002. The Importance of Statistics

From the word “stato” – state or country. Statistics has mentioned first in Ancient Rome and China as some numerical calculations. In 17-18 centuries the so called “countryknolegment” was the subject of statistics.

Virtually every area of serious scientific inquiry can benefit from statistical analysis. For the economic policymaker who must advise the president and other public officials on proper economic procedure? Statistics has proven to be an invaluable tool. Decisions regarding tax rates, social program, defense spending etc. Businessmen and businesswoman, in their eternal quest for profit, find statistics essential in the decision-making process.

For those in marketing research, statistics is of invaluable assistance in determining if a new product is likely to prove successful. Accountants, personal managers, and manufacturers all find unlimited opportunities to utilize statistical analysis. Even the medical researcher, concerned about the effectiveness of a new drug, finds statistics a helpful ally.

Today, most large businesses (as well as many smaller ones) have Quality control (QC) departments whose function it is to gather performance data and resolve quality problems. Thus, Total quality management (TQM) represents a growing area of opportunity to those with a statistical background.

One of the most important elements of TQM is a body of statistical tools and methods used to promote Statistical quality control (SQC). These tools help to organize and analyze data for the purpose of problem solving. One of these tools is the Pareto chart. Named after the Italian economist, Vilfredo Pareto, this diagram identifies the quality problems that occur most often or that prove to be the most costly. Figure 1.1 shows a Pareto chart of the defects affecting the production of microwave ovens marketed by JC Penney.

Pareto charts often express the 80/20 rule: 80 percent of all problems are due to 20 percent of the causes. As Figure 1.1 shows, approximately 75 percent of all the problems are caused by the auto defrost feature and the temperature hold feature of the oven.

Figure 1.1 – Pareto Chart of the Defects Affecting the Production of Microwave Ovens Marketed By JC Penney

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