Everybody has probably already realized that there is almost no data that we cannot get. We can get data about our website by using free tools, but we also spend tons of money on paid tools to get even more. Analyzing the competition is just as easy, competitive intelligence tools are everywhere, we often use Compete or Hitwise. Opens Site Explorer is great for getting more data about our and competitors backlink profile. No matter what information we are trying to get, we can, by spending fortunes or no money. My favorite part is that almost every tool has one common feature and that is the "Export" button. This is the most powerful feature of all these tools because by exporting the data into Excel and we can sort it, filter it and model it in any way we want. Most of us use Excel on the regular basis, we are familiar with the basic functions but Excel can do way more than that. In the following article I will try to present the most common statistical techniques and the best part it is that we don't have to memorize complicated statistical equations, it's everything built into Excel!
Statistics is all about collecting, analyzing and interpreting data. It comes very handy when decision making faces uncertainty. By using statistics, we can overcome these situations and generate actionable analysis.
Statistics is divided into two major branches, descriptive and inferential.