The p-value, i.e., statistical significance is a cornerstone of evidence-based science including physics, chemistry, psychology, and sociology. It is equally important in understanding data analysis in corporations. Although, I would wager that most people don’t care, I would like to emphasize that one must understand what statistical significance is key to understanding whether your results are just a fluke. However, I personally feel like that the way most statisticians talk about it, it creates a lot of mystique and misunderstandings and only a bit of clarification. I have seen quite a few data-analysts who do not have a clear understanding of it even though they are able to produce the value through their software tools. However, a lack of understanding creates a space for misinterpretations, so I thought I would try to clarify it.
