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Usually we know how to form lists, sort data, find their averages, which can be classified as simple statistical tools. Plotting graphs, structural analysis, identifying trends are also useful in work, because allow you to get a general idea of ​​the work of the company or its divisions. However, this may not be enough to make informed management decisions or predict future financial results.
For example, regression analysis evaluates the relationship between two or more variables. The purpose of such analysis is forecasting and optimization. Regression analysis helps managers and business owners predict future operating conditions, provide a quantitative basis for making management decisions, indicates erroneous judgments and allows you to look inside the problem, which contributes to the achievement of higher financial results in the future.
Hypothesis testing helps in analyzing the impact of one factor on another by examining their statistical significance. In the business world, hypothesis testing is used, for example, to explain how an increase in the number of employees affects productivity or allows you to evaluate the effectiveness of a marketing campaign on results sales This allows managers to identify causes and effects before making critical decisions.

Thus, adequate use of statistical methods facilitates the process of making management decisions. However, their application is both a science and an art, which indicates the need to take other factors into account. When interpreting the results of statistical analysis, decisions must be made based on life experience and other qualitative factors that are not included in the mathematical model.