What is Statistics

The world that we live in makes important arguments, decisions and opinions based on the statistical numbers they receive. Statements are beginning to be considered as factual only if they have sufficient numbers to prove so. Hence there is an emerging need for statisticians. Moreover, there is a demand for dependable and reliable sources of data.


Statistics is a branch in mathematics that deals with collection, analysis and interpretation of data. The knowledge of statistics is applied in the fields of marketing, psychology, scientific research, economics, sociology, social sciences, public health and many others.


Statisticians are employed in various fields ranging from advertising, medicine, sports, social workers, corporate companies, banks, politicians to scientific research.


A course in statistics includes analysis, probability theory, learning statistical methods and database management systems. The main objectives of a statistician would be to procure data that is useful for various fields to be able to make predictions based on the obtained data.

Eligibility Criteria (UG & PG) of Statistics

For Undergraduate:

  • The candidates need to have completed 12th with at least 50% in all subjects from a recognised school; the cut off mark would differ in respect to different colleges.

  • The student must complete 12th with Mathematics as a core subject.

For Postgraduate:

  • Completion of Bachelors in Statistics or Mathematics or Mathematics with Computer Applications along with Statistics is mandatory

  • One cannot pursue a degree in statistics from any other field.

  • The minimum aggregate score of 50-60% at the level of graduation is required for admission into this program.

  • The cut off varies from each college.

Entrance Exams for Statistics


To get into universities, students must write an entrance exam that would be conducted by the respective colleges.  The most popular entrance exams have been mentioned below; there is no national exam for statistics in particular.


They are conducted by the respective prestigious institutions. Other colleges would have their entrance exams; these are the most sought-after entrance tests for the course.


  • BHU UET: It is an undergraduate entrance test at Banaras Hindu University.

  • IISER IAT:  is conducted by Indian Institutes of Science Education and Research.

  • DSAT: It is conducted by Dayanand Sagar University for admission into various UG and PG courses.

  • SUAT: This is the entrance exam conducted by Sharda University for both UG and PG.

  • CSIR NET: It is an entrance examination conducted by the National Testing Agency. It is a national level exam.

  • JNU Entrance Exam: It is conducted by Jawaharlal Nehru University for admission into the Master’s in  Statistics program.

  • ISI Entrance Exam: It  is conducted by ISI Calcutta to enroll students into their statistics course.

Scope of Statistics in India and Abroad

There is a lot of scope in the subject. The knowledge of statistics is useful in every field. Hence, specializations also have a wide scope. Being of use to varied fields, the scope for a career in statistics is huge. 


The government sector is the largest employer in this field. You could be a part of the administrative services, economic services, and policy making fields, the statistical organizations and planning commissions. 


Statistics have come to the spotlight ever since the pandemic broke out, we see how data and numbers are used every day to bring out policies and manage the entire nation. We see how crucial statistics has become for the entire world. Incorrect data collection, analysis and management could cause the entire nation and world to collapse, that’s how important statistics has become in the present world.


Having a career in statistics outside India is more advantageous. Mainly because research is one of the main job profiles in this field, research in India is still in the developing phase, and the payment scales do not complement the workload. Moreover, the job profiles are of a wider range and the employees have a higher pay scale.

