At present statistics has been accepted as an independent part of scientific methods. As its scope becomes wide, statistics is not only useful for quantitative data but also useful for qualitative data.
- Industrial statistics and a branch of statistics Operations Research – OR was used in the military projects during the second world war.
- In India, OR is used for national planning and survey and OR technique is used to formulate five year plans.
- OR technique can be useful for government to maximise the per capita income with minimum resources.
- In industry, by using OR technique, decisions regarding the optimum allocations of limited resources can be made and it can be planned to maximise the returns.
- To meet the market demand in future, OR technique is useful to decide the size of inventery.
- Thus, considering the use of statistics in recent times, its importance cannot be ignored.
