What Is The Importance Os Statistics In The Field Of Banking And Finance?

If any bank want to implement any new policy or anything new then they conduct an institutional by state-wise, rural and urban, educated or uneducated, female and male and so on.... Based on the information gathered they choose which place we can get good response for that.

Again based on the probability theory banks decided that how many peoples can deposit in our bank and how long, and how much amount. Based on this they provide loan and deposit in other institutional finance and borrowing shares.

Based on statistics onl;y they can compare with other banking sectors and find future growth and so on.

Statistics allows the calculation of risk and probability.

In history, statistics has been widely used for working out the percentages of the various phenomenon and occurrences during different eras.

In banking, statistics is used to provide the aggregate financial information along with structural data, that is the number of institutions and branches etc.
Statistics can also be used to calculate the percentages of different people using the several facilities in banking.

Statistics is important in psychology because it helps in Research methods. It also helps in measuring the different variables and the frequency with which they occur, which in turn plays a role in deducing results and theories.