Course Fees Statistics

Minimum Fees Maximum Fees
Private Government Private Government
UG
2.89 K
B.Sc. in Statistics at Sri Sarada College for Women, Salem
1.86 K
B.Sc. in Statistics at Kunthavai Naacchiyar Government Arts College for Women, Thanjavur
5.40 Lakhs
B.Stat in Statistics at Amity University, Noida
10.58 Lakhs
Dual Degree in Statistics at Indian Institute of Technology Kharagpur
PG
3.79 K
M.Sc. in Statistics at Multanimal Modi College, Modinagar
1.09 K
M.Sc. in Statistics at Government Arts College, Salem
4.20 Lakhs
M.Sc. in Statistics at Symbiosis Statistical Institute, Pune
1.40 Lakhs
M.Phil. in Statistics at Shyam University, Dausa
DOCTORAL
1.50 Lakhs
Ph.D in Statistics at Singhania University, Jhunjhunu
52.07 K
Ph.D in Statistics at University of Hyderabad, Hyderabad
8.11 Lakhs
Ph.D in Statistics at Bhupal Nobles University, Udaipur
1.35 Lakhs
Ph.D in Statistics at Institute of Infrastructure Technology Research and Management, Ahmedabad
DIPLOMA
24.00 K
M.Sc. in Statistics at Kalinga University, Raipur
3.00 K
M.Sc. in Statistics at Manonmaniam Sundaranar University, Tirunelveli
92.00 K
M.Sc. in Statistics at JECRC University, Jaipur
1.20 Lakhs
M.Sc. in Statistics at College of Veterinary and Animal Sciences, Mannuthy

Course Subjects

  • Calculus

The course teaches a lot of subjects, some of them are mentioned below:

·         Calculus

·         Algebra

·         Probability and Statistical methods

·         Applied statistics

·         Real Analysis

·         Survey Sampling

·         Numerical Analysis

·         Computer Programming in C

·         Linear models

·         Design of experiments

·         Econometrics

·         Biostatistics

Careers in Statistics

The knowledge of statistics is applied in the fields of marketing, psychology, scientific research, economics, sociology, social sciences, public health and many others. Statisticians are employed in various fields ranging from advertising, medicine, sports, social workers, corporate companies, banks, politicians to scientific research.

As mentioned above since Statistics is used in every field, it is easy to find jobs in any profile. It is important to complete your education from a recognized institution, as it will favour your employment.

Job Profiles and Top Recruiters

BNP Paribas
Cognizant
Genpact
Goldman Sachs Group Inc.
HDFC Bank Ltd.
Tata Consultancy Services Ltd.
Accenture Services Private Limited

Job Profile

Description

Statistician

Statisticians work with formulas and data to help solve problems in the industry, academia, and government.

They analyse data and apply mathematical and statistical techniques to help solve real-world problems.

Consultant

Work with clients and other project team members to scope projects and write proposals describing how you would tackle a client problem

Professor

You could become a professor and teach at various colleges and universities.

Risk Analyst

Risk analysts examine a firm's investment portfolios, including overseas investments, and analyse the risk.

They use their analytical skills to project potential losses and make recommendations to limit risk.

Data Analyst

The data analyst is responsible for the organization's data. The data provided by them is given to various stakeholders, who can then make decisions based on the data provided to them.

Business Analyst

Business analysts use data analytics to assess, process, determine requirements. They then use this data to make important decisions.

Mathematician

Mathematicians use mathematical knowledge to solve real world problems.

Data Scientist

They identify the data-analytics problems that offer the greatest opportunities to the organization and determine the correct data sets and variables.

 

Top Recruiters in Statistics Field

  • HDFC

  • Accenture

  • Cognizant

  • RBI

  • Neilson

  • Tata Consultancy Services Innovation labs

  • Blue Ocean Marketing

  • BNP Paribas

  • Goldman Sachs

  • Genpact

  • GE Capital

  • HP

  • Indian Market Research Bureau

  • Deloitte

Average Salary

Salaries in this field are usually less for freshers. They increase according to the experience and educational qualifications.


Job Profile

Salary 

Statistician

Rs. 5 lakhs p.a. (Approx.)

Consultant

Rs. 11 lakhs p.a. (Approx.)

Professor

Rs. 60,000 p.a. (Approx.)

Risk Analyst

Rs. 12 lakhs p.a. (Approx.)

Data Analyst

Rs. 6 lakhs p.a. (Approx.)

Business Analyst

Rs. 7 lakhs p.a. (Approx.)

Mathematician

Rs. 10 lakhs p.a. (Approx.)

Data Scientist

Rs. 7 lakhs p.a.(Approx.)

