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.