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8 Applications of Statistics in Real Life

Statistics plays a crucial role in various aspects of real life by providing tools and methods to analyze, interpret, and make informed decisions based on data.

The applications of statistics in daily life are reflected in decisions as trivial as taking public transportation during off-peak hours, or not. Go to the supermarket on salary collection days.

8 Applications of Statistics in Real Life

These are decisions that result from the analysis carried out based on experience and information collected in similar situations.

These applications of statistics are largely reflected in the decisions that are made on a daily basis, in most cases unconsciously.

Statistics is a science referring to data that is collected, organized and analyzed in a temporal reference framework, with the purpose of knowing averages, trends and possibilities.

The main applications of statistics in daily life

8 Main Applications And Uses Of Statistics In Real Life:

1- In the work field

Statistics is usually used in different areas of the labor field. The strategic planning of an organization is fundamentally supported by forecast and budget studies.

The control mechanisms, in charge of the compliance departments, are applied based on the historical results obtained from statistical studies.

For example, policies on the prevention of occupational accidents are developed based on compiled data related to the risk factors present in business activity.

2- In the preference for certain brands

Consumers of goods and services generally express a preference for certain brands on the market.

This trend is a product of statistical thinking according to which durability, quality and level of satisfaction is represented to a greater extent by these brands.

3- In personal finances

A person’s financial planning is the vivid example of the application of statistics in daily life.

The relationship between income and expenses determines the person’s current situation. These data serve as a historical foundation for the planning of successive commitments (projections) that require the development of certain strategies to be achieved.

4- In sports

Athletes’ records are prepared based on their performance by number of games or matches in which they have participated.

In the case of baseball players, their performance is measured by their hitting percentage, runs scored, and stolen bases.

In the case of forward footballers, the reference standard is the number of goals per games played.

The statistical data collected constitute objective elements that lead to the best use of resources and training. This is how athletes achieve their maximum performance.

5- In sales

The world of sales is planned based on detailed analysis of consumer needs, tastes and preferences.

The measurement of the quality of the service, the level of customer satisfaction and the sales strategies themselves are determined by the application of statistical techniques.

Sales teams are evaluated based on frequency tables. The results of these evaluations are converted into parameters that determine their levels of effectiveness.

6- Route optimization

Statistical information is essential to calculate transport routes and optimize them. They can range from the delivery routes of logistics companies to the air traffic of commercial aircraft.

In many mathematics or statistics faculties, a basic problem is posed in which the route of a postman must be calculated for his service to be efficient. This has subsequently been applied to practically any area in which it is necessary to control different transport fleets.

7- Sports betting

Sports betting forecasts are determined by the data that is collected and that statistics is responsible for analyzing. That is, a betting house will have higher or lower odds depending on what statistics consider most likely to happen.

9- Audience of the chains

Today, there is no receiver that can accurately control the audience of television networks. For this reason, companies dedicated to this create a statistical sample that serves as a representative scale of the population.

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