Definition of statistics

statistics definition and imporatance

1. Definition of statistics Statistics  is the study of the collection,  analysis , interpretation, presentation, and organization of  data .

2. Statistics refer to the body of technique or methodology which has been developed for the collection, presentation and analysis of quantitative dataand for the use of such data in decision-making.

3. Scope and importance of Statistics: 1.  Statistics and planning:  Statistics in indispensable into planning in the modern age which is termed as “the age of planning”. Almost all over the world the govt. are re-storing to planning for economic development . 2.  Statistics and economics:  Statistical data and techniques of statistical analysis have to immensely useful involving economical problem. Such as wages, price, time series analysis, demand analysis. 3.  Statistics and business:  Statistics is an irresponsible tool of production control. Business executive are relying more and more on statistical techniques for studying the much and desire of the valued customers. 4.  Statistics and industry:  In industry statistics is widely used inequality control. In production engineering to find out whether the product is confirming to the specifications or not. Statistical tools, such as inspection plan, control chart etc.

4. 5.  Statistics and mathematics:  Statistics are intimately related recent advancements in statistical technique are the outcome of wide applications of mathematics. 6.  Statistics and modern science:  In medical science the statistical tools for collection, presentation and analysis of observed facts relating to causes and incidence of diseases and the result of application various drugs and medicine are of great importance. 7.  Statistics, psychology and education:  In education and physiology statistics has found wide application such as, determining or to determine the reliability and validity to a test, factor analysis etc. 8. Statistics  and war:  In war the theory of decision function can be a great assistance to the military and personal to plan “maximum destruction with minimum effort.”

5. Statistics in business and management: 1.  Marketing:  Statistical analysis is frequently used in providing information for making decision in the field of marketing. It is necessary first to find out what can be sold and then to evolve suitable strategy, so that the goods are delivered to the ultimate consumer. A skill full analysis of data on production purchasing power, man power, habits of competitors , habits of consumer, transportation cost should be considered to take any attempt to establish a new market. 2.  Production : In the field of production statistical data and method play a very important role. The decision about what to produce? How to produce? When to produce? For whom to produce is based largely on statistical analysis. 3.  Finance:  The financial organization discharging their finance function effectively depend very heavily on statistical analysis. 3.  Banking : Banking institutes are trying to establish research department within their organization for the purpose of gathering and analysis information, not only regarding their own business but also regarding general economic situation and every segment of business in which they may have interest. 

6. 4.  Investment : Statistics greatly assists investors in making clear and valued judgment in his investment decision in selecting securities which are safe and have the best prospects of yielding a good income. 5 .  Purchase:   The purchase department in discharging their function makes use of statistical data to frame suitable purchase policies such as what to buy? What quantity to buy? What time to buy? Where to buy? Whom to buy? 6 .  Accounting:  statistical data are also employed in accounting particularly in auditing function, the technique of sampling is frequently used. 7 .  Control:  the management control process combines statistical and accounting methods in making the overall budget for the coming year including sales, materials, labor and other costs, net profits and capital requirement. 

7. The supply chain comprises the suppliers of all the goods and services that go into the delivery of tourism products to consumers. It includes all suppliers of goods and services whether or not they are directly contracted by tour operators or by their agents (including ground handlers) or suppliers (including accommodation providers). Tourism supply chains involve many components - not just accommodation, transport and excursions, but also bars and restaurants, handicrafts, food production, waste disposal, and the infrastructure that supports tourism in destinations.

8. Supply chains operate through business-to-business relationships, and supply chain management delivers sustainability performance improvements alongside financial performance, by working to improve the business operations of each supplier in the supply chain. Tour operators have enormous influence over activities throughout the tourism supply chain, since they direct and influence the volume of tourism, the tourist destinations and facilities that are used. Tour operators can use this to help in promoting general improvements in sustainability performance as part of good commercial practice.

9. Sources of primary data Primary data may be obtained by applying any of the following methods: Face to Face or Personal interviews : Structured Interview Unstructured Interview Telephone interviews Observation Survey Questionnaire

10. Sources of Secondary Data: The various sources of secondary data can be divided into two broad categories: 1. Published sources, and 2. Unpublished sources. Published Sources: The governmental, international and local agencies publish statistical data, and chief among them are explained below: (a) International Publications: There are some international institutions and bodies like I.M.F, I.B.R.D, and U.N.O who publish regular and occasional reports on economic and statistical matters. (b) Official Publications of Central and State Governments:

11. Several departments of the Central and State Governments regularly publish reports on a number of subjects. They gather additional information. Some of the important publications are: The Reserve Bank of India Bulletin, Census of India, Statistical Abstracts of States, Agricultural Statistics of India, Indian Trade Journal, etc . (c)Semi- OfficialPublications : Semi-Government institutions like Municipal Corporations, District Boards, Panchayats , etc. Publish reports relating to different matters of public concern.

12. ( d)Publications of Research Institutions: Indian Statistical Institute (I.S.I), Indian Council of Agricultural Research (I.C.A.R), Indian Agricultural Statistics Research Institute (I.A.S.R.I), etc. Publish the findings of their research programmes. (e) Publications of various Commercial and Financial Institutions (f) Reports of various Committees and Commissions appointed by the Government as the Raj Committee’s Report on Agricultural Taxation, Wanchoo Committee’s Report on Taxation and Black Money, etc. are also important sources of secondary data.

13. (g) Journals and News Papers: Journals and News Papers are very important and powerful source of secondary data. Current and important materials on statistics and socio-economic problems can be obtained from journals and newspapers like Economic Times, Commerce, Capital, Indian Finance, Monthly Statistics of trade etc .

14. 2.Unpublished Sources : Unpublished data can be obtained from many unpublished sources like records maintained by various government and private offices, the theses of the numerous research scholars in the universities or institutions etc.