Statistics can be defined as the collection, analysis, and interpretation of data. It is important in many areas including business, economics, social science, and banking. In business, statistics helps plan production and check product quality. It plays a major role in economics by allowing the study of market structures and economic problems. Social statistics help measure and assess impacts of policies on people's lives. Bankers use statistics to estimate deposits and loan requests.

1. Statistics in Deferent
Areas
The process of bringing or returning something to a normal condition or state.
"the normalization of the situation will make the area more conducive to business activities"
normalization can have a range of meanings.[1] In the simplest cases, normalization of ratings means adjusting values measured on different scales to a notionally common scale, often prior to averaging. In more complicated cases, normalization may refer to more sophisticated adjustments where the intention is to bring the entire probability distributions of
adjusted values into alignment

2.  Definition
Statistics can be defined as the science of
collection, presentation, analysis and interpretation
of data.
Number of statisticians had made an attempt to
define statistics.

3. (a)Webster's definition:
The statistics is defined as “classified facts representing the
conditions of a people in a state – especially the facts that can
be stated in numbers or any other tabular or classified
arrangement”.
(b)Horace Secrist's definition:
“statistics means aggregate of facts , affected to a market
extent by multiplicity of causes, numerically expressed ,
enumerated or estimated according to reasonable standard of
accuracy , collected in a systematic manner, for a
predetermined purpose and placed in relation to each other.”

4. Importance of Statistics:
1. Statistical method gives tools of comparison.
2. We can get idea about the shape, spread, symmetry of
the data.
3. Uncertainities can be reduced to get reliable results.
4. Estimation, prediction is also possible using statistical
tools.
5. Inter-relation between two or more variables can be
measured using statistical techniques.
6. Statistical methods help in planning, controlling,
decision-making.

5. Statistics in different Areas:
1. Statistics in Business:
Statistics helps businessman to plan production
according to the taste of the customers, and the quality of
the products can also be checked more efficiently
by using statistical method.
Example: A number of new
Clients and total sales made
Each month.

6. Statistics in different Areas:
2. Statistics in Economics:
Statistics plays a major role in economics.
Statistics helps in the study of market structure and
understand the different economic problems.
Example:
Graphical representation
of unemployment rate
in a certain country

7. Statistics in different Areas:
3. Statistics in social science:
Social statistics are a means of investigating and testing
research questions and policy impacts across different areas of
people's lives. These observations can help our understanding of
society
For Example, we need statistics to measure poverty in the
first place and we then may want to assess the impact
and costs of a policy providing financial support to
families living in poverty.

8. Statistics in different Areas:
4. Statistics in Banking:
Bankers use statistical approaches to estimate the
number of people who will be making deposits compared
to the number of people requesting loans.
For
Example: of statistics used in banking is the FDIC's
own quarterly publication called Statistics on
Banking.

9. References:
1. En.wikipedia.org
2. Byjus.com
3. Blog.udemy.com
4. Business statistics – Dr. P.G Dixit
5. Guided by Prof. Rupali mam.

10. Thank You
The process of bringing or returning something to a normal condition or state.
"the normalization of the situation will make the area more conducive to business activities"
normalization can have a range of meanings.[1] In the simplest cases, normalization of ratings means adjusting values measured on different scales to a notionally common scale, often prior to averaging. In more complicated cases, normalization may refer to more sophisticated adjustments where the
intention is to bring the entire probability distributions of adjusted values into alignment