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hello and welcome to learning Puri a channel for applied learning on this channel you will get knowledge and tips to cultivate useful business skills that will increase your employability [Music] in the previous video we saw a brief snapshot of the history of statistics in this video we will try to get ourselves acquainted with the basic concepts and some terminology of statistics to create a good foundation in statistics so without further ado lets dive in start by understanding the definition of statistics it is the science of collection organization presentation analysis and interpretation of numerical data please note the emphasis on numerical data we will deal with each of these terms individually in the future videos since each term needs a separate treatment statistics helps us to draw conclusions by identifying patterns in the data studying these patterns enables us to draw insights that can be utilized for further improvement we can even test our support beliefs or claims us