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Statistics is a useful tool for the leadership ( Managers, Vice Presidents, CEO , Owner of any business etc ) to make decisions.
Example
Organizations made a bar chart to see on what weekdays their employees take maximum leaves. They found that most the employees took these unscheduled leaves on a Friday or Monday or both.
This is a simple statistical study. Lets say if you have 20,000 people working with you. Doing this study manually without statistics would take a very long time and possibility of error will also be very high. With statistics it takes only a few second to make a bar chart on Microsoft Excel.
Just one glance at the chart and you see the bar on Friday or Monday or both three times higher than other weekdays. Like they say a picture is worth a thousand words.
This information can help the management to take proper measures to reduce the number of unscheduled leaves on Fridays and Mondays.
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