Statistics is the subject that involves the study of how to collect, summarize and interpret numerical data. Many organizations and proffessions make decisions based on important conclusions which are drawn from data. For instance, data like unemployment figures or inflation figures used to make policy decisions by government officials.

To make investment decisions, finanical planners use recent trends in stock market prices. Also, physicians and hospitals use data on the effectiveness of drugs and surgical procedures to provide patients with the best possible treatments.