Sdot Data Analysis

📉 Statistical Analysis: Drawing Insights from Data

Statistical analysis is a fundamental approach to extracting insights from data, ensuring accuracy and reliability. It is essential in scientific research, quality control, and financial forecasting.

Key statistical analysis methods include:

• Inferential Statistics – Draws conclusions from sample data to make generalizations about a larger population.
• Hypothesis Testing – Evaluates whether assumptions about data are statistically significant.
• ANOVA (Analysis of Variance) – Compares multiple groups to determine significant differences.

For example, pharmaceutical companies use statistical analysis to evaluate the effectiveness of new drugs before approval.