Statistics for Decision Making and Competitive Advantage

Abstract

In the increasingly competitive global arena of business in the twenty-first century, a select few business graduates distinguish themselves by enhanced decision making backed by statistics. No longer is the production of statistics confined to quantitative analysis and market research divisions in firms. Statistics are useful when they are applied to improve decision making and so are used daily by managers in each of the functional areas of business. Excel and other statistical software live in our laptops, providing immediate access to statistical tools that can be used to improve decision making.