Types of Statistics

Hi guys, In this post, we are going to discuss about types of statistics and Understanding the statistical flow. After reading this blog, you will understand the different types of statistics and approach of statistical analysis.

Generally, When we hear about statistics the first thing will pop-up in our mind is hudge subject or full of mathematical equations or hard to learn. But, if you can understand the practicality of statistics and easiness of subjet, we will not get that kind of questions when thinking about statistics.

Anything in our world is created by human beings, be it subjects or programming languages or any new technology and we are using those tools and techniques for our surviving purpose. They invented these things to help other human beings and they never made any technology as a complex thing. It is all about how you are understanding & how you are using those innovations to your purpose

Now let’s see our statistical types….

Problem Understanding

Anything starts from problem understanding, not on only on Data even in real life or personal problem or business situation first we will understand the problem then will take decision/solutions to the problem…..

“If you understand your problem clearly, that is 50% solution to your problem”

In the same way, when you are working on Data first we need to understand the data

1. What is our data
2. Is our data representing business problem or not
3. What are the variables we have(Dependent & Independent features)
4. The relation between features/variables etc.,

We always make these kinds of assumptions before doing data analysis or building machine learning algorithms

Questions to your Problem

When you want to understand your business/research problem, we must have some questions to counter. Here we have a picture reference to understand

If you apply the above 5W’s and 1H on your problem or Data then you will understand the problem. Once you understand the problem we will have some intelligence what if the problem will continue and then the solution to the problem

Consider a scenario, you are a doctor and when you are giving medication to your patient first you will understand the patient problem by asking these type of questions

1. Who is your patient?
2. What is the patient problem?
3. When did it happen?
4. Why did it happen?
5. Where did it happen?
6. How did it happen?

After applying all the above questions on your patient problem, you will understand the problem and what if the problem will continue — Human Intelligence

It is all about problem understanding and then the solution to the problem.

Now let’s discuss types of statistics

Types of Statistics

When you are working on statistics, directly or indirectly you have data at your hand. Once you have data we do some statistical analysis right??. Let’s see statistics types

Statistics classified into two types

1. Descriptive Statistics
2. Inferential Statistics

Descriptive Statistics

Descriptive Statistics all about understanding the problem/Data. Summarizing and describe data in a meaningful way. Once we have data at our hand first, we need to understand our data by doing

1. Uni-variate, Bi-variate & Multi-variate Analysis
2. Data Visualization
3. Performing EDA Analysis

Descriptive Statistics have different methods to understand data. In the next blog, I will explain about Descriptive statistics techniques

Inferential Statistics

Once we understand our business problem from descriptive statistics then we go for Inferential Statistics

This stage of statistics all about making inference and drawing conclusions from population

Example: Taking sample, building model, optimization and business solutions

Summary

To understand Descriptive and inferential

Descriptive — Describing Problem

Inference — Making Inferences & Solution

The above picture represents the flow of statistics

Thanks for reading. In the next blog, we will discuss techniques of Descriptive Statistics