(2) Statistics helps in the proper and efficient planning of a statistical inquiry in any field of study. 2. They use statistical data to make their decisions regarding any number of things. The Role of Statistics in Management and Administration. A nation’s government runs on statistics. It also describes the utilization of statistical knowledge in an organization; statistical data collection method, its use in daily operations and in making decisions. (1) Business Business Statistics refers to the application of statistical tools and techniques to business and managerial problems for the purpose of decision making. Some common applications of descriptive analytics include sales, marketing, finance and operations. For instance, let the median salary in China is almost $65,000, which means half the individual in China can earn less than $65,000, and the other half are earning more than $65,000. Statistics are equally important to pharmaceutical and technology companies in developing product lines that meet the needs of the populations they serve. The use of statistics in the management of a business is so pervasive that it's nearly impossible to summarize. Application of Statistics in Hospital and Healthcare Organizations . (Source: PricewaterhouseCoopers) <