Statistics is a very interesting subject. Especially for those who like the field of finance and businesses and those associated with the same. According to definition, statistics is “the science of collection, compilation, tabulation, analysis and interpretation of quantitative data”. The word statistics in itself means the procedure with the help of which an individual can comprehend data easily. What was primarily a branch of mathematics, statistics in itself has developed strikingly over the years. The concept is employed throughout organisations and even by individuals unofficially and on a lesser scale. The scope of the subject has presented this generation with is truly commendable. Just like any other subject, this too has its own pros and cons. The disadvantages statistics pose is lesser in number when compared to its advantages. Statistics and a minimum understanding of it are imperative in life for a sound financial life.

Abhijith S

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