Efficacy of Advance Statistical Method, Use to Ascertain the Progress of Society
Creators: name: Junaid, Muhammad
Publisher: name: Zenodo
Year: 2022

description: Introduction

A mathematical science known as statistics focuses on gathering, analyzing, and interpreting data and effectively communicating and presenting outcomes that rely on data. Statistical tools and processes are used to make the raw data useful and to get information that can be used to make decisions. For a study to lead to results, it is important to use statistics. Statistical tools and studies are often used to share research results and give study results and statements more weight. To be educated, assess the reliability and value of the information, and arrive at the best conclusions, research consumers must comprehend statistics. Today, most decision-making-related professions use statistical tools to draw reliable conclusions from organized data. In order to "help people make well-informed decisions about policies, programmes, and projects by placing the best available evidence at the heart of policy development and implementation," evidence-based policy has been characterized as an approach (Westfall & Henning, 2013). Statistics provide the foundation of several government initiatives that are supported by facts. As an illustration, statistics are used extensively in various professions, including business, economics, biology, astronomy, and others. 

Many subfields of statistics have emerged to facilitate the broad application of statistical theory and methodology. Actuarial science uses mathematics and statistics to assess risk in the insurance and finance industries, and business analytics, a rapidly evolving business process that applies statistical methods to data sets to develop new insights and understanding of business performance and opportunities, are two examples (Mertler & Vannatta, 2016). Econometrics is a subfield of economics concerned with the quantitative analysis of economic phenomena. Furthermore, the use of current computers has sped up complex statistical calculations and enabled the development of novel techniques that would be hard to carry out manually. Research in statistics is still ongoing, for instance, on the issue of how to assess enormous amounts of data. 

Role of Statistics in development activities

The realities of people's daily life are depicted through reliable data. Statistics play a crucial part in the growth of a country (LaVange, 2014). One cannot overstate the value of timely and accurate statistics on the socioeconomic situation of a sovereign state. For instance, a number of objectives are now widely acknowledged as the purpose of economic growth and policy. It is believed that taking steps to achieve them will result in macroeconomic stability and elevated national well-being.

 

An environment that promotes robust, equitable growth must be established and maintained, requiring timely, comprehensive, accurate, and trustworthy information. Additionally, this is a crucial component in constructing effective economic development strategies, which helps the government's decision-making and development plans become concentric. According to the United Nations, statistics may be a real instrument in determining the degree or level of a nation's national development during a specific time period. Due to national economic policies and the complex linkages between many economic sectors, it is crucial to develop macroeconomic planning models (Sousa et al., 2014). Building such a model requires access to timely and reliable statistical data. The fact that accurate and up-to-date statistical indices are available, such as the gross domestic product, the inflation rate, the number of people living in poverty, the per capita income, the labour force, housing, education, and health results, shows how important statistics are for achieving national development goals.

Furthermore, the planning and implementation phases of national policy frameworks frequently use timely, precise, and trustworthy information. For the formation of policies and planning and delivering public services, it is becoming increasingly crucial to have accurate demographic figures and estimates. This information is put to use for a wide range of purposes, including the distribution of funds at the federal, state, and local levels; the planning of housing and land use; the provision of health care and educational facilities; the benchmarking of other projections; the serving as a control for projections made for smaller areas; the investigation of the effects of an ageing population; and the comparison of data at the national and international levels (LaVange, 2014). For instance, statistics are a key component in creating the central and provincial governments' budgets because they aid in estimating anticipated spending and revenue from various sources. And accurate data are crucial for managing the efficient provision of fundamental services. Transparency and accountability are important for good governance, and solid facts help people judge how well government programs work and hold their government responsible for those policies. For instance, the cost of a nationwide retirement system would be calculated by looking at projected population expansion and rising inflation rates. Therefore, statistics act in the state administration's eyes. Good statistics also help donors by showing them where and how their money is being spent, which is a crucial part of the assistance process. 

Data gathered throughout the course of monitoring is needed to help determine whether or not set objectives are likely to be attained (Dinov, 2018). Another area where numbers are crucial is this one. Statistical data is essential for monitoring and assessing current economic reform projects since it will give the necessary details on performance indicators used to gauge how policies and programmes affect the standard of living of their intended populations. As a result, statistics on these topics act as crucial monitoring indicators for development goals. Most countries with a low per capita income are implementing national policy frameworks like poverty reduction plans as part of their policy procedures to alleviate poverty (Hosseinpoor et al., 2018). These policy frameworks emphasize the need for data in order to diagnose poverty, track the efficacy of policy implementation, and understand where the poor are, why they are poor, and what their lives are like. This data offers the proof needed to create and oversee efficient development policies. The tools to track progress and evaluate the effects of various policies are also provided, highlighting the areas where resources are most required. Therefore, statistics are required to support the outcomes that the programmes are striving for. The first official poverty mapping exercise was carried out by DCS in 2015 at the Divisional Secretariat level. This study analyzed Census data to find locations with greater poverty rates. Colombo, the capital and least destitute district, has a poverty headcount ratio of 6%, while Badulla and Moneragala had 37% each (Organization, 2016). Even in richer places, like Colombo, there were areas of great poverty. The poverty map has been useful for analyzing disparities in economic well-being among jurisdictions. The nation's attempts to tackle poverty may be aided by this up-to-date map of poverty, which may assist policymakers in identifying whether or not current pockets of poverty have persisted or whether or not any new pockets of poverty have emerged.