The use of information technology has led to an increase in statistical jobs analyzing massive datasets. There are three main categories of statistical jobs: teaching, research, and analysis. Statisticians require formal education and skills in attention to detail and numbers. Data analysis is a fast-growing area, and statisticians can help businesses meet customer needs and increase sales. Career advancement opportunities are limited, but positions are well-compensated.
The range of statistical jobs available is greater than ever. This is due to the greater acceptance and use of information technology by companies and organizations. This shift resulted in massive datasets based on a range of activities. For example, a typical business 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 valleys in the sales cycle, failed strategies, and more.
In broad categories, there are three different statistical jobs: teaching, research, and analysis. All of these require formal post-secondary education in statistics or advanced mathematics. Most statisticians hold a master’s or doctorate in statistics from a recognized university. Skills needed to succeed in this field include attention to detail, an affinity for numbers, and discipline.
Teaching is one of the most common statistical jobs. All universities and colleges have courses in statistics for business, accounting and commerce programs. In addition to business school, physical science programs also require their students to complete at least one course in statistics. The purpose of this training is to assist you in the preparation of laboratory reports and in the analysis of experiments.
Statistical research includes exploring different mathematical concepts and applying statistics to financial markets. This field is quite active and is showing a significant amount of growth. Developments in this area help expand our understanding of long-term patterns, trends and forecasts.
Data analysis is one of the fastest growing areas for statistical work. Large companies and organizations are actively looking for statisticians to analyze the vast amount of customer and business data. Part of that process is identifying trends, patterns, and cause-and-effect relationships. A well-defined business intelligence department usually 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 necessary skills and training to develop well-defined queries that create a dataset that can be analyzed for trends and patterns. A thorough analysis can help the organization meet customer needs, increase sales and reduce wasted effort.
Career advancement opportunities in statistics are typically limited to middle management. Most statisticians are dedicated to the field and seek only to increase their knowledge and professional standing. Positions in this field are well compensated, due to the level of knowledge and skill required.
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