Statistical analysis plays a crucial role in business. It’s the method of collecting, recording and analyzing large amounts of data to discover patterns and trends. It helps in decision-making, achieving the goals and objectives of the organization and increasing revenue. It is a scientific tool used to carry out decision-making.

Statistical Analysis and Revenue Generation

The main objective of any business is to gain revenue. Statistical analysis uses big data analysis to generate more revenue.

Big data is a collection of huge volumes of data that cannot be analyzed via traditional methods. Big data is predictive information used to predict future trends.…