The importance of understanding statistics and challenges


Business professionals who use statistics are not mere number crunchers who are "good at math." As Jon Kettenring succinctly said, "Industry needs holistic statisticians who are nimble problem solvers" (www.amstat.org).

Consider the criteria listed below:

The ideal statistician

  • Is technically current (e.g., software-wise)
  • Communicates well
  • Is proactive
  • Has a broad outlook
  • Is flexible
  • Focuses on the main problem
  • Meets deadlines
  • Knows his/her limitations and is willing to ask for help
  • Can deal with imperfect information
  • Has professional integrity

Locate an individual in your company who exemplifies these characteristics and interview them on the importance of understanding statistics and the challenges they may face with data. Ask them how they demonstrate these characteristics in their job

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Accounting Basics: The importance of understanding statistics and challenges
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