Business statistics is the application of statistical methods to business. It enables businesses to use data to make informed decisions about their business operations. It is a branch of statistics that deals with the collection, analysis, interpretation, presentation, and organization of data in a business.
Business statistics is used in a variety of areas, including marketing, finance, accounting, and production. It can be used to make decisions about pricing, product development, and other aspects of business operations. It can also be used to evaluate the effectiveness of marketing campaigns and to assess the financial health of a business.
Business statistics is a critical tool for businesses of all sizes. It can help businesses to understand their customers, to make better decisions about their operations, and to track their financial performance.