Browse Definitions :
Definition

statistical analysis

Contributor(s): Stan Gibilisco

Statistical analysis is a component of data analytics

In the context of business intelligence (BI), statistical analysis involves collecting and scrutinizing every data sample in a set of items from which samples can be drawn. A sample, in statistics, is a representative selection drawn from a total population

Statistical analysis can be broken down into five discrete steps, as follows:

  • Describe the nature of the data to be analyzed.
  • Explore the relation of the data to the underlying population.
  • Create a model to summarize understanding of how the data relates to the underlying population.
  • Prove (or disprove) the validity of the model.
  • Employ predictive analytics to run scenarios that will help guide future actions.

The goal of statistical analysis is to identify trends. A retail business, for example, might use statistical analysis to find patterns in unstructured and semi-structured customer data that can be used to create a more positive customer experience and increase sales. 

See an introductory Statistics tutorial:

This was last updated in July 2014

Next Steps

Is the data mining process getting simplified through SAS Enterprise Miner?

Continue Reading About statistical analysis

Join the conversation

1 comment

Send me notifications when other members comment.

Please create a username to comment.

Every part of this definition is terrible.
Statistics analysis is using the mathematics of probability and uncertainty to make inference about a population, based on a random sample from that population.
"Predictive analytics" and "data analytics" would probably be considered subcategories of statistical analysis.
Cancel

-ADS BY GOOGLE

File Extensions and File Formats

Powered by:

SearchCompliance

  • Whistleblower Protection Act

    The Whistleblower Protection Act of 1989 is a law that protects federal government employees in the United States from ...

  • smart contract

    A smart contract, also known as a cryptocontract, is a computer program that directly controls the transfer of digital currencies...

  • risk map (risk heat map)

    A risk map, also known as a risk heat map, is a data visualization tool for communicating specific risks an organization faces. A...

SearchSecurity

  • buffer underflow

    Buffer underflow, also known as buffer underrun or buffer underwrite, is a threat to data that typically occurs when the ...

  • digital signature

    A digital signature is a mathematical technique used to validate the authenticity and integrity of a message, software or digital...

  • denial-of-service attack

    A denial-of-service attack is a security event that occurs when an attacker prevents legitimate users from accessing specific ...

SearchHealthIT

SearchDisasterRecovery

  • virtual disaster recovery

    Virtual disaster recovery is a type of DR that typically involves replication and allows a user to fail over to virtualized ...

  • tabletop exercise (TTX)

    A tabletop exercise (TTX) is a disaster preparedness activity that takes participants through the process of dealing with a ...

  • risk mitigation

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a data center.

SearchStorage

  • secondary storage

    Secondary storage is storage for noncritical data that does not need to be frequently accessed.

  • Pure Storage

    Pure Storage is a provider of enterprise data flash storage solutions designed to substitute for electromechanical disk arrays.

  • yobibyte (YiB)

    A yobibyte (YiB) is a unit of measure used to describe data capacity as part of the binary system of measuring computing and ...

Close