Explanation:

Statistical Data Analysis is an important control technique and is possible by means of comparison of ratios, percentages, averages, trends etc., of different periods with a view to find out deviations and causes. This method is applicable in case of inventory control, production control and quality control. The minimum and maximum control limits are fixed and deviations within these limits are allowed.
If variations go beyond limitations then immediate steps are taken to correct them. Statistical control charts are prepared with the help of collected data and permissible limits are plotted. This chart will give an idea whether everything is going as per the plans or not. Hence, analysis of data is an important device of control.