Business statistics refers to the application of statistical methods to collect, analyse, interpret, and present data for business decision-making. It helps organizations understand performance, market trends, and customer behaviour through tools like descriptive and inferential statistics. It involves using mathematical techniques to address real-world business problems, such as forecasting sales or assessing risks. It transforms raw data, e.g., sales figures or customer surveys, into actionable insights for informed decisions.
- Lecturer : mark ugwoke