The contribution and role of statistics

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New Contributor
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The contribution and role of statistics

What extent you know about

1. the current contributions of statistics to decision making under uncertainty and

2. The role of statistics in "Big data" and analytics.

New Contributor
Posts: 2

Re: The contribution and role of statistics

Posted in reply to TemesgenM

Sounds like a homework problem.

Super User
Posts: 19,869

Re: The contribution and role of statistics

Posted in reply to MOSFETtestEng

Sounded like a survey to me...or possible interview question. Vague by any means.

New Contributor
Posts: 2

Re: The contribution and role of statistics

Posted in reply to MOSFETtestEng

not at all. it is a brain storming question.

N/A
Posts: 1

Re: The contribution and role of statistics

Posted in reply to TemesgenM

Hello.  These are broad questions.  In my opinion, statistics can provide insight to help decision making under uncertainty.  I don't think the insight is always the same as the answer to the decision.  That's because correlation doesn't always imply causation. 

As for "Big data", I do think it can yield meaningful insights not possible with sampled data.  But "due diligence" can't be ignored.  Steps to clean up the data and select meaningful variables should be performed to ensure credibility.

SAS Super FREQ
Posts: 3,755

Re: The contribution and role of statistics

Posted in reply to TemesgenM
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