Statistics

Introduction

Statistics is a branch of mathematics concerned with the collection, organisation, interpretation, analysis, and reporting of statistics for social, financial, medical, and other professional purposes. The study of probability theory and the application of statistical approaches to complex system investigations is the focus of this mathematical speciality. A statistician is a person who studies and works with statistics. For probability and investigative reasons, a statistician investigates, surveys, examines, and reproduces quantitative data. For assessing sampled data, the statistician will be conversant with the usage of numerous statistical models and procedures. He’ll be able to devise sample strategies for obtaining precise data. Given enough information, he can calculate the mathematical likelihood of an event. Economics, materials studies, medicine, psychology, and sociology are just a few of the scientific disciplines where statistics may be used. Statisticians can work in fields such as Actuarial Science, Market Research, Medical Research, Social Studies, and so on. Using computer technology to organise data, code information, and generate results from numbers in the form of tables, charts, and graphs is part of the job a statistician

Descriptive statistics and inferential statistics are the two primary areas of statistics. Both of these are used in scientific data analysis and are equally significant for a statistics student.

  •  Descriptive statistics deals with the presentation and gathering of data are the focus of descriptive statistics. In most statistical analyses, this is the initial step. It is rarely as straightforward as it appears, and the statistician must be aware of how to construct trials, choose the appropriate focus group, and prevent biases that are all too easy to introduce into the study.
  • As the name implies, inferential statistics entails deriving the appropriate inferences from statistical analysis that has been done using descriptive statistics. In the end, it is conclusions that make research significant, and inferential statistics deals with this element. Inferential statistics include most future forecasts and generalisations about a population based on a smaller sample size.

Nature of Work

  • Data collection, analysis, and interpretation
  • Finding patterns and connections in data
  • Informing stakeholders of the findings
  • Providing strategic advice to organisations and businesses
  • Assisting in the decision-making process
  • Creating and implementing computer systems and software for data collection
  • Forecasting and providing anticipated figures using statistics displaying data in a number of different forms
  • Conveying complex information to people who may not be specialists
  • Liaising with colleagues
  • Attending meetings

Scope of Statistics

Statistics graduates may be able to have progressive career opportunities. A statistician can work as a freelancer or for corporations such as banking and financial services, accounting and market research firms, insurance and consulting firms, pharmaceutical and health-care companies, and think-tank enterprises in both private and government sectors. Graduates of Statistics who want to pursue a career in academia can apply for MS/PhD programmes in a variety of disciplines, including Information Technology, Project Management, and Econometrics.

How to become a statistician

To be admitted to a bachelor’s degree programme, you must have completed at least 12 years of school from a recognised educational institution with a minimum of 50% grades. A master’s degree in either mathematics or statistics, followed by a graduate degree, can help you obtain a great career as an analyst, researcher, or management in this field. To work as a Research and Data Scientist, you’ll need a doctorate degree.

Internships and experience in a statistical setting are beneficial to this job. To advance in this field, professional degrees or certification in banking, insurance, or accounting can be beneficial.

Best Universities

  • University of Punjab
  • Quaid-e-azam University
  • University of Peshawar
  • Government College University
  • Abdul Wali Khan University
  • University of Karachi

For more details on institutes offering Statistics, visit

https://www.eduvision.edu.pk/institutions-offering-statistics-with-field-physics-numerical-sciences-at-bachelor-level-in-pakistan-page-1

https://www.eduvision.edu.pk/institutions-offering-statistics-with-field-physics-numerical-sciences-at-ms-mphil-18-years-level-in-pakistan-page-1

Job opportunities and market

 A BS Statistics degree holder can apply as

  • Actuary
  • Data Analyst
  • Data Scientist
  • System Developers
  • Investment Analyst
  • Charter Accountant
  • Financial Manager
  • Financial Trader
  • Operational Researcher
  • Software Tester
  • Insurance Underwriter
  • Quantity Survey
  • Banker
  • Economists
  • Accountant

Qualities and skills needed

  • Good Technical and IT skills
  • Numerical skills
  • Analytical skills
  • Written and verbal communication skills
  • Self-confidence
  • Good interpersonal skills

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