Types Of Statistics

Descriptive vs Inferential Statistics

Descriptive Statistics

1. Deals with Summarizing and describing the main features of a dataset (data).
2. Used to describe and understand the main features of a dataset, such as central tendencies, variability, and distribution.
3. Also includes visualization of data to increase the understanding
4. Normal Example — Finding the average performance of students in a class.
5. Data Science Based Example — You have a collection of data and you need to know how frequently it varies, what it ranges in, and what is the frequency of occurrence of a particular record or feature.

Inferential Statistics

1. Helps us to draw conclusions and form hypothesised.
2. We work with a sample of data and then expand our observations to generalize it to a larger population.
3. Usually, helps us to make some decisions for a given group of data.
4. Normal Example — When a car company launches a new model it takes review from a few customers which helps them to understand the merits and demerits of their cars
5. Data Science Based Example — You want to know how people are reacting towards a new application in the market, do they like it or do they hate it.