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In business, "statistics" is a widely used management-and decision support tool. It is particularly applied in financial management, marketing management, and production, services and operations management. [69] [70] Statistics is also heavily used in management accounting and auditing.
Operations research (or operational research) is an interdisciplinary branch of applied mathematics and formal science that uses methods such as mathematical modeling, statistics, and algorithms to arrive at optimal or near optimal solutions to complex problems; Management science focuses on problems in the business world.
List of fields of application of statistics; List of graphical methods; List of statistical software. Comparison of statistical packages; List of graphing software; Comparison of Gaussian process software; List of stochastic processes topics; List of matrices used in statistics; Timeline of probability and statistics; List of unsolved problems ...
Analytics is the "extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions." It is a subset of business intelligence , which is a set of technologies and processes that uses data to understand and analyze business performance to drive decision-making .
Statistics is a field of inquiry that studies the collection, analysis, interpretation, and presentation of data. It is applicable to a wide variety of academic disciplines , from the physical and social sciences to the humanities ; it is also used and misused for making informed decisions in all areas of business and government .
The management scientist's mandate is to use rational, systematic and science-based techniques to inform and improve decisions of all kinds. The techniques of management science are not restricted to business applications but may be applied to military , medical, public administration , charitable groups, political groups or community groups.
Event studies are thus common to various research areas, such as accounting and finance, management, economics, marketing, information technology, law, political science, operations and supply chain management. [4] One aspect often used to structure the overall body of event studies is the breadth of the studied event types.
Statistics education is the practice of teaching and learning of statistics, along with the associated scholarly research. Statistics is both a formal science and a practical theory of scientific inquiry , and both aspects are considered in statistics education.