Statistics can facilitate decision-making and performance reviews for a business. From statistics, the business can understand how customers behave and react to its offerings, the business can also understand how the business itself is performing and make improvements to the processes.

There are two common types of statistics used in business, descriptive statistics and inferential statistics. Descriptive statistics describe a set of data points while inferential statistics describes the result from analyzing a set of data and making predictions on how the data will change in the future.

Also makes internal plans according to statistics are made, and collects, analyzes, and saves the plans documents for future use.