Statistics comprises of a set of mathematical techniques that help in analysing collected data. Professionals interpret data and turn it into information, by measuring, controlling and communicating uncertainty. They build conceptual frameworks in hopes of predicting future behaviour using numbers logic from current events.
Statistics teaches how to use statistical thinking, parameters and methods to explain results and to anticipate possible outcomes in diverse scientific, social and business issues. Therefore, statistics is a valuable tool used in other disciplines such as Medicine, Natural Sciences, Sociology, Economics, Marketing, and more. Regardless of the subject where it’s applied in, Statistics is based on gathering data, summarising information, drawing conclusions and making predictions.
Statistics specialisations include: statistics and measurement, statistical inference, econometrics, quantitative methods of the financial markets, statistics in life sciences, computational finance, biostatistics.
Statistics students have excellent grades in Mathematics and at least one other science subject. Students develop computer literacy and transferable abilities such as analytical skills, sound logic, the capacity to interpret vast amounts of information and to effectively communicate results.
Statistics graduates can easily find jobs wherever there is the need for decision-making based on data. They can become business analysts, economists, mathematicians, data analysts, risk analysts, environmental scientists and may naturally advance in managerial positions. Professionals work in various industries, such as medicine, health care and pharmaceuticals, marketing research, public administration, sociology, business, or insurance.
Read moreCheck out our list of Master's degrees in Statistics. Keep in mind you can also study an online Masters in Statistics.