World Statistics day

The Entrepreneurship Development Cell in collaboration with The Department of Business Management and MTroops Club has organized activities on occasion of “World Statistics Day” on the 20th of October, 2021. Objective: World Statistics Day celebrations. Participated and Target Group: BBM Second and Final Years. World Statistics Day is held every five years on October 20th. The day celebrates the achievements of the Fundamental Principles of Official Statistics. Statistics involves the collection, analysing, and interpreting large amounts of numerical data. Statistics are vital. This field of mathematics allows scientists to make new discoveries. It helps industries make safer products. Pharmacists develop more effective medications when using statistics. When predicting the weather, meteorologists rely on statistics to be accurate. Even investors make better financial decisions thanks to statistics. Virtually every industry in the world benefits from statistical research and data. Individuals also use statistics for a variety of reasons. Statistics help to prove facts and make important decisions. Statistics also play an essential role in tracking trends and finding patterns. This day is celebrated to acknowledge the importance of statistics in our everyday lives. On account of the celebrations, students of BBM Second Years, in honor of such a remarkable day, have conducted several fun activities and games. The session kicked off with acknowledging the importance of statistics in the day-to-day lives and how it enables organizations to analyze past performances, predict future business practices and lead the entire organizations effectively. The students then engaged in a fun and rapid round of MCQ’s to test their knowledge in regards to the basic topics of statistics. Furthermore, the Second Year students displayed puzzles to solve and riddles to answer that had the students participate very enthusiastically. Lastly, one of the students conducted a jam game that declared the winner for the games and ended on a positive note for each and every participant. Outcome: The students were able to get an insight on how important statistics is, especially in the aspect of businesses. They learnt how to collect data, employ the correct analyses and effectively present the results. They have also learnt that statistics is a very crucial process behind how one makes discoveries, makes decisions based on data collected and analyzed and make future predictions to sustain effectively and take all necessary precautions to avoid failure or incur losses. The session was overall engaging, fun and informative.