It is commonly used in various fields such as research, business, economics, social sciences, and healthcare. Descriptive statistics helps researchers and analysts to describe the central tendency (mean, median, mode), dispersion (range, variance, and standard deviation), and shape of the distribution of a dataset.
Example 2: Sales Tracking
Retail companies often use descriptive statisticslike the mean, median, mode, standard deviation Example 3: Health Insurance
Health insurance companies often use statistics and probability to determine how likely it is that certain individuals will spend a certain amount on Example 4: Traffic
Traffic engineers regularly use statistics to monitor total traffic in different areas of a city Example 5: Investing
Investors use statistics and probability to assess how likely it is that a certain investment will pay off. For example Example 6: Medical Studies
Statistics is regularly used in medical studies to understand how different factors are related. For example Example 7: Manufacturing
Statistics is often used in manufacturing to monitor the efficiency of different processes. For example Example 8: Urban Planning
Statistics is regularly used by urban planners to decide how many apartments, shops, stores, etc The commonly used descriptive statistics are measures of center: the mean, median, and mode. Some real life examples of the use of descriptive statistics are the
use of exam scores and census data.
5 Examples of Descriptive Analytics
- 1. Traffic and Engagement Reports One example of descriptive analytics is reporting. ...
- 2. Financial Statement Analysis Another example of descriptive analytics that may be familiar to you is financial statement analysis. ...
You want to study the popularity of different leisure activities by gender. You distribute a survey and ask participants how many times they did each of the following in the past year: Go to a library Watch a movie at a theater Visit a national park Your data set is the collection of responses to the survey.
