Statistical data analysis is the collection, organization, analysis, interpretation and presentation of data. It reveals trends and variations in system parameters that are difficult to identify without statistical analysis.
Using statistical data analysis, you can answer questions like:
- Is my manufacturing process under control?
- What will the demand be for my product next quarter?
- What are the best-case and worst-case system performance estimates under this operating policy?
- What is the relationship between customer waiting times and lost sales?
A successful statistics study begins with understanding the information you want to acquire. Once we have an understanding of your goals, we develop a statistical experiment and perform the appropriate analysis to get you the information you need.
We employ several statistics methodologies, including
- Design of statistical experiments (ANOVA)
- Univariate and multivariate regression analysis
- Distribution fitting and stratified sampling design
- Statistical process control (control charts)
- Time series analysis and forecasting
The end result of a statistical study is a better understanding of system operations, which allows you to make more informed decisions supported by quantitative information. SIMCON has a team of statisticians with proven educational and professional experience. We have experience with several statistical software packages, including SAS, JMP, R, Minitab, StatFit, and Design Expert.
Contact us and let’s talk about building better decisions.
We can also create a custom software program that automates the statistical analysis we perform! See our Software Development Services Page.