Why are statistics important in certain parts of our lives?

The study of statistics is an area in which mathematics plays a very significant role, just as it does in every other element of our life. Within the realm of mathematics, statistics is a branch that individuals utilise in order to make sense of the events that are taking place in the world around them. This is because people like to know how the world works. Statistics is the process of getting data and explaining that observation to you. And the process in statistics is called a statistic.