News / Blog: #statistical

What is statistical software?

Statistical software is specialized software used to generate statistics and analysis. It can collect, analyze, and visually display data to help users gain insights from data and make decisions. It can also be used as a tool for forecasting and approach planning.

What is time series analysis?

Time series analysis is a statistical method used to study changes in a given datum over a period of time. This method is often used to understand how different variables change over time and can be used, for example, to study trends, patterns, or seasonal variations.

What is a Robust Estimate?

Robust estimates are statistical procedures used to reduce uncertainty in the results of analyses. They are used to minimize the risk that a coincident estimate will be applied. Robust estimates are often less sensitive to outliers than are concordant estimates, meaning that they are less prone to failure when a small number of data are unusual.

What is a forecasting tool?

A forecasting tool is a program or system used to predict future events or outcomes. It is commonly used in various industries, including finance, marketing, business, and weather. Forecasting tools can use different types of methods and algorithms to analyze data and make predictions. These include simple statistical analysis, complex machine learning algorithms, regression analysis, and data mining techniques.

What is an Analytical Model?

An analytical model is a mathematical or statistical approach used to analyze, understand, and predict complex phenomena. It is a mathematical model used to study a particular problem by examining different variables and properties of the problem. Analytical models are commonly used in science and engineering to study and understand various phenomena, and can also help make predictions about future trends.