Statistics for Decision Makers - 03.01 - Summarizing Distributions
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Describing Data。
"If you torture data enough it will confess"
Tools。
- Central Tendency (mean, median, etc...)
- Variability (standard deviation, etc...)
- Distribution (histograms, probability density, etc...)
Use Cases。
- Describing one or more datasets that are too big to analyse item by item
- Using fewer numbers or shapes to compare datasets (without probability)
What is Descriptive Statistics?。
- Descriptive statistics: a few numbers summarize a bigger set
- One important aspect of a distribution is where its centre is located
- How is a distribution spread out? (In other words, how much do the numbers in the distribution vary from one another?)
- Distributions can differ in shape
Descriptive Statistics and IT。
- Business Intelligence
- Dashboards
- OLAP
