Statistics for Big Data For Dummies
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After data has been collected, the first step in analyzing it is to crunch some descriptive statistics to get an initial feeling for the data. For example:

  • Where is the center of the data located?

  • How spread out are the data?

  • How correlated are the data from two variables?

The most common descriptive statistics are in the following table, along with their formulas and a short description of what each one measures.

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About This Article

This article is from the book:

About the book authors:

Alan Anderson, PhD, is a professor of economics and finance at Fordham University and New York University. He's a veteran economist, risk manager, and fixed income analyst. David Semmelroth is an experienced data analyst, trainer, and statistics instructor who consults on customer databases and database marketing.

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