Applied Statistics: Basic Principles and Application

Alisa Bilal Zorić
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Alisa Bilal Zorić: Polytechnic Baltazar Zaprešić, Zaprešić, Croatia

International Journal of Innovation and Economic Development, 2021, vol. 7, issue 3, 27-33

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.

Keywords: Applied Statistics; Statistics; Big Data. (search for similar items in EconPapers)
JEL-codes: M00 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:mgs:ijoied:v:7:y:2021:i:3:p:27-33

DOI: 10.18775/ijied.1849-7551-7020.2015.73.2003

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