# What Is The Meaning Statistical Analysis

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## What is the Meaning of Statistical Analysis?

Statistical analysis is a process of collecting, organizing, analyzing, interpreting, and presenting data. It is used to draw conclusions and make decisions based on the evidence collected. Statistical analysis is used in a wide range of disciplines, including economics, education, finance, health care, marketing, psychology, sociology, and many more.

Statistical analysis is used to identify trends, patterns, and relationships between variables. It is also used to test hypotheses and make predictions. Statistical analysis can be used to make decisions about the best course of action to take in a given situation.

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The most common types of statistical analysis include descriptive statistics, inferential statistics, and predictive analytics. Descriptive statistics involve summarizing data in terms of its mean, median, mode, standard deviation, and other measures of central tendency and dispersion. Inferential statistics involve making inferences from a sample to a population. Predictive analytics involve using data to make predictions about future events.

Statistical analysis is an important part of decision making. It is used to identify relationships between variables, test hypotheses, and make predictions. By understanding the meaning of statistical analysis, individuals and organizations can make better decisions and improve their performance.