Running head: RELEVANCE OF STATISTICS IN A BUSINESS CAREER
Relevance of Statistics in a Business Career
Course Number- Name of Course
RELEVANCE OF STATISTICS IN A BUSINESS CAREER
Statistics is highly applicable to businesses especially in the evaluation of the
performance of the organization. The aspects of maths, management and market research
acquired by business statistic specialists help businesses in the decision-making process.
Knowledge and skills acquired by the statistics specialists are applicable in many business
sectors ranging from financial analysis department, auditing, econometrics, marketing research
among other relevant fields (Hahn & Doganaksoy, 2011). Therefore, a business statistic
specialist ought to be well equipped with the theoretical knowledge and information concerning
the course proving a graduate with Bachelor’s Degree in Statistics from an approved institution
of high learning suitable and fit for the position in an organization.
Data collection requires the application of logical approach and skill of reporting and
ethically presenting the gathered information. The gathered information helps the managers in
decision making (Kandel et al., 2012). For instance, a statistician is required by the manager to
evaluate if the sales revenue the company achieved for the launched products in the market has
met the forecasted sales levels. Information backing the result...