Biostatistician

Rs. 8 lakhs p.a. (Approx.)

Required Skillset for Statistics

Some of the basic skill sets required are mentioned below:

  • Mathematical skills -  The whole field revolves around mathematics. Thus prior knowledge and practice is recommended.

  • Logical reasoning - One must develop their logical reasoning as it helps you reason through important decisions and solve problems.

  • Statistical knowledge - As a student or aspirant in this field, it is a prerequisite that you have great knowledge about statistical models.

  • Ability to think on their feet - Text-book knowledge is insufficient in this field. One must be quick and should be able to think fast.

  • Communication skills -  Communication skills are very important. You need to be good at making conversations.

  • Extreme analytical skills - Being a statistician requires you to have an analytical eye with your data.

  • Besides that, one must have an impeccable hold on their written and oral skills and should have the ability to solve problems efficiently, and should have the skill to convert data to layman terms. 

Course Curriculum for Statistics

The course involves collection and analysis of data. Conducting surveys and accessing data. Applying mathematical and statistical knowledge to solve practical problems and interpret and present the data.


Through this course, students will be able to understand, learn and use knowledge of statistics and mathematics for a successful career in risk assessment and management.

Frequently Asked Questions (FAQs)

Question: Which degree is more beneficial to B.Sc. or B.A. in Statistics?

Answer :

Both are equally helpful, but the B.sc degree is more flexible. Even during recruiting B.sc degree is preferred in comparison to B.A. That does not imply that B. A is not a good degree, But B.sc offers a lot more exposure and variety in terms of job profiles.

Question: Is research the only option when it comes to Statistics?

Answer :

This is a wrong notion. Statistics field employs people into different job profiles; you can work in any required field of your choice. You could work with social sciences, you can get into the advertising field, you can teach. The opportunities are never-ending.

Question: Is it necessary to write the entrance exams?

Answer :

The entrance exams are the only way to get into the colleges. All Colleges will ask for your marks, and if you have the required marks you are allowed to write the entrance exams. The entrance exams vary from college to college, but the main syllabus remains the same.

Question: Can I take up statistics if I haven’t taken maths in my 11th and 12th?

Answer :

Unfortunately, that is not possible. Having a background in mathematics is extremely important. Without prior knowledge, it will be extremely difficult to get through the course. Hence you must have a background in Mathematics.

Question: What are the fields of employment?

Answer :

  • National Economy

  • Business 

  • Banking

  • Medical Science

  • Psychology 

Question: What are the top colleges for this course in India?

Answer :

  • Indian Statistical Institute, Kolkata

  • St. Stephen’s College, Delhi

  • St, Xavier’s, Mumbai

  • St. Xavier’s, Kolkata

  • Hans raj College, Delhi

  • Hindu College, Delhi

  • Lady Shri Ram College, Delhi

  • Rajas College, Delhi

  • Kirori Mal College, Delhi

  • Indian Institute of Technology, Varanasi

  • Madras Christian College, Chennai

  • Loyola College, Chennai

Question: What are the top universities for the course outside India?

Answer :

  • Stanford University

  • Harvard university

  • University of California

  • Georgia Institute of Technology

  • Massachusetts Institute of technology

  • University of Cambridge

  • University of Oxford

  • Princeton University

  • Columbia University 

Question: Why should I choose a career in Statistics?

Answer :

Like Mathematics, Statistics is everywhere. Everything we do requires numbers and data. The whole world functions on data. Accurate data collection, analysis and interpretation are essential for public policy planning. Be it science, Commerce or Humanity fields, statistics is essential for learning of the subjects.  

We see a rising need for accurate and reliable data. The present world functions on these numbers. Be it the efficiency of a leader, or a machine or a vaccine, every single thing is assessed with the help of statistics. 

Hence, we need a lot more people in these fields, it is one of the emerging and most crucial careers of all times. 

Question: Will a career in statistics be boring?

