Career Opportunities in Statistics

What is Statistics?

Statistics is a relatively new branch of academics that is growing fast as a provider of good career options to students. In fact, career opportunities in statistics are many, as it has more applications than mathematics. Statistics is not simply about numbers, it affects various aspects of our lives. Statistics is such a branch of mathematics that deals with the collection, organisation, and presentation of data as well as its analysis and interpretation. Statistics finds its applications in almost all areas of scientific research, ranging from natural sciences and psychology to medicine and management.

The Range of Statistical Applications:

A course in statistics makes you aware of mathematical concepts as well as the concepts of statistical reasoning, data analysis, logic, research methods, and much more. Thus, you can imagine the vastness of its applications in the real-world scenarios. Ranging from the economic analyses conducted by the government to the analyses of prices, wages, demands, time series, etc. in a manufacturing firm, statistics is the key to unlocking it all. When it comes to the study of business markets and consumer behaviour by companies, none can replace the role of statistical tools.

If you are exploring good career opportunities in statistics, then you must assess its range of applications. In modern times, every executive depends on statistical tools and techniques to understand the business and competition. Production engineering is another area that makes good use of statistical tools. Whether you use it for product manufacturing standards compliance or quality inspections, statistics always comes with great usable intelligence.

Further, career opportunities in statistics are many, as statistical tool and techniques are highly useful to almost every professional who has to perform some types of quantitative analyses and presentations. Statistics is advantageous to bankers, finance executives, economists, traders, lawyers, politicians, and even social workers. Whether it is computer science, government, industrial, healthcare, agricultural or scientific discipline, nothing can work precisely without the application of statistical methods. Thus, there are uncountable areas where statistical knowledge can be applied to solve a variety of problems.

How to Carve a Career in Statistics?

If you want to explore career opportunities in statistics, then it is important to have good comprehension and analytical skills. This is required to analyse and interpret a variety of numerical data and results in such a way that even the common people can understand and benefit from the process. You may have to make use of various types of statistical tools like questionnaires, survey tools, and diagnostic tests. These tools are used to solve real-world problems and issues in every domain that requires such solutions.

A good statistics course at undergraduate or postgraduate level can equip you to use scientific techniques and tools of analysis, collect data from reliable and valid sources, design analytical tools, and even present your findings in several forms that include graphical presentation or creation of tables and charts. You will also be equipped to suggest on the possible applications of your findings from data analysis and to solve practical issues. To explore career opportunities in statistics, you can begin by pursuing the Bachelor of Statistics degree programme from a good institute in India. Any candidate who has completed 10+2, usually with 50% marks in aggregate, can take up this course. Further, you can go for a Masters-level programme and then a doctorate course in statistics.

Top Institutes to Pursue Statistics Courses?

Following are some of the top institutes or colleges from where you can do Bachelor’s, Master’s, and PhD programmes in statistics:

Career Options after Completing Statistics Courses:

When you graduate from a good college or institute, you are exposed to many career opportunities in statistics. Given below are some major options or jobs you can check out:

• Professional Exams: You may appear for professional examinations, such as Indian Statistical Service, Subordinate Statistical Service, Indian Economic Services, and Civil Services. A strong base in statistics can make you succeed in these exams and enter a relevant professional at senior level.

• Government Jobs: While you can appear for the above-mentioned exams to enter government services, you can also apply for specific positions that government organisations publish for statistics experts. Several departments require statisticians and analytical experts in research from time to time. Thus, career opportunities in statistics are many in the government sector.

• Private Companies: Although many industries prefer postgraduates in statistics due to the complex nature of their statistical profiles, there are firms that also recruit statistics graduates at entry level. In any case, the profession promises great returns in terms of compensation and internal promotions, as this niche job is not everybody’s cup of tea. You can go for positions like statistician, content analyst, marketing analyst, data scientist, statistics trainer, biostatistician, and statistics consultant.

• Academics or Research: If you have pursued a postgraduate or doctoral degree, then academics is a great area that offers wonderful career opportunities in statistics. You can be a lecturer or professor and earn high salary and respect. Apart from this, research organisations and bureaus recruit statistics experts for various projects.

• Higher Education: If you have completed B.Sc. Statistics but you do not want to take up a job right now, then you can pursue higher education. You may go for an MBA programme or M.Sc. in statistics. If you have done M.Sc. Statistics, then you can ensure not to look back before pursuing a PhD degree in statistics.