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Why do you think so many people have problems with using, interpreting, or applying statistics in making business decisions?

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Statistics is a discipline that deals with the collection,organization,interpretation and presentation of the data so obtained in order to make an informed decision. Statistics are very important too that leads to making of wise decisions in a business hence helping the businesses achieve their goals.Since statistics require a knowledgeable person to deal  with them in order to make an informed decision,many people have problems with using,interpreting and applying the statistics in making business decision because;

Many people do not know the importance of statistics in the success of a business thus considers it worthless ,therefore businesses just collect the data “for the sake”of collecting data not utilizing them.

People also do not consider statistics of importance during decision making because of the complexity of the statistics or figure ,   therefore  business people ignore them in order to avoid  brainstorming and overthinking.

Many business people also have negative attitude towards statistics therefore they switch their minds that it is difficult to analyze the data  and transform them into useful information for thee business.

People also do not consider statistics as an important tool during decision making since they consider it having  many errors that may  misdirect the business  into making a loss.

Since statistics take too much time when collecting,organizing and presenting data  business people  considers doing other things  that may attract fast results since statistics will use a lot of time to come with  decisions.Also people do not consider statistics of importance  in decision making because  most people lack the knowledge of collecting,organizing ,interpreting and representation of data.


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