A statistician may work for a company to analyze customer feedback and provide suggestions for improvement.
The range of statistical jobs available is wider than ever. This is due to the greater acceptance and use of information technologies by companies and organizations. This change resulted in huge data sets based on a number of activities. For example, a typical company will have a database of all its customers, sales activities, orders, and invoices. A statistician can analyze this data to determine customer preferences, peaks and troughs in the sales cycle, failed strategies, and more.
Some statistical jobs require a master’s degree or doctorate in statistics.
In broad categories, there are three different statistical jobs: teaching, research, and analysis. All of this requires formal post-secondary education in statistics or advanced mathematics. Most statisticians have a master’s or doctorate in statistics from a recognized university. The skills needed to be successful in this field include attention to detail, an affinity with numbers, and discipline.
Teaching is one of the most common tasks of statisticians. All universities and colleges offer statistics courses for business, accounting, and commerce programs. In addition to business school, physical science programs also require their students to complete at least one statistics course. The objective of this training is to assist them in the elaboration of laboratory reports and analysis of experiments.
Statistics research includes the exploration of different mathematical concepts and the application of statistics to financial markets. This field is quite active and experiencing significant growth. Developments in this area help further our understanding of patterns, trends, and long-term predictions.
Data analysis is one of the fastest growing areas for statistical jobs. Large organizations and companies are actively looking for statisticians to analyze the vast amount of business and customer data. Part of that process is identifying trends, patterns, and cause-and-effect relationships. A well-defined business intelligence department typically includes several statisticians.
The most important aspect in determining the accuracy and relevance of any business intelligence tool is the quality of the query. A statistician has the skills and training to develop well-defined queries that create a data set that can be analyzed for trends and patterns. A thorough analysis can help the organization meet customer needs, increase sales, and reduce wasted effort.
Opportunities for career advancement in statistics are often limited to middle managers. Most statisticians are dedicated to the field and are only looking to increase their knowledge and professional standing. Positions in this area are well paid, due to the level of experience and skill required.