Question

Explain how someone in real estate or some other field that deals with sales of products and/or services could use statistics to be successful in their trade.

Answer 1

Statistics are applied in marketing to identify market trends, and to measure and evaluate the potential and success of marketing programs. The secret to successful marketing is to identify the target market accurately and to use effective marketing communications channels and tactics to reach it. Statistics can help the marketer achieve both of those goals as well as evaluate the success of the marketing effort and provide data on which to base changes to the marketing program.