Potential of Statistical Analysis in Business
- Lionel Pinuer
- Apr 20
- 2 min read
By: Lionel Pinuer.
Business data is gold in the right hands.
Many companies implement extensive database architectures, often with considerable complexity. Each department wants to store its information, leading to the accumulation of vast amounts of records. No one wants to miss details of their activities. Over time, this data accumulates and, while it can be useful in audit processes to demonstrate accounting, financial, or operational traceability, it often accumulates without adding significant value to the organization..
Within the accumulated information, there is a set of data focused on the company's internal operations. These include operational records such as purchases, expenses (OPEX execution), arrival times, consumption of ingredients and supplies, response times in various activities within a chain of events, and specific process times, among others. On the other hand, there is also data related to the company's interaction with its external environment, such as relationships with customers and suppliers.
In short, although there is a lot of information available, there is often a lack of time or the right focus to exploit it effectively.
However, there are great opportunities by using analytical tools that can help leverage these "dormant data," or by collecting the right data within the business process.
Opportunities and value of applied statistical tools.
Today, companies believe that applied statistical tools are only for experts and that their use is complex. But in reality, the application of statistical tools is accessible and can be easily integrated into daily operations to provide clear and actionable insights, with the right help and support.
Some aspects that reflect the true value of applied statistical tools are the following:.
Evidence-Based Decisions: Statistics provide a solid foundation for making informed decisions and reducing uncertainty.
Early Problem Detection: Allow indentifiying potential issues before they become crises.
Continuous Optimization: Helps maximize efficiency and minimize waste in all areas of the business.
Trend Predition: Facilitates anticipating market changes and strategic adaptation.
Applied statistics is a powerful tool that can transform how you operate and make decisions. By underestimating its value, companies risk falling behind in an increasingly competitive and data-driven world.
If you are ready to discover how statistics can be a strategic ally in your business, we invite you to explore how these tools can unlock the full potential of your data.