Guide to Advanced Concepts in Statistics for Data Science

Statistics is a branch of mathematics that deals with quantified models and representations to analyze and perform experiments on real-world data. The fundamental benefit of statistics is that it conveys information in a straightforward manner. The role of statistics in data science and data analytics can not be underlined because it provides powerful tools and strategies for identifying the hidden patterns and aspects of data which most of the time plays a crucial role in data-driven decisions. Today we are going to see the major and popular concepts of advanced statistics. These concepts are also referred to as inferential statistics which are used when there is a need for critical analysis of data.