Statistical analysis is mainly about gathering scientific data and uncovering their patterns and trends. It is another way of “statistics.” After gathering data, you can analyze it to:
Summaries the data. For example, make a graphical representation like the pie chart.
Find important measures of location. For example, the mean, which states the average (or “middling”) number, is in a data set.
Evaluate measures of spread:
These help you identify the type of data, whether tightly clustered or more spread out.
The standard deviation is an extensively used spread measure; it shows you how your data is spread out.
Make future predictions based on past behaviour. It is exclusively used in retail, manufacturing industries, banking, sports, or any institution where knowing future trends would profit.