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# What is the purpose of statistics?

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The purpose of statistics is to allow sets of data to be compared so that analysts can look for meaningful trends and changes. Analysts review the data so that they can reach conclusions regarding its meaning. Statistics allow people to see how things are or are not correlated and how a change in one variable might affect another.

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Statistics are used by marketing firms, companies that delve in the financial world, researchers, manufacturing organizations and government groups. Without statistics, the numerical information collected is useless. A goal of statistics is to find meaning in the provided data and determine what variations are meaningful and which ones occur merely by chance.

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## Related Questions

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"Residual" in statistics refers to the difference between the calculated value of the dependent variable against a predicted value. The mean and the sum of the residuals are always equal to zero, and the value is positive if the data point is above the graph and negative if below it.

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The main advantage of statistics is that information is presented in a way that is easy to analyze, which makes its conclusions easily accessible. Comparative statistical analysis allows people to identify the strengths and weaknesses of different strategies, programs, policies or products across multiple demographics, making it an indispensable tool for decision makers.

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Descriptive statistics are descriptions of the main factors of a group of data or a summary of the information. These statistics give a snapshot of the information that has been gathered. This type of information is often used when there are so many variables in a data cluster that it would be nearly impossible to list or graph every single factor of the information.