Statistics courses cover a wide range of mathematical subjects like algebra, probability, data collection, game theory, and statistical modelling. These are useful fields in the collection and analysis of data, and are also applicable to other fields like economics, sociology, or finance.
Statistics majors are taught how to analyze and interpret various types of data, identify trends and patterns, as well as make calculated predictions on what could happen, based on past tendencies. This form of logical reasoning is referred to as deductive reasoning in mathematics. Statistics is an extremely vast and complex field that branches out into a wide range of specializations that focus on different areas of application.
Some popular statistics degree specializations include:
Medical statistics – medical statistics involves using data analysis and management techniques in the healthcare and medical industry during research or experimental processes. It also helps in keeping track of disease and health rates in the population, and provides more data that enables researchers to develop better healthcare facilities and work on better treatment procedures.
Forensic statistics – forensic statistics is used in judicial systems for criminal cases to study patterns and tendencies towards crime. When investigators gather up evidence and draw out possible conclusions, forensic statisticians are required to analyse their findings and then calculate the probability ratios that are later used in court while making a decision.
Operational research – this field of statistics is applicable in organizational or corporate setups, and involves developing problem solving techniques and optimal operation methods. In this field, you analyze the various challenges and problems in a company and find solutions to overcome these challenges.
Environmental statistics – this specialization involves studying data from the environment and natural landscapes, then coming up with optimal and eco friendly methods for development and urban planning. Environmental statisticians determine trends in environmental activities that are used, to some degree, in predicting environmental accidents and disasters.
Business statistics – business statistics studies market trends, analyzing the rates of demand and supply, and making predictions about future trends. They are also able to provide some degree of advice as to which business fields are most promising or most risky, and can also give input on better marketing and advertising methods.
Statistical computing – statistical computing is focused majorly on the application of statistics in computer science. They work with areas like information processing, artificial intelligence, computer programming, software development, algorithms, and database design. This is an upcoming and rather new field, with great scope and career opportunities in the future.
Predictive analytics – predictive analytics is a commonly sought after specialization in statistics. It involves working specifically on making future predictions based on past studies and patterns. This is used in a wide variety of areas like retail, healthcare, travel, telecommunications, etc.
Biometry – biometry involves studying data that is related to biological life forms like plants, animals, or agriculture. Here, students learn how to utilize statistical methods when conducting biological research. They are also concerned with genealogy and selective breeding to some extent.
Overall, statistics is a very useful mathematical field that is interconnected with other fields like economics and life sciences. It is therefore a very promising choice, with many interesting specializations, and plenty of diverse career options to look into.