The inferential statistical analysis focuses on drawing meaningful conclusions on the basis of the data analyzed. Rather than drawing conclusions, it simply makes the complex data easy to read and understand. Given below are the 6 types of statistical analysis:ĭescriptive statistical analysis involves collecting, interpreting, analyzing, and summarizing data to present them in the form of charts, graphs, and tables. Statistical analysis involves working with numbers and is used by businesses and other institutions to make use of data to derive meaningful information. It can be defined as a science of collecting and analyzing data to identify trends and patterns and presenting them. The conclusions are drawn using statistical analysis facilitating decision-making and helping businesses make future predictions on the basis of past trends. In simple words, statistical analysis is a data analysis tool that helps draw meaningful conclusions from raw and unstructured data. Statistical analysis is a scientific tool that helps collect and analyze large amounts of data to identify common patterns and trends to convert them into meaningful information. This technique is useful for collecting the interpretations of research, developing statistical models, and planning surveys and studies. It is a method for removing bias from evaluating data by employing numerical analysis. Statistical analysis is the process of collecting and analyzing data in order to discern patterns and trends.

Statistical tools for data analysis pdf