Statistical Methods for Data-Driven Decision Making
Statistical Methods for Data-Driven Decision Making Statistical methods help turn data into decisions. They quantify uncertainty, compare options, and plan under risk. Start with a clear goal: what decision is at stake and what success looks like? Collect data on outcomes such as clicks, conversions, or costs. Ensure a good sample and consistent records. Descriptive statistics and visuals reveal the story. Use means, spread, and simple plots to spot patterns. ...