- Application dedicated for financial and statistical operation is known as what?
Answers
Answer:
Statistical analysis software products are specialized programs designed to allow users to perform complex statistical analysis. These products typically provide tools for the organization, interpretation, and presentation of selected data sets. Statistical solutions typically package these data management capabilities with features specific to statistical analysis. Statistical analysis capabilities refer to capabilities that support analysis methodologies such as regression analysis, predictive analytics, and statistical modelling, among many others.
Statistical analysis software tools are typically used by data scientists and mathematicians, but can provide industry-specific features. These may be features tailored to scientific research, cost modelling, or health science; other tools can perform specific statistical analysis across industry or use case.
Some products overlap within both statistical analysis software and predictive analytics software or business intelligence platforms. However, most tools in those categories will not provide the same level of niche statistical analysis capabilities as statistical software.
To qualify for inclusion in the Statistical Analysis category, a product must:
Package statistical analysis capabilities, equations, and models
Facilitate data importing, preparation and modelling
Perform complex statistical analysis
Explanation:
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