Statistics is the science of the collection, organization, and interpretation of numerical data. It is the branch of mathematics that involves the use of quantified representations, models for the representation and analysis of given empirical and real data. Statistics is a developing discipline. It has been defined as the science of counting, science of averages and science of statistics and probabilities.
Some statistical measures include regression analysis, mean, kurtosis, skewness, analysis of variance and variance. Statistics has a wide variety of applications. Business analytics, econometrics, actuarial science, biostatistics, geostatistics, environmental statistics etc- are some of the fields that require the application of statistics.
There are two main branches of statistics: Descriptive statistics- This branch involves the collection and presentation of data. The presentation of data can be done in various forms like graphs, charts, tables etc. and Inferential statistics- This branch of statistics involves drawing conclusions from limited information taken on sample basis and testing the reliability of the estimates. It deals with analysis of data, making estimates ad drawing conclusions.