The role of statistics in data-driven decision making

Abstract

This review explores the expanding role of statistics in data-driven decision making across various domains such as business, healthcare, education, policy, and artificial intelligence. It presents foundational concepts and highlights modern techniques like predictive modeling, simulation, and big data analytics. Case studies and statistical applications demonstrate how quantitative reasoning enhances strategic planning and operational efficiency. The review also emphasizes ethical considerations, software tools, and the need for statistical literacy to ensure responsible and transparent use of data. With the exponential growth of digital information, statistics continues to be the cornerstone of informed decision-making in a complex and data-saturated world.