Descriptive Statistics helps to understand and summarize the data given. The different conclusions that can be drawn are mean, median, mode, etc. For the company given data is required to be segregated which can be done using histogram as groups can be made of different sectors approaching the company. This would provide us the data of sector which is most interested and the least interested. The company can work on them. If there is data collected average of the problems of the clients are required to fix the problems and concentrate on important issues. Mode is required to understand the clients with highest frequency to prioritize the groups with the community mainly for the group managers. The need of the company is to provide complete information and analysis of the subject researched. For this the company requires to know the subjects which are required more by their clients which is possible using the quantitative approach using descriptive statistics. The numeric calculations are used to make decisions. When the company has some values, which are very large and some very small then mean does not shows appropriate picture of the company therefore, median is calculated where half values are above it and half values below it. The quantities used the measure the dispersion as per the mean is standard deviation. The mean and the standard deviation are used to understand the characteristics of the entire population. They however do not show the complete picture but show the description of the normal distribution where positive and negative deviation as same and where small differences are more than the large differences. It is impossible to calculate the needs of each client thus descriptive statistics is helpful to get a clear picture which is summarized and well presented. There are two types of data which the company has in regard of its customers or clients which are nominal and the other is ordinal data. Nominal data is non- numeric such as gender, demographic information, product mode, political affiliation. Ordinal data, on the other hand is the numeric data. Numeric data are also of two type interval data and ratio data. Interval data is the data which does not have any starting point and ratio data have a starting point. These data are useful for the enterprises to take proper decisions. Quartiles are also used by the company to categorize the data in four parts and make different and appropriate strategies for each group. 2. Inferential Statistics use samples rather than the entire population. Therefore, it is simple to understand and calculate which eliminate the bulky calculations. In the company, there are a large number of clients so it is better to use inferential statistics. Small groups or samples are made to get a better understanding of the data. The most commonly and simple inferential statistic is to compare the average performance of the two groups or samples and then compare the two on the same measure. Inferential statistics involve the t-test, ANOVA i.e., Analysis of variance, ANCOVE i.e., Analysis of covariance, regression analysis and some other types are also involved in this. It helps in evaluating key problems of the business and helps in better management of the complicated business problems. It is used for predicting budgets, understand relationships between different data. There are two types of inference in statistics which are estimation and hypothesis testing. Estimation refers to determination of the sample which involves a possibility of error as the sample may not represent the complete population. The second type of inferential statistics refers to comparison of two set or samples of the population. 3. Trends analysis for business improvement The process of identifying any consistence results or trends by comparing business data over time is known as trend analysis. To response with the market and with your business objective you can develop a better strategy. Tendency’s help the individuals to understand how their business performed. It will also make things easier to predict when a current change in operations and practices will take you. It will also tell you when changes are due and when to move your business in better direction right. You can take the help of trend analysis to improve your business by the following ways: 1 You can identify the areas where your cooperation is ill preforming 2 You are able to identify the areas that performing well so that you can duplicate success. 3 Trend analysis will provide testimony to factor in decision making. Reviewing key performance indicators (KPIs) The factors that contribute to your overall progress are generally known as KEY PERFORMANCE INDICATORS [KPI]. These key performances indicators help in making a good starting point for regular trend analysis. You should always look for factors that can drive sales, cost and cash flow. When reviewing sales, one should always monitor the figures that shows the current position of the business, such as: 1. Categories of products selling well. 2. how priority products with the best margins and the best payments terms are selling 3. the performances of each sales person 4. how conversions rate is to be determined How to Measure financial trends Business performances are directly affected by financial trends which are worth of measuring the following things: Sales: The sales trends are used to make production budgets and forecast sales. Cost of goods: The cost trend is used to make decision of further production decisions and estimate the profit earnings ratio. Overheads: The overhead rates are calculated to allocate the estimated costs. Cash flow: Investments and borrowing decisions are taken based on cash flows Net profit: Further plans are made There are some more factors that affect overall business performances: Speed of stock turnover Payment terms and debtor or creditor days Trading hours Display area or floor space Staff numbers Waste management costs. Developing a trend analysis system You can establish useful information on trends by monitoring your business performances over an extended period. You can refine your business decisions and strategies by using this data. Stages of trade analysis: You can set up an effective trade system by: 1. Analysis preparation 2. Application of threshold 3. Cause analysis conduction References: Dr. Valerie P. Muehsam (2006) Quantitative Techniques in Business. Research methods knowledge base retrieved from https://www.socialresearchmethods.net/kb/statinf.php Analyzing trends to improve business Retrieved