Statistics has umpteen applications in the business world therefore having a better understanding of statistics and ability to apply statistics in to business problems is very essential to be successful manager in this cutthroat competitive business scenario. Business statistics is the branch of statistics which deals with the statistical theories, principles and tools which are very much required in the business. Business statistics is very much useful in making business decisions at all levels such as functional level or top level. For example, concepts such as regression, probability, Hypothesis testing and Charts are frequently used business statistical tools. These are applied in all areas of business whether it is Finance or Marketing or HR. The decisions in all areas of business could be formulated with the help of these business statistics concepts.

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Some of the frequently used Business Statistics topics:

•   Describing Populations and Samples
•   Probabilities and Random Variables
•   Probability Distributions
•   Inferential Statistics
•   Sampling of business data
•   Simple linear regression and correlation
•   Time series analysis