Career In Statistics
In recent years, “Statistics” has came among the one of the best choices among students to choose as their career.
If you are also among one of them, then you are at the right place…. here we will explain you about career prospects in this field.
What is Statistics?
“Statistics is a term which relates to the study of the analysis, collection, presentation and organization of numerical data. Statistics can interpret aggregates of data which are too large to be understood by ordinary observation”.
Professionals, who use statistics to design, collect and interpret data in different fields of industry called “Statisticians”.
Statistics can be used in scientific research field such as economics, medicine, demography, psychology, advertising, etc.
It is useful to insurance companies, banker, labour unions, politicians, social workers, trade associations, chambers, etc.
You can find a career in statistics by doing activities like solving problems in a various fields & apply statistical & mathematical knowledge to social, economic problems.
Branches of Statistics:
Descriptive Statistics: It uses the data to provide description of the population in a summarize way through graphs, numerical calculations, tables, etc.
Inferential Statistics: It uses a random sample of data taken from a population to describe and make inferences about the population.
Courses & Eligibility
What are the courses in this field?
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There are many courses available in this field from diploma level to postgraduate level. In India, many top universities offer courses in statistics which you can opt to make your career. Some best courses are mentioned below:
Certificate & Diploma courses:
- Certificate in Statistical Methods and Applications
- Diploma Courses in Statistics
- Master of Arts in Statistics
- Master in Statistics
- Master of Science (Hons) in Statistics
- Master of Philosophy in Statistics
- PhD in Statistics
In these courses study, you will be taught about the basic concepts of logic, statistical reasoning, mathematics, evaluate data, analysis data & research methods.
Basic Eligibility: Students are eligible to apply for bachelor courses after 12th with Mathematics or Statistics as a compulsory subject. For admissions in master courses you should have a bachelor’s degree in statistics from any recognized university. Candidates seeking for admissions in doctoral courses must hold a masters degree like M.Stat, M.Sc in Statistics.
- Strong Foundation in Mathematical Statistics
- Logical Thinking & Ability to Comprehend Key Facts
- Ability to Interact with peoples from various fields to understand the problems
- Strong Background in Statistical Computing
- Ability to stay updated on recent literature & statistical software
- Versatility in solving problems
Firstly, you should meet the eligibility criteria for the course. One of the premier institutions of India, Indian Statistical Institute (ISI) offers admissions on the basis of an admission test named ISI exam. List of other entrance exams organized by different universities for admission in Statistics is mentioned below:
- Aligarh Muslim University: Department of Statistics and Operations Research Entrance Exam (AMU 2020)
- Indian Statistical Institute Entrance Exam (ISI 2020)
- Delhi University 2020
- University of Pune Entrance Exam
- Kalinga Institute of Industrial Technology Entrance Examination (KIITEE 2020)
Top colleges which offer courses in this field are:
- Indian Statistical Institute, New Delhi
- Indian Statistical Institute, Bangalore
- Indian Statistical Institute, Kolkatta
- Xavier’s College, Ahmedabad
- University of Delhi, New Delhi
- Devi Ahilya Vishwavidyalaya: School of Statistics, Indore
- Aligarh Muslim University: Department of Statistics and Operations Research, Aligarh
Career & Jobs
What can you do with a Statistics Degree?
This career offers great job opportunities in India and also in abroad. The statisticians and their analytic skills are highly demanded in today’s job market.
You can use statistics in various fields such as business, industry, agriculture, government, private, computer science, scientific, health sciences & other disciplines.
After completing you study in statistics, you can also apply for the Civil Services, Indian Statistical Services & Indian Economic Services exams.
Those complete the degree, one can opt for finance, analytics, software development, actuarial science & many more options.
With a degree in Statistics you can work in various fields such as Agriculture, Computer Science, Animal Population, Health Science, Census, automobile, pharmaceutical, computer software companies, etc.
- Business Analyst
- Risk Analyst
- Data Analyst
- Content Analyst
- Statistic Trainer
- Data Scientist
- Deloitte Consulting
- TCS Innovations Labs
- Blue Ocean Marketing
- BNP Paribas India
- Neilson Company
- GE Capital
- American Express
- Indian Market Research Bureau
Duties of a Statistician:
- Collecting and analysing the data.
- To design experiments or surveys to collect the required data.
- Applying statistical methods to solve practical problems in business, science and other fields.
- Writing reports and articles of their analysis.
- Presenting results to clients or authorities.
“A Statistician earns a very handsome salary package in India and abroad.”
In India, the average salary of a statistician can be expected between Rs. 2.5 to 3.5 lacs per year. After gaining the sufficient experience in this field you can earn more than Rs. 4.5 lacs per year.
In the United States, you can easily earn an average salary of $70 k annually. Candidates with good experience and master degree in this field can earn a awarding salary packages.
Books & Study Materials
Here we have listed the best books to study Statistics:
Statistics by Freedman, Pisani & Purves
Modern Applied Statistics with S by Venables & Ripley
Probability and Statistics for Engineering and the Sciences by Devore
The Elements of Statistical Learning: Data Mining, Inference, and Prediction by Hastie, Tibshirani & Friedman
Bayesian Data Analysis by Gelman, Carlin
Probability and Statistics (4th Edition) by Morris H. DeGroot, Mark J. Schervish
All of Statistics: A Concise Course in Statistical Inference by Larry Wasserman
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