relevance of statistics in management education

Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. USA. To do well in statistics one must develop and use formal logical thinking abilities that are both high level and creative. (Find a price that suits your requirements), The Research paper on Sampling And Data Collection Plan 3, The Term Paper on Importance Of Research In School Society And Teacher, Systems Development/Project Management and Outsourcing, Information Systems and Knowledge Management, School Management System Information Education-related Processes, Critical Essay On Public School System Reform, School And College Learn Teacher Children. To do so, the use of statistical data is crucial. Importance of Statistics to Industry and Business. The modern age is termed as the ‘age of planning’ and almost all organisations in the government or business or management are resorting to planning for efficient working and for formulating policy decision. ( Log Out /  Importance of Statistics for Managers 05 Jun 2014, by Dr. Veena K. N. in Blog. These decisions or predictions would be easy if the data always sent a clear message, but the message is often obscured by variability.” “Statistics provides tools for describing variability in data … It is help to find how research affects in your community. It helps the teacher to provide the most exact type of description: • When we want to know about the pupil we administer a test or observe the child. Statistics in education is important because it enables the calculation and adequate summary of the results in a meaningful and convenient form: statistics gives order to the data. Sampling could be a problem sometimes because it requires a large sample group. This way we could control production. It allows them to make smarter decisions. What I mean by this is that you will know what product or service pleases the customer more and this will help you make connections. According to a research by KPMG, an incredible 70% of organizations have suffered at least one project failure in the prior 12 months and 50% of respondents indicatedthat their project failed to consistently achieve what they set out to achieve. Role of Statistics in Education 1. In Mathematics – It helps in describing measurements and providing accuracy of theories. On a day-to-day basis, we conduct quality… Analytical methods like statistics support the understanding of … 2. The head teacher may also be requested to give such account to Parents Teachers Association or Schools Board of Governors. Statistics involves making decisions, and in the business world, you often have to make a quick decision then and there.Using statistics, you can plan the production according to what the customer likes and wants, and you can check the quali… This assertion is in line with Levin and Rubin (1998:8) when they say, “Data can assist decision makers in educated guesses … in given situations.”. 53. ... Systems Development, Project Management, and Outsourcing. To accomplish set goals in an organisation, the school manager or administrator must plan, implement such plans and evaluate success. According to Kendrick (1997:1) statistics are, “numbers that help us find patterns in data, such as averages and medians.” Thus statistics looks at how to collect, organise, analyze and interpret numerical information from data. In this paper the writer is going to discuss the importance of statistics in her area of study which is Educational Management. It allows them to make smarter decisions. 3. This article basically shows how statistics is important in business and how it provides them with a greater confidence. In this process we obtained scores and then interpret these score in order to take decisions. Basically, statistics helps to provide evidence for your findings. It also aids a school manager to work effectively and efficiently to meet set goals. Quantitative research guides health care decision makers with statistics--numerical data collected from measurements or observation that describe the characteristics of specific population samples. The role of statistics in business management is pivotal. Statistics is indispensable in planning—may it be in business, economics or government level. The accuracy of statistical data is very important. (2004) Statistical needs for educational management, Ibadan, Regina sons Book Publishers. The fourth reason to study statistics is to be an informed consumer. Change ), You are commenting using your Twitter account. You will always need evidence to back up your point or else how will people know what you are saying is accurate. Did you know that statistics can help you make connections? The collection of statistics is important in educational management as highlighted above as it enables one as a school manager to perform duties with precision using calculated guesses. Increasingly, decisions once based on management intuition and experience now rely on empirical evidence drawn from statistical data. (1998) Introduction to Statistics and Data Analysis for the Behavioural Sciences, New York, W H. Freeman & Company. Statistics enables us to study these scores objectively. Decrease in enrolment figures may signal stiff competition from a nearby school. Here you can order a professional work. To put a value to projects failure, for every $1B invested in the US, $122M was wasted due to lacking project performance. Kendrick J.R. (1997) Social Statistics: An Introduction using SPSS for Windows, Boston, McGraw-Hill. ARTICLE – ” The Importance of Statistics in Management Decision Making” by John T. Willia This article basically shows how statistics is important in business and how it provides them with a greater confidence. In this article we will discuss about the Importance of Statistics in Education. • Then from the result we describe about the pupil’s performance or trait. Related: What Your Horoscope Says About Your Work Style For organizations this means wasted resources, time, and efforts. If you’re a business major, you’re familiar with the role statistics plays in your field. In steering the direction of your business, statistics can be used to guide long-term forecasts for strategic planning. Having confidence in business is very important. What's important is that the method used to calculate the statistic is uniform each time. Education research is a field of inquiry aimed at advancing ... For the school manager to project the amount of fund that would be needed for the next session there is a need to have data on quantities of stationery needed by both learners and teachers, the number of ancillary staff paid from the school coffers and (3)other running costs. (Find a price that suits your requirements), * Save 10% on First Order, discount promo code "096K2". Similarly, the opposite is also true. Role of Statistics in Education 4. Through the help of statistics, we will know how much to buy so that we don’t waste money. The field of education has a number of challenges in terms of policy planning, and statistics are particularly important as they often provide some of the only objective information that administrators use when making organizational and curricular decisions. Here you can order a professional work. 7 Shocking Statistics Illustrating the Importance of Global Education. It helps one to make the data precise, concise, and meaningful and to express it in a way that the persons involved will understand easily. To do so, the use of statistical data is crucial. Data on enrolment, class size and number of teachers will enable a school manager to establish if the school is growing or reducing in size. The project manager is charged with ... systems activities revolved around heavy data processing and number crunching routines”. Durosaro, D.O. ( Log Out /  ( Log Out /  The seven phases of the systems ... as the project manager. 4. For example, you might gather data about a small number of product units to make an estimate about the quality level of an entire batch of production; this is known as statistical sampling and is used to determine whether to … Uses and importance of statistics can be seen in fields as diverse as agriculture, mathematics, healthcare, engineering, decision making, geography, sports, sociology, marketing, government, nursing, planning, banking, economics, research, education, medicine, accounting, business, technology, psychology, business economics, business management, industry, physics, biology as well as … The organization of students data and grades, for example, allows for administrators to better evaluate any school-wide issues that emerge. Some of the importance may be summarized below – It helps in collecting data either numerically or otherwise. Systems ... ... reachable and usable 7 8 3. Tertiary education is indeed a big investment, so looking for the right university takes time, patience, and dedication. Lockhart, R.S. Also data on enrolment will enable a school manager to see the level of competition around his/her institution. Thus, it helps teachers and students to make the data precise, concise and meaningful and to express it in a way that the persons involved will understand easily. This information may relate to objects, subjects, activities, phenomena, or Modern business management is more a Science than an Art. analytic skills. Aczel and Sounderpandian (2002:15) say, “results from a good statistical analysis are always concise, often precise and useful.” In that light the collection, analysis and storage of statistical data on the educational system become very important to the school manager for the following reasons. Statistics and modern science: In medical science the statistical tools for collection, presentation and analysis of observed facts relating to causes and incidence of dieses and the result of application various drugs and medicine are of great importance. Statistics in education is importance because it enables the calculation and adequate summary of the results in a meaningful and convenient form: statistics gives order to the data. How can a school system deteriorate so fast Is it the ... think the problem begins with the teachers. Referral Link – http://smallbusiness.chron.com/importance-statistics-management-decision-making-4589.html. Further, statistical data collection enables the school manager to identify areas of staff training and retraining needs. Sampling is an important part of business statistics. Also, for the day to day decision making, the educational managers need data to guide their decisions. The collection of statistics is important in educational management as highlighted above as it enables one as a school manager to perform duties with precision using calculated guesses. Another importance of data collection, analysis and storage in the educational system is that it aids projection of resource requirement. If the teacher feels secure in his / her ... are basically the same, there are good teachers here and the administration is the ... All Papers Are For Research And Reference Purposes Only. As part of Hive’s missio… According to Kendrick (1997:1) statistics are, “numbers that help us find patterns in data, such as averages and medians.” Periodically, inspectors from the Ministry of Education as well as auditors do visit the schools to monitor how the managers are utilizing the human and material resources. A common use of statistics is to measure performance. In addition, statistical data collection is important in the educational system because it aids accountability in the system (Kendrick, 2000). Educational data are very vital tools for planning. It helps in collecting and presenting the data in a systematic manner. Disclaimer: This work has been submitted by a student. 1.5 Scope of Statistics 1.6 Importance of Statistics in Business 1.7 Limitations of statistics 1.8 Summary 1.9 Self-Test Questions 1.10 Suggested Readings 1.1 INTRODUCTION For a layman, ‘Statistics’ means numerical information expressed in quantitative terms. They use the data from the statistical analysis so they can avoid a problem in the future. As the owners of the learning team’s company “The Clear as Mudd Drinking Water Company”, the focus of the research question and hypothesis was switched to an environmentally conscious approach to determine if that was a potential reason behind slipping profits. Banking. Kendrick (2000:2) says, “the better we understand statistics, the better we will be at assessing what is going on in the world around us.” The data on yearly performance of students in the external examinations such as Grade Seven National Exams and Ordinary Level National Exams will show if the school is progressing or not academically. The relationship … Change ), ARTICLE – ” The Importance of Statistics in Management Decision Making” by John T. Willia, http://smallbusiness.chron.com/importance-statistics-management-decision-making-4589.html. (216) Factors stated by parents and teachers included: smaller class size, the schools' educational ... proposed answer to problems in the Public School System is the Voucher Program. In this paper the writer is going to discuss the importance of statistics in her area of study which is Educational Management. Change ), You are commenting using your Google account. Second, given the growing importance of decisions and opinions based on data, it’s crucial that you can critically assess the quality of analyses that others present to you. The main outcome remains the same - no matter what industry a manager belongs to, perfect project management will always be the key factor of making or breaking a project. Project Management Methodologies Statistics. Statistics is an important field of study because of its application in almost all walks of life. For a manager to plan adequately for the future he or she needs the data on what the past was and what the present is like. (1998) Statistics for Management. One of the greatest advantages of the application of statistics to education is the optimization of school management. The sampling and data collection plan serves as the skeleton of our learning team’s project. The best to maximize your company’s profit is to use statistical data. Measurement and evaluation are essential part of teaching learning process. Free Samples and Examples of Essays, Homeworks and any Papers, Filed Under: Essays Tagged With: data, Education. Quality testing is another important use of statistics in every area of life. If such teacher is an NCE holder it may be a pointer for a need to recommend him for in-service training for a degree in Mathematics. A defining business trend in the Digital Age has been the growth in the volume and the use of quantitative data. This online school information management system also includes a whole collection of procedures of an education system and ... benefits to your school: – Single point school management software – Zero redundancy of data – Tech savvy ... ... charter schools for educational reasons." Create a free website or blog at WordPress.com. These strategies and frameworks highlight the need for statistics to provide a strong foundation for the diagnosis of poverty and the development situation as well as to Making connections can help lead to customer satisfaction. Statistics can usually be expressed as a percentage, a ratio, an average, a median and even a raw number. Levin, R.I. and Rubin, D.S. It is presents more information for examination. It helps to classify the data. You must cite our web site as your source. Comparisons: After simplifying the data, it can be correlated as well as compared. The school managers have a responsibility to plan ahead for the system and to do so it calls for him or her to be in the possession of some past and present data. Importance of Statistics In Business – It helps to make swift decisions by providing useful information about customer trends and variations, cost customer trends and variations, price customer trends and variations etc. This is allow us for improvements based on better information and study. It is an important branch of mathematics. By connection I mean provide a link between two variables. Statistical analysis helps to provide the company with accurate information that they can rely on for reference. I am honestly amazed. For example the data on student’s performance in Mathematics may point to a need to retrain the Mathematics teacher. It allows us to for improvement and policy change. A factory might want to simply count the number of widgets it makes. Poverty Reduction Strategies and macroeconomic and sector management frameworks — as part of their policy processes to deliver development progress and reduce poverty. However, if you haven’t gotten to that point yet, here’s some information on statistics in the business field. It is the analysis, interpretation, preservation, and presentation of data. Research is important because it allows us to assess and review the quality of schools and education. It also aids a school manager to work effectively and efficiently to meet set goals. In this paper the writer is going to discuss the importance of statistics in her area of study which is Educational Management. As a team, we reviewed each member’s ... For instance, to make purchases for textbooks or furniture the school manager uses data on class sizes and the age of students so as to arrive at the quantities to be purchased. Change ), You are commenting using your Facebook account. Hence, statistics, if clearly understood is a fascinating subject, which has tremendous importance in psychology and education. “Decisions or predictions are often based on data—numbers in context. Overall, statistics is all about strategy! Moreover, data collection, analysis and storage are very important to the school managers in the assessment of the growth and progress of the educational system (Hardy and Bryman, 2009). The advantage of statistics is that they're comparable. Statistics plays an important role in banking. The following points explain the functions of statistics in summary: 1. Ever increasing global competition mandates business managers to address uncertainty by using scientific methods and be Objective decision makers. It helps to understand unwisely and complex data by simplifying it. First, statisticians are guides for learning from data and navigating common problems that can lead you to incorrect conclusions. ( Log Out /  This way you can make the right decision for your company with a level of certainty. According to Kendrick (1997:1) statistics are, “numbers that help us find patterns in data, such as averages and medians.” They call for data on these from the school head teacher. Like any other tool, statistics can be used or misused. Definitions of Statistics: “Statistics comprises the collection, tabulation, presentation and analysis of an aggregate of the facts, collected in methodical manner, without bias and related to predetermined purpose.” – Sutcliffe. Banks make use of statistics for a number of … Perfect project management will affect different industries in different ways. This is not an example of the work written by professional academic writers. 7. The word “statistics” is derived from the Latin word “status”, which means political condition or status. The importance of research and its impact on education University of Skovde 08 Dec 2016 * Link copied. The study of statistics will serve to enhance and further develop these skills.

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