Statistics is widely used in modem times. Now-a-days statistics is useful to bankers, workers, labourers, workers, trade associations, insurance companies, auditor, social workers, chamber of commerce, politics etc.,

Uses of Statistics:

1. Useful to Politicians:

The politicians and their supporters are immensely interested in knowing their prospects of winning election. It helps them to know the percentage of vote may candidate will receive in the election can be worked out.

2. Useful to insurance companies:

Statistics is also very useful to insurance companies. Insurance companies premium rates are determined with help of mortality tables which are based on mortality experience statistics.

3. Useful to economics :

Statistics serves as a raw materials to the economists in making certain economic laws.

4. Useful of finance minister:

The finance minister is responsible for preparing the annual budget of the country. For preparation of better annual budget plan there will be high necessity of statistics.

5. Bankers:

Statistics is very much useful for bankers and banking industry. Every bank has a statistical department. This department helps the bank to make its own policy.

6. Useful to Business man:

It is necessary for an efficient businessman to have the full knowledge of the factors which influence his business decisions. He must know the probable demand in future and we must calculate the cost of production. All this can be done with the help of statistics and statistical methods.