Econometrics and Business statistics

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Business statistics is the science of good decision-making in the face of uncertainty and is used in many disciplines such as financial analysis, econometrics, auditing, production and operations including services improvement and marketing research.

Econometrics and business statistics are the most widely used quantitative methods in business. These methods are often applied to sales forecasting, quality control and market research. Data used in business include population censuses, opinion polls, consumer databases and sales and demand data.

Econometrics and business statistics are all about extracting the best possible information from the data in order to aid business leaders and organisations in making the best economic and political decisions.

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