The aim of this document is to enable the students to understand the meaning, definition, nature, importance and limitations of statistics.This document offers a brief introduction on the below topics. 1.1 Introduction1.2 Meaning and Definitions of Statistics1.3 Types of Data and Data Sources1.4 Types of Statistics1.5 Scope of Statistics1.6 Importance of Statistics in Business1.7 Limitations of statistics1.8 Summary1.9 Self-Test Questions1.10 Suggested Readings.