Statistics

Concept and definition

Statistics

What is Statistics?

Statistics is a branch of mathematics that deals with the collection, analysis and interpretation of data. Statistics is used in a wide variety of fields, including science, engineering, medicine, economics and social research.

In the context of artificial intelligence and machine learning, statistics is a key tool for analysing and modelling data. Machine learning algorithms use statistical techniques to identify patterns and relationships in data and to make predictions and informed decisions.

Some of the important statistical concepts in machine learning include probability theory, statistical inference, regression, analysis of variance, time series analysis and classification. These concepts are used to model data, identify patterns and trends, make predictions and evaluate the accuracy of models.

« Back to glossary

Do you want to get in touch?

CDRs contain data that a telecommunications company collects about phone calls, such as time and length of call. This data can be used in analytical applications.
Fill the form
Share:
The Digital Word-of-Mouth Effect: How Customer Reviews Impact Purchasing Decisions

In today's digital age, online customer reviews and comments have become a key factor influencing purchasing decisions.

Read More »
12 Sectors with the greatest potential for entrepreneurship

Business opportunities are everywhere and many times we do not know which are the sectors with the greatest potential for entrepreneurship.

Read More »
Cloud solutions for SMEs

Cloud computing services or solutions, whether in Spain or anywhere else in the world, are infrastructures, platforms or systems that are used in the cloud.

Read More »
What is Buy Now Pay Later (BNPL) and how does it benefit your online business?

The banking sector has undergone considerable transformations over the past 10 years. Especially as banking has become more integrated and [...]

Read More »
See more entries
© Gamco 2021, All Rights Reserved - Legal notice - Privacy - Cookies