The use of statistical data is essential in enabling organizations to make sound decisions on their operations. The aviation-related businesses are some of the many enterprises that have greatly benefited from the use of statistics. In particular, the analysis of data has enabled firms in this industry to reduce their maintenance costs, optimize their flight capacities, minimize their operating costs, and simulate likely repercussions of various events. Accordingly, the use of statistical data results in companies in the aviation industry reducing their costs and optimizing their sources of income.
Most national aviation authorities and associations use non-systematic and non-coherent ways to collect data. Consequently, the statistical information gathered by each of these organizations cannot be duplicated to other firms. I will use the current methods of gathering data, which entails the use of questionnaires, interviews, focus groups, observations, and studying documentations. The information from these data is used to establish statistical distributions such as Poisson, Gamma, normal, and exponential distributions that can be used to analyze operations in the aviation business.
I will also use the available information held by organizations in the aviation industry to formulate plans, determine the acceptable limits of fuel consumption, schedule engineering maintenance, purchase essential items, and train employees. I will also use my knowledge of averages, variations, and standard deviation to make a normal distribution curve that will assist me to determine the fuel consumption limits for each plane. Given that fuel cost is one of the most significant in the aviation industry, the development of a normal curve will be essential in establishing the most fuel-efficient aircrafts to be used on specific routes.
Statistical data will also play an essential role in the determination of when I should replace parts of planes. Accordingly, this information will enable me to ensure that aircrafts are safe to fly. To determine the optimal time to remove and replace spare parts, I will use the normal distribution. I will also use exponential distributions to evaluate the time between overhauls (T.B.O). Finally, I will use gamma distribution to estimate the time needed to complete maintenance activity programs in the organization.
An enterprise in the aviation industry should have adequate cash flows for it to operate efficiently. The use of statistics will help me establish when an organization should purchase inventories. In particular, the Poisson distribution will assist me to determine the appropriate quantities that the company should buy of each consumable part. The Gamma distribution, on the other hand, will help me to forecast the volumes of inventories. The purchase of stockpiles at their most economical levels will make the company reduce its operating costs and, in effect, increase its cash flows.
To ensure that an airline makes effective plans, I will use my knowledge in statistics to determine how these goals and targets should be implemented. In this case, I will evaluate the company’s historical data using techniques such as time series and trend analysis to predict future performance of the organization. The information from this study will enable me to know the appropriate aircrafts for passengers and the optimal booking policy. Statistics will also assist me in the evaluation of the performance of employees. I will establish training programs for all workers based on the results of analysis of questionnaires.
Overall, my ability to analyze data and establish clear and justifiable conclusions based on statistical information will make me reduce the costs that aviation based enterprises incur in their daily operations. In particular, I will be able to determine how these industries should schedule their flights to minimize their operating costs and the most fuel-efficient aircrafts for each route. Additionally, my expertise will enable me to offer managers in the aviation industry sound advice, which they will use to improve the quality of their services.