their maximum performance.

5- In sales

The world of sales is planned based on detailed analysis of the needs of consumers, their tastes and preferences.

The measurement of the quality of the service, the level of customer satisfaction and the sales strategies themselves are determined by the application of statistical techniques.

Sales teams are evaluated based on frequency tables. The results of these evaluations are converted into parameters that determine their levels of effectiveness.

References

1. Application of Statistics in Daily Life. (sf). Retrieved on October 22, 2017 from: study.com
2. Living with Statistics (sf). Retrieved on October 22, 2017 from: censtatd.gov.hk
3. Statistics. (sf). Retrieved on October 22, 2017 from: encyclopedia.com
4. The Statistics of Everyday Life (August 18, 2003). In: atalogimages.wiley.com
5. Vidal, A. (sf) Probability and Statistics as Helpers in Real Life. Retrieved on October 22, 2017 from: uh.edu