What is Classical Statistics?

By Keiter Technologies

What is Classical Statistics?

Keiter Technologies deals with dozens of tools and technologies to find the best solution to your company’s unique challenges.

What is Classical Statistics and how can it be applied to your company or industry?

Classical statistics is the foundation of numerous data analysis, modeling, and forecasting techniques. It is used to discover relationships and uncover trends found in numerical data, providing valuable insights to guide further decision making. Classical statistics is also used to guide and develop data collection techniques, such as in clinical trial design or other experimental design, and in manufacturing quality control.

Classical statistical techniques power a multitude of data analyses aimed at uncovering relationships between numerical variables, including:

  • Descriptive statistics
    • Information that summarizes data such as mean (average), median, minimum and maximum values, and standard deviation
  • Hypothesis testing
    • Comparison of two or more data samples against a hypothesis – a typical example is the t-test, which tests the hypothesis that the mean of two samples is the same
  • Correlation analyses
    • Determines the strength of a relationship between two data samples
  • Regression analysis and Predictive modeling
    • Determines the relationship between an outcome variable and one or more predictor variables, how strongly the predictors relate to the outcome, and use those relationships to predict future outcomes
  • Clustering analyses
    • Classifies variables into groups based on how similar they are


Contact us to learn more about using Classical Statistics as a potential data solution for your company >


See our Glossary of Data Science Terms for more examples of how data solutions can be applied to any industry.

Or Contact us to learn exactly what services we can provide specific to your company.

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Keiter Technologies

Keiter Technologies

Keiter Technologies focuses on serving businesses with their strategic technology needs through data science, cybersecurity, and IT audit and consulting.

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The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.


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