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Measuring Efficiency of Statistical Methods Use in Enterprises: Development of a System of Indicators

Author

Listed:
  • Berislav Žmuk

    (Faculty of Economics and Business, University of Zagreb)

Abstract

The paper introduces a system of indicators for measuring statistical methods use efficiency in enterprises. The indicators are formed based on the questionnaire, which is used to inspect the attitude of employees towards statistical methods use in Croatian enterprises. With the purpose of understanding statistical methods use effectiveness better, indicators are classified into two groups: comparative and individual indicators. These indicators were used in the construction of the E-score indicator, which can be used to predict if an enterprise will achieve a positive net income due to an effective use of statistical methods or not. The system of indicators of statistical methods use efficiency developed within this research can be easily used by any enterprise. Using these indicators an enterprise can estimate its competitive position compared to other enterprises and it can predict if the difference will increase or decrease. Despite the existence of many business systems of indicators, the impact of statistical methods use used to be neglected. This paper corrects this and introduces statistical methods as a very important part of business decision making and continuous monitoring of business processes.

Suggested Citation

  • Berislav Žmuk, 2017. "Measuring Efficiency of Statistical Methods Use in Enterprises: Development of a System of Indicators," EFZG Working Papers Series 1701, Faculty of Economics and Business, University of Zagreb.
    • Handle: RePEc:zag:wpaper:1701
    as

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    References listed on IDEAS

    as
    1. Edward I. Altman, 1968. "Financial Ratios, Discriminant Analysis And The Prediction Of Corporate Bankruptcy," Journal of Finance, American Finance Association, vol. 23(4), pages 589-609, September.
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    More about this item

    Keywords

    statistical methods use; indicators; Croatia; enterprises; multivariate discriminant statistical analysis;
    All these keywords.

    JEL classification:

    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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