Answer :

As long as you have a keen interest with numbers, this job would be perfectly suitable. This is one of those careers that will not be monotonous. As time and place and situations change, the complexity of the data changes. 

Moreover, it always keeps you on your feet and makes your brain work. This will keep you interested in the job. It’s more like solving puzzles and brain teasers; they will keep you hooked on forever. 

Question: How important is Statistics?

Answer :

It’s as simple as this; the world will not function without statisticians. For any field to operate, you need the required data and research, which is provided by the statisticians. If you want to choose a career that will never go extinct, this is your choice. Even as other careers change, evolve and some reach the verge of extinction, this career of playing with numbers will never fade away. 



Questions related to Statistics

Showing 353 out of 353 Questions
2 Views

Is there any entrance examination for BSc statistics at Kerala university?

susanna.maryb 16th Jun, 2021

Hello Aspirant,

Most colleges that offer BSc statistics in Kerala do not require you to appear in an entrance examination however prestigious institutes like IISER do conduct entrance exams.

For merit based entry candidate should have passed (10+2) or High School Senior Secondary exam by the Central Board of Secondary Education (CBSE) or any equivalent exam conducted by any State Board or Equivalent. He/She should have secured a minimum 50% Aggregate with English as a subject. All SC/ST candidates have a relaxation of 5% in the minimum aggregate.(45% aggregate)

Hope this helps and Good luck

21 Views

carrer after msc statistics??? which type of job could i get??? is that file have scope??? how much salary??? $ job opportunities after msc nutrition or b.tech nutrition of how much salary???

Arshiya 16th Jun, 2021

Hello Aspirant,


Job profiles after MSc Statistics:

  • Statisticians
  • Business Analyst
  • Mathematician
  • Professor
  • Risk Analyst
  • Data Analyst
  • Content Analyst
  • Statistic Trainer

After studying statistics, you can also apply for the Civil Services, Indian Statistical Services & Indian Economic Services exams.


For information like skills required, average salary, more job opportunities, follow this link :

https://www.careers360.com/courses/statistics-course


All the Best!

8 Views

i have a 9/6.8/6.6 in my 10th, 12th and graduation ( bsc.statistics), im a GEN. DO i have chance in IIM LKI? can i get shortlisted? if so how much should i get in CAT?. secondly, with 5 months left for CAT is there any course i can do to push up my profile?

anirudha vats 13th Jun, 2021

Hey,

Seeing your past academic records I believe you should score as high as possible in your CAT exam so that some low scores in your academic will be covered up a but.

With just five months left for the exam I think you should be completely focusing on your CAT exam as the main things is to secure a call and if you can't be able to score high percentile in your CAT exam chances of getting an interview call will be very low.

I think a percentile above 98+ should be safe enough to secure you a call.

Hope that helps.

All the best.

Thank you

16 Views

Placement statistics of IIT Kanpur SPCOM M.Tech ?

nav53613 11th Jun, 2021
Hi aspirant,

IIT KANPUR is one one the prestigious colleges of the country. The placement rate is extremely high, top recruiting companies visit IITK every year offering really high packages.
I would like to state some top recruiting companies for SPCOM ( M. Tech ) -
Qualcomm
Intel
AIRBUS
Cisco
NetApp
Texas Instrument
Analog Devices
Deloitte etc

Thank you.
5 Views

please provide the unit wise marks of m.sc statistics for hcu entrance exam?

tyagiharsh79 13th Jun, 2021

Hello Aspirant,

The entrance exam of Hyderabad University for M.Sc. in statistics programme conducted through a written test. The written test includes only objective type questions. Candidates must have a good knowledge of B.Sc. level general Chemistry and basic mathematics to qualify the entrance exam. The question paper is divided into two parts: Part A carries 25 marks and Part B carries 75 marks. There is negative marking for each wrong answers by the candidates.

Check out the previous year paper of entrance test to know more details regarding this at http://igmlnet.uohyd.ac.in:8000/question-papers.htm


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