Begin your journey into the world of data and analysis with Chapter 1: Definition of Statistics, Importance & Limitations, and Data Handling Techniques. This foundational chapter is crucial for every banking professional aiming to use data-driven insights in decision-making and strategic planning.

Statistics is more than just numbers—it’s the language of modern banking. In this chapter, you’ll explore how statistical tools are used in credit risk assessment, market analysis, fraud detection, and performance evaluation.

📚 In this chapter, you will learn:

✅ What statistics means in both plural and singular senses
✅ The key roles of statistics in the banking ecosystem
✅ How data supports risk management, CRM, marketing, and forecasting
✅ Major functions of statistics including comparison, estimation, and hypothesis testing
✅ Common limitations of statistical methods and how to avoid misinterpretation
✅ Types and sources of data – primary vs. secondary
✅ Techniques for data classification and tabulation for clear analysis
✅ Basics of frequency distribution and interpretation of data tables

🧠 To support your learning, we’ve included:

📄 A downloadable, exam-oriented PDF with chapter-wise content
📌 Point-wise summaries for fast and effective revision
❓ Practice questions based on the new CAIIB exam pattern
📝 A quiz with answers to test your conceptual clarity and exam readiness

🚀 Tip: Focus on understanding the functions and limitations of statistics and their application in the real banking world. These concepts frequently appear in exam questions, especially in analytical or scenario-based formats