Statistics and Business Intelligence (KC7021)

This paper explores the critical role of statistics and business intelligence (BI) in modern business decision-making, with particular relevance to students and professionals at Northumbria University. It begins by explaining the foundations of statistics, distinguishing between descriptive statistics (e.g., mean, median, standard deviation) and inferential statistics (e.g., hypothesis testing, regression analysis). These tools allow businesses to understand data, identify trends, and make fo...