Statistical Analysis 101: Everything You Need to Know to Get Started

Essential statistical analysis techniques: hypothesis testing, confidence intervals, and correlation. Learn how to apply these concepts with real-world examples

Statistical analysis. Wow, seems like a big topic.

It’s the key to making smart, data-based decisions. It helps businesses, researchers, and analysts make sense of huge amounts of data, spot trends, and make choices they can trust.

In a world where data is everywhere, knowing the basics of statistical analysis is super important for anyone working in data analytics.

This article is here to give you a solid introduction to important statistical ideas like hypothesis testing, confidence intervals, and correlation. I wrote it to help you build a strong foundation so you can go deeper into more complex statistical methods later on in our Data Analytics series.

By the time you finish reading, my goal is you’ll have a better grasp of how statistical analysis works, why it’s so important, and so you can start using it with tools like Pandas and SciPy in Python.

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I did a lot of research for this article and as I was here writing it I realized it shouldn’t go all into one article. I felt overwhelmed with some of these concepts and that is not how I want you feeling too. The purpose of my writing is to break down advanced concepts into easier terms for you guys.

Today I will cover all the important concepts to help you wrap your brain around all this, there are a lot of advanced concepts and terms. Next week I will introduce the code portion and how you can use Pandas and SciPy to work with Statistical Analysis.

My data analytics series will be stretched out a bit longer all in hopes that I can take you through this at a pace that suits you, my readers. If you are not already subscribed to my premium make sure you do as you get full access to these articles and all my code to follow along with!

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Okay, enough chit chat. Time to go into a new topic that may appear daunting on the outside but after this read here today you will have a much better understanding.

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Grab some coffee or tea, and get ready to have you mind blown!