Why is statistics so prevalent in big data analytics?
1. Pervasive use – Applied in almost all kinds of industries which can be healthcare , digital media (OTT), security, marketing research , finance and banking, blockchain and many others.
2. CRM – Focuses on all kinds of CRM i.e. operational, analytical and strategic.
3. More realistic insights – Making strong impact out of the data generated through the application of objectivity rather than subjectivity
4. Ideas – generation of Ideas and testing them through hypotheses.
5. Presentation- Helps not only in analysis of data but also in its rightful presentation through the application of diverse charts and graphs.
Is this all? I suppose no. What are your views about it ?