From Elsmar Cove Quality Assurance and Business Standards Wiki
Statistical Analysis is analyzing data collected for the purposes of summarizing information to make it more usable and/or making generalizations about a Population based on a sample drawn from that population. Statistical analysis in general refers to a collection of methods used to process large amounts of data and report overall trends. Statistical analysis is particularly useful when dealing with Noisy data. Statistical analysis provides ways to objectively report on how unusual an event is based upon Historical data.
