What Are The Advantages Of Statistics In Business Management And Sciences? Or Applications


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Statistical surveys for business management, social science, applications is a collective, quantitative of information and data of opinions, factual information depending on the subject/purpose etc. It's the most efficient way to collect large number of respondents' information.

Some advantages are:

1. Statistics is used to determine validity, reliability, and significance depending on what is used for in the market.

2. It can be used to collect wide range of information-attitudes, values, beliefs, past behaviors etc

3. It's easy to administer

4. There is a wealth of information because of standardized collection of data through statistical survey performed by the government, corporations, businesses, individuals etc.

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