Overview of Statistics

Statistics is a branch of mathematics which deals with data collection, organization, analysis, and interpretation. It is used in various industries such as business, government, finance, engineering, health sciences, and more. Statistics is used to make decisions based on data, draw conclusions about populations, predict trends and outcomes, and test the accuracy of hypothesis.

Career Opportunities Associated with Statistics

Professionals in the field of statistics can be employed in a variety of industries, including business, finance, healthcare, technology, and education. They are often employed in data analysis roles, providing data-driven insights to employers. They may also be involved in designing surveys, collecting data, running statistical experiments, evaluating data, or creating models for forecasting and uncertainty. Some potential job titles include statistician, business analyst, quantitative analyst, data scientist, operations analyst, and pricing analyst.

Internship and Co-op Opportunities in Statistics

Internships and co-op opportunities in statistics are available in a variety of industries. These opportunities are often used to gain practical experience in fields such as data analysis, statistical programming, and market analysis. Employers may also require interns or co-ops to take courses or gain specialized certifications related to the field.

Specialized Tracks or Concentrations within Statistics

Specialized tracks or concentrations in statistics may include biostatistics, data science, econometrics, analytics, machine learning, and applied statistics. Depending on the concentration, students may be required to complete courses and/or research projects in the specific track.

How Statistics Prepares Students for Graduate School or Further Education

Statistics provides students with the skills and knowledge necessary to pursue graduate study in their chosen fields. Statistics courses cover research design, data analysis, hypothesis testing, and predictive analytics. Students will also learn critical thinking and problem-solving skills, both of which are highly valued by graduate programs and employers.

Impact of Artificial Intelligence on Statistics

Artificial intelligence (AI) is having a profound impact on statistics. AI systems are capable of automatic data collection and analysis, reducing the reliance on humans in statistical tasks. AI is also able to make predictions with better accuracy and provide insights into complex datasets that may have been overlooked. This is enabling organizations to make decisions based on more sophisticated data-driven models.

The Career Outlook for Statistics

The career outlook for statistics is very positive. Professionals in this field are in high demand, as organizations continue to look for ways to make data-driven decisions. Additionally, the utilization of AI systems is increasing, creating more opportunities for statisticians to provide insight into data-driven models. According to the US Bureau of Labor Statistics, the job outlook for statisticians is expected to grow at a rate of 33% from 2019 to 2029.

Here are the top reported starting salaries for graduates in Statistics:

Carnegie Mellon University, Salary: $89,636

Cornell University, Salary: $83,338

Harvard University, Salary: $78,193

University of California-Berkeley, Salary: $70,227

Purdue University-Main Campus, Salary: $68,741

Gustavus Adolphus College, Salary: $66,124

Emory University, Salary: $66,121

Williams College, Salary: $65,849

University of Miami, Salary: $65,603

University of Illinois Urbana-Champaign, Salary: $63,699

For privacy reasons, not all schools report the first year salaries for students who earned their bachelor’s degree in Statistics.