Advances in Economics and Business Vol. 5(7), pp. 423 - 433
DOI: 10.13189/aeb.2017.050705
Reprint (PDF) (342Kb)

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

Berislav Žmuk *
Faculty of Economics and Business, University of Zagreb, Croatia


The paper introduces an initial 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. However, this initial system of indicators has to be improved further to reach more precise conclusions.

Statistical Methods Use, Indicators, Croatia, Enterprises, Multivariate Discriminant Statistical Analysis

Cite this paper
Berislav Žmuk . "Measuring Efficiency of Statistical Methods Use in Enterprises: Development of an Initial System of Indicators." Advances in Economics and Business 5.7 (2017) 423 - 433. doi: 10.13189/aeb.2017.050705.