Business statistics is the science of good decision making in the face of uncertainty and is used in many disciplines such as financial analysis, econometric , auditing, production and operations including services improvement and marketing research. Statistics is used in several aspects of business, such as budgeting, tax preparation, proposals and data mining. The business statistics career field uses statistical techniques, such as data sampling and analysis, to assist in making decisions about potential business ventures and existing company practices.

Adavantages

Eases performance management and evaluation
Comparison of alternatives
Research and development
Collection of factual data
Projection of future events
Keeps the business in operation
Helps businesses in building long term goals
Aids in strategic advertisement
Attracting customers