Statistics are gathering, presenting, analyzing, and interpreting numerical data. Statistics is a collection of decision-making strategies that help business people make appropriate policies. Every business person needs solid math and statistics skills. Statistics and mathematics manipulate, synthesize, and examine data for decision-making.
Statistics Meaning: The word statistics comes from the Latin 'status,' Italian 'Statista,' or German 'Statistik.' These terms signify 'Political state' in ancient times; governments were compelled to gather statistics on young males for Army recruitment. To estimate land income. Statistics is also dubbed "Political Arithmetic."