Variance and standard deviation are measures of how spread out a distribution of values is. In other words, they are measures of variability within a population (all possible values) or a within a sample (a subset of the population of sufficient size to warrant statistical analysis). Standard deviation and variance, in conjunction with other statistical methods (ANOVA, F-test, T-test, etc.), are used in data analysis models to determine whether, within a sample or population, certain values or correlation between one or more values are statistically significant.
The important distinction: a standard deviation is expressed in the same units as the mean is, whereas the variance is expressed in squared units
Reference: https://stats.stackexchange.com/questions/35123/whats-the-difference-between-variance-and-standard-deviation
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