APPLICATION OF PARAMETER STATISTICAL TESTS AND DATA ENVELOPMENT ANALYSIS METHODS IN MODERN BUSINESS

Abstract

In the absence of a sufficient amount of information for quality business decision-making, i.e. successful performance of activities without unnecessary losses in the consumption of inputs, recently the non-parametric DEA method (Data Envelopment Analysis) is most often used through the linear programming technique. In the event that company managers have enough information to make business decisions, parametric statistical tests are used that compare the company's current performance with optimal performance, i.e. those that are on the edge of efficiency. However, this situation is very rare, so before making business decisions, non-parametric and then parametric statistical tests are carried out in detail. The subject of research of this paper is primarily focused on the simultaneous application of parametric and non-parametric statistical tests in the assessment of the economic efficiency of an economic entity. After the conducted research and analysis of the obtained results, it was determined that the null hypothesis, which claims that the relative efficiency of the warehouse obtained by parametric statistical tests and the DEA method is identical and that the trends have the same direction, could not be fully accepted. Namely, it was found out that the results of one and the same economic situation using the mentioned two types of analysis differ to the extent that they are not adequate for economic decision-making, however identical results were obtained in the assessment of the trend. It can be concluded that the simultaneous application of both methods, as well as its implementation in several iterations, can provide enough quality information for effective decision-making. Stochastic processes that occur during the implementation of business decisions using the DEA technique can be minimized through the simultaneous application of statistical parametric methods and tests for evaluating the expected efficiency of DEA. The effectiveness of this method in any case depends on the size of the sample implemented in the aforementioned statistical analysis. The aforementioned statistical tests enable the measurement and detection of those input parameters that will most effectively contribute to the efficiency of business systems.