Statistical Methods in Data Analytics
Statistical analysis plays a crucial role in Data Analytics by providing methods to summarize, interpret, and make data-driven decisions.
Key Statistical Methods:
- Descriptive Statistics – Measures of central tendency (mean, median, mode) and dispersion (variance, standard deviation).
- Inferential Statistics – Hypothesis testing, confidence intervals, and regression analysis.
- Time Series Analysis – Identifying patterns and trends in time-dependent data.
- Probability Distributions – Understanding data distribution using normal, binomial, and Poisson distributions.
Applying these methods ensures that conclusions drawn from data are statistically significant and reliable.
