What is Statistics
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. The world in which we live bases crucial arguments, judgements, and attitudes on the statistics it receives. Increasingly, claims are only regarded as factual if they can be supported by a large enough body of data. Consequently, there is a growing demand for statisticians. Additionally, there is a need for trustworthy and credible sources of data.
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 per cent 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 per cent 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: BHU UET is an undergraduate entrance test at Banaras Hindu University.
IISER IAT: IISER Aptitude Test 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: CSIR NET is an entrance examination conducted by the National Testing Agency. It is a national level exam.
JNU Entrance Exam: JNU Entrance Exam is conducted by Jawaharlal Nehru University for admission into the Master’s in Statistics program.
ISI Entrance Exam: ISI Admission Test 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 organisations 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 is 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 |
---
Data not available
|
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Data not available
|
14.00 Lakhs
B.Sc.(Hons) in Statistics at Alliance School of Liberal Arts and Humanities, Bengaluru
|
14.56 Lakhs
BS MS in Statistics at Indian Institute of Technology Kharagpur
|
| PG |
1.72 K
M.A. in Statistics at Dayanand Anglo Vedic PG College, Dehradun
|
---
Data not available
|
3.74 Lakhs
M.Sc. in Statistics at Sunandan Divatia School of Science, Mumbai
|
1.89 Lakhs
M.Sc. in Statistics at Maharaja Krishnakumarsinhji Bhavnagar University, Bhavnagar
|
| DOCTORAL |
---
Data not available
|
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Data not available
|
7.20 Lakhs
Ph.D in Statistics at Sister Nivedita University, Kolkata
|
2.11 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, Wayanad
|
Course Subjects
The course teaches a lot of subjects, some of them are mentioned below:
Calculus | Computer Programming in C |
Algebra | Linear models |
Probability and Statistical methods | Design of experiments |
Applied statistics | Econometrics |
Real Analysis | Biostatistics |
Numerical Analysis | Survey Sampling |
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.
Upcoming trends
Since both qualitative and quantitative data are required for statistical analysis and proof, there has been an increase in the number of statisticians hired. The need for this type of work is increasing because of our reliance on numbers. Companies from a wide range of industries around the world have been undergoing what is being referred to as a "digital transformation."
Businesses are taking traditional business processes and using digital technologies to make them easier and efficient. Statistics has become an integral part of those transformations. Instead of making decisions based on assumptions, and poor surveys they are analysing large amounts of real data to base their decisions on real, data-driven facts.
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 Management Analyst | Risk Management 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 | Blue Ocean Marketing |
Accenture | BNP Paribas |
Cognizant | Goldman Sachs |
RBI | Genpact |
Neilson | GE Capital |
Tata Consultancy Services Innovation labs | HP |
Deloitte | Indian Market Research Bureau |
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.
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.
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Frequently Asked Questions (FAQs)
Question: Q. What were the UG placement statistics for Lalit Narayan Mithila University in 2024?
Answer :
In 2024, out of 327 students graduating within the minimum stipulated time, 197 students were placed, with a median salary of Rs 4,50,000.
Question: What are the recent placement statistics for SCET Nagpur?
Answer :
According to NIRF 2