Statistics comprises of a set of mathematical techniques that help in analysing collected data. Professionals 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, engineering and marketing. Statisticians gather data, summarise information, draw conclusions and advance predictions.
Universities offer mathematical programmes with specialisation in statistics, usually at the undergraduate level, or highly specialised degrees in statistics at the graduate level. Specialisations of statistics degrees include: statistics and measurement, statistical inference, econometrics, quantitative methods of the financial markets, statistics in life sciences, computational finance, biostatistics. Applicants are typically required to have excellent grades in mathematics and at least one other science subject. Students and professionals will use computer literacy and transferable abilities such as analytical skills, a sound logic, the capacity to interpret vast amounts of information and to effectively communicate results.
Graduates in statistics 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 more