Applied Statistics Major opens up avenues in different domains for you. Being a data scientist, statistician, computer scientist being a few best of them.
Statistics is an extension of mathematics focused on gathering, organizing, and analyzing large amounts of numeric data. The dependency on data and the rising need for advanced analysis in companies means that the demand for statistics majors is increasing in every sector.
Experts with knowledge of statistics can solve major problems in science, medicine, and industry. What makes this field even better is that learning applied statistics online is feasible. Here are some career paths supported by majors in applied statistics.
As a statistician, you are tasked with taking on different problems and using mathematical and analytical approaches to address and understand them. Statisticians operate in areas ranging from politics to computer science.
While a statistician’s wage differs based on location, industry, and expertise, the Bureau of Labor Statistics (BLS) estimates that the median yearly salary for statisticians in the U.S. is over $94,000.
Data scientists usually focus on solving particularly complex problems involving huge data, both unstructured and structured, through analysis and modeling.
In addition to other tools, data scientists primarily utilize statistical software to envisage problems and outcomes alongside data-specific programming languages. As of January 2023, the BLS reported that data science experts earn a mean yearly wage of over $145,668.
Financial analysts are tasked with building solid market knowledge and using this data to conduct statistical and research analysis. Afterward, they share their discovery with the primary objective of efficiently utilizing existing resources to enhance financial results.
These experts work with different kinds of clients, varying from families and individuals to big multinational companies. The median yearly salaryfor a professional in this field is $73,974, as reported by the BLS.
Marketing Research Analyst
By evaluating existing and potential markets for commodities, predicting sales, deriving verdicts from correlated historical data, and calculating the influence of marketing methods, professionals in marketing research analysis empower companies to make informed business decisions.
In addition to extensive statistics knowledge, marketing research analysts also need solid interpersonal and communication skills. Among the vast array of career paths for statistics majors, this field is quite popular.
A biostatistician combines statistics and life sciences to produce reporting and analysis in fields such as environmental science, medicine, and public health. They develop clinical trials and studies, decide on the ideal methods of gathering data for projects, and so on.
As reported by the BLS, a biostatistician in 2023 earns an average base wage of $124,801. Available positions in this field are expected to increase by over 15% in 2030.
With the digitization of information and the application of IT in every sector, computer science has evolved past university classrooms with even government agencies and corporations in need of experts in the field.
As a computer scientist, you apply rigorous approaches to resolve issues related to software, hardware, and computing framework. Advanced math and programming skills studied in statistics are indispensable to success in the field.
With jobs related to computer science projected to rise to 22% by 2030, the BLS reports that the average base wage of a computer scientist is $109,120.
Applied statistics accentuates real-life applications of statistical tools and processes, supporting the advancements of the abilities and knowledge required for several jobs across the present-day workforce.