Statistical Analysis

Definition updated on November 2023

What is Statistical Analysis?

Analyzing data statistically entails gathering and searching for patterns and trends in the data. It is a method for applying numerical analysis to remove bias from data evaluation. This method is beneficial for gathering research interpretations, creating statistical models, and organizing surveys and studies. In AI and ML, statistical analysis is a scientific tool that aids in the collection and analysis of massive volumes of data in order to spot recurring patterns and trends and turn them into actionable knowledge. To put it simply, statistical analysis is a technique for data analysis that helps to draw meaningful conclusions from unstructured and raw data.

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