Brand Differentiation Statistic
Statistics can be used for making sales predictions, fiscal analysis of capital expenditure projects, constructing profit plans for a new product, setting up production quantities, and making a sampling analysis to determine the quality of a product. Statistical improvements mean the use of statistical methods for the quality improvement of products and services. A great amount of data is collected and then processed under different statistical methods and as a result, a more reliable and better product or service is formed. These statistical methods include different mathematical formulas, models, and techniques. Mostly two main methods that can be used these are: 1. Descriptive statistics (the use of mean, median, standards, deviation, etc.) Descriptive statistics are very important in business because if you simply present your raw data it would be hard to visualize what the data was showing, especially if there was a lot of it. Therefore it enables you to present t