Top Career Scopes for Applied Statistics

Managing data and statistics are used in a variety of fields like medicine, finance, marketing, research, and others. Data management and statistics are the backbones of the economy. Graduates with Applied Statistics have plenty of career options in some evergreen and high-paying sectors such as marketing, Information Technology, Cybersecurity, research, business, and finance. Statisticians play an important role in solving industry-related problems and bringing positive change. In this article, we will talk about a variety of lucrative job opportunities for Applied Statistics graduates.

Scope of Applied Statistics

Professionals with the knowledge of Applied Statistics are high in demand in every field. They are problem solvers and tackle real-world issues. Different organizations use statistics and data management systems for predictive modeling, improving their decision-making process, and analyzing the data. A career in Applied Statistics is both challenging and rewarding. Here are some of the job roles that need basic to advanced levels of Applied Statistics.

Data Analyst

Data Analysts are high in demand in both public and private sectors. Their main role is to research and find the current trend, and analyze the customer’s behaviors, based on data resources. They conduct surveys, tests, and other operations to find patterns in customer purchases. The data they collect and analyze is used to determine if a product or an initiative was successful or not. The data analyst is one of the most high-paying jobs and constantly growing.

Business Analyst

Statistics graduates are high in demand in the marketing industries. Business Analysts use their knowledge of Applied Statistics to evaluate the data and consumer response about a particular product. They also identify potential competitors, develop analytical methods, find data anomalies, and research the market.

Financial Analyst

Financial Analysts use statistics to bring economically feasible solutions to the table. They have strong market research skills and conduct statistical analysis. They brainstorm ideas about how to effectively use resources to bring the desired outcome to a company. As a Financial Analyst, you will have to work with a variety of clients from individuals to large companies.

Statistician

Statisticians deal with a variety of data and problems, use analytical and mathematical techniques to address them, and present it in an understandable way to the public. They have the opportunity to work in different fields like computer science, sports, politics, etc. It is a promising job with lucrative salaries. The growth in the demand for statistics is expected to be 33% in the coming decade. So, consider this opportunity if you are a graduate of Applied Statistics.

Data Scientist

Data Scientists are more future-oriented and have to deal with complex data sets. Their job is to resolve issues related to data and provide solutions for the future. They have to manage structured and unstructured data by analyzing and data modeling. Data Scientists should have a good grip on data-related programming languages and know how to use different statistical software.

Marketing Research Analyst

This is a popular career path among Statistics graduates. A Marketing Research Analyst’s role is to help businesses in decision making by analyzing current market conditions, the potential market for a sale, analyzing historical data, and measuring the success of a marketing strategy. Communication and other soft skills along with knowledge of statistics are required to become a Market Research Analyst. You can learn soft skills and marketing skills on any online course selling websites.