Day 49: What is Management Statistics and Data Analysis Theory?

Inseo Park·2021년 8월 31일
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1. TIL (Today I learned

What is Management Statistics and Data Analysis Theory?

Achievement Goals

Students learn the concepts of data and management statistics, and understand the data analysis process and application methods.

- Data forms the basis of numerical analysis and represents the results or facts of observation of the properties of the analysis object.

Management Activity consists of:
1. Data
2. Analysis
3. Output 
4. Forecasting

- Statistics consists of descriptive statistics and inferential statistics.

Descriptive statistics is the stage where you find data and analyze it using different methods and inferential statistics is the part where you analyze and interpret rich insights to then make decisions for the future.

Data can be divided into quantitative (수량형 자료), qualitative (범주형 자료), cross-sectional data, and time series data.

Quantitative data are numerical data and breaks down into discrete data and continous type of data.
Discrete are usually whole numbers that cannnot be broken down into half or in decimals. But continuous data are those that can be written down in factorial form or decimals.

The analysis procedure can be divided into the 'collection stage' and the 'analysis stage' of the data.

Management statistics are used in various ways in the business field, such as statistical analysis of general business economic data, financial analysis, economic analysis, and business economic forecasting.

These are some points I learned in my 85 minutes lecture I have to attend every day to achieve my Bachelor in Information Science in 2 years. Another side hustle is happening.

2. 3 Things to be Thankful for

  1. Thankful for having a chance to attend university online.
  2. Thankful for keeping my family safe.
  3. Thankful for allowing me to rely on you only.

3. Ideas and Things to Think About.

  1. No more time to be lazy and relaxed all the time. Time to manage time wisely and get back to hustle time. But awlays give thanks and pray.
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