5 Career Opportunities with a Master’s in Statistics
• Data Scientist
• Operations Research Analysts
Individuals looking for a degree that offers a wide range of opportunities in the working world are often amazed at the many possible careers with a Master’s in Statistics. This versatile graduate degree can open many doors in many industries. Candidates who enjoy working with numbers and statistics typically find statistic-based jobs to be extremely rewarding, fulfilling and lucrative. Here are five great careers with a Master’s in Statistics.
Biostatisticians use statistics and mathematics to advance the science of data analysis and come to certain conclusions. They’re found in many industries doing many different things. They research, analyze and study the decisive factors that affect the health and well-being of people, animals and plants so that they may learn more about diseases, disorders and various health conditions. When we hear statistics such as 70 percent of people with lung cancer die this statistic was probably made due to the work of a biostatistician. They also play a big part in the aerospace industry by analyzing data for groups like SpaceX and NASA. Their work results in the development of many analytical clinical trials.
Statisticians are used in many industries. They collect and analyze data to help them answer questions and come to conclusions. They work for companies like the Nielsen Television ratings by collecting and analyzing data regarding what groups of people in what age group watch certain television shows. They also use their expertise for organizations like the National Security Agency, where they collect, interpret and analyze data regarding international security. They may also work in the capacity of a biometrician or biostatistician. U.S. News & World Report ranks statistician first among Best Business Jobs, second among 100 Best Jobs and second among Best STEM Jobs.
3. Data Scientist
Data scientists look at data, analyze it and extract a specific meaning from the data using both machine learning and statistics. They also spend a lot of time cleaning the data so they can get the most accurate answers possible. They develop algorithms and models to store big data; analyze it to identify trends and patterns; discover the correct variables and data sets, and communicate their findings to shareholders or management teams. Although data scientists often work together, each data scientist must have a head for business strategy so that he or she may analyze the data and come to his solution.
4. Operations Research Analysts
Operations research analysts use analytical and mathematical methods to help companies solve programs and make better decisions. They find and solve problems in areas such as logistics, business, healthcare and other fields. Operations research analysts obtain their information from different sources, such as customer feedback and surveys, sales histories and computer databases. Once they have their information, they analyze it and find solutions to problems facing the company. They write up reports or memos, present them to the managers or supervisors and advise them as to what needs to be done to address and solve the problem.
Throughout history, people who enjoy and are good at math have often been called mathematicians. This is because mathematicians work with and solve problems using math. Using geometry and algebra, they develop new theories, mathematical rules and concepts to help determine what is used to answer specific problems or questions. They collect their data through opinion polls, experiments and surveys. Once they’ve analyzed and interpreted the data, mathematicians draw their conclusions and report their findings to the company so that they can solve problems and improve their decision making.
Related Resource: 25 Most Affordable Master of Statistics Degrees
Applied statistics is one of the nation’s fastest-growing fields and it’s showing no signs of slowing down soon according to the U.S. Bureau of Labor Statistics. Statistician jobs are expected to grow by 31 percent by 2028, which should result in about 13,600 new jobs in this field by 2028. This bodes well for candidates interested in careers with a Master’s in Statistics.