The Decision Maker's Handbook to Data Science: A Guide for Non-Technical Executives, Managers, and Founders

© Stylianos Kampakis  2020

S. KampakisThe Decision Maker's Handbook to Data Sciencehttps://doi.org/10.1007/978-1-4842-5494-3_6

6. A Short Introduction to Statistics

Stylianos Kampakis¹ 

(1)

London, UK

 

Statistics has two branches, namely, descriptive statistics and inferential statistics (Figure 6-1).

Figure 6-1

The two branches of the science of statistics

Descriptive statistics is what most people associate with the word statistics. These are things that you’ve probably done in high school. They include things like collecting data, using summary metrics such as the mean, and visualizing data.

Inferential statistics is what most statisticians think of when ...