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Is Statistical Consultant Necessary?


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Usually a sports fan will make statements about the winning and losing team. Very passionate fans may dig on the history of success or failure of certain teams. Some may place bet on certain team during a championship game hoping that the team that they bet on will win. Similarly Millions of people play the lottery everyday in a hope of winning a jack pot someday. Someone always have the winning ticket, but among the millions of participants, the chance of winning the jackpot is against you. Let us take another example of above case. People playing casino may have success or even more of failure. Who do you think is profited more the casino or the people who are playing to trying to test their luck? Undoubtedly it is the casino because otherwise they could have closed the casino.

All the above are some of the examples of the probability of success or the chances of success. Chance is the mathematical calculation of Probability of success or failure. Above mentioned examples is which takes place every day in the life of the people who do something just for fun.

But For the businesses such as finance, retail or telecommunication having employees that receive regular paychecks and customers who purchase product or services the calculation of probability of success and failure varies a lot. Unlike the above examples, it is necessary for a business to have a spirited edge in order to meet the return on investment, to have good marketing strategies to ensure whether they are targeting the right customers to achieve high success on sales at reduced cost.

The ultimate goal of each and every business should be customer satisfaction, employee satisfaction and retaining the customers because these are the important factors which help in achieving high profit. It is important to retain the existing customers because a dissatisfied customer could say about it to their friends and relatives about their unpleasant experience which creates a bad reputation to the company. You must give the customers a reason to stay or else they will jump to the competitor who satisfies their requirement. An employee who is dissatisfied will not make a full effort in development of the business.

Statistics is a mathematical science which deals with the collection of data, analysis, interpretation and presentation of data. Statistics helps in prediction and forecasting using available data. Statistical methods help in making a summary out of the available data. Patterns in the data may be classified in a way that helps in eliminating the uncertainty. These are used to make assessment about the population of interest.

Statistics is a mathematical science which requires educated and trained statisticians to make correct decision which helps the business to grow. Same as we go to doctor to save our life, it is necessary to aid the help of a statistician to save the business.

Statistician consulting is the most difficult and satisfying part of statistics. A statistical consultant solves a practical problem using mathematical science. Many statistical consultants run their own business. To be successful in business it is necessary to have a sound knowledge in statistics and an entrepreneur spirit.

Statistical consultants are necessary for the following purpose:

  • If you have questions related to general statistics or require statistical training or statistical consulting.
  • If you are in need of explanation to statistics in simple terms using a solid example.
  • If you wanted to learn “which design of experiment best suits your question?”.
  • If you need to develop models to estimate the present or to predict the future.
  • If you are in need of help using a statistical software package such as SAS.
  • If you are in need of help to interpret your statistical output and derive a conclusions from data with non-normal patterns.
  • If you are in need of help in preparing tables, graphs and listings for your report.
  • If you need assistance in combining qualitative and quantitative research methods, data analysis or data collection.
  • If you need assistance in designing a survey or questionnaire.
  • If you need help in technical writing, data mining and so on.
  • To help with determining the appropriate sample size.
  • To assist in conference or summit.

Author’s Resource:

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<a href=” http://www.statistician-consultant.com/be-an-expert-in-your-chosen-speciality/”> Data Consultant  </a>  As a Statistical, Mathematical, Data Mining, Data Analytics, Business Intelligence Consultant you are a subject expert in your chosen specialty(ies). You have your network of specialists and know where to find the data and tools you need in your area of expertise to provide the best solutions for your clients.

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Steve Michael Article's Source: http://articles.org/is-statistical-consultant-necessary/
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  • Posted On July 23, 2012
  • Published articles 10

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