This presentation is based on the ted video "why you should love statistics", by Alan Smith.

1. WHY YOU
SHOULD LOVE
STATISTICS

2. Statistics are about us
not as individual but as a group.

3. As social animals, we share the fascination
about how we as individuals relate to our
groups, to our peers.
And statistics in this way are at their most
powerful when they surprise us.

4. We can be blind to the obvious, and
we are also blind to our blindness.
-Daniel Kahenman

5. There's a big variation between what we
think, our perception, and the reality as
given by statistics.
We can be saved from misconception,
Thanks to Statistics!

7. India is
7th largest
country (by
area),
2nd most
populous
country after
China.....

8. Now imagine designing and managing new
products for such a large population(1.32
billion people, to be specific), without
proper statistics!
Seems tedious, right?

9. Despite the fact that India’s population has
grown steadily, the fertility rate in the country is
on the decline. The population increase can
therefore be attributed to the improvement in
infrastructure and health care which has led to
an increase in the average life expectancy.

10. And we are able to acknowledge such
achievement of the nation because we
have proper statistics of the vast data
available.

11. In a country, like India, with such vast
variety of people and culture, statistics
provide managers with more confidence in
dealing with uncertainty in spite of the
flood of available data.

12. Focusing on Big Picture
Statistical analysis of a representative
group of consumers can provide a
reasonably accurate, cost-effective
snapshot of the market with faster and
cheaper statistics.

13. Ensuring Quality
Statistics might provide the means to
measure and control production processes
to minimize variations and ensure
consistency throughout the process.

14. Statistics is the science of us,
and that’s why we should be fascinated by numbers.

15. THANK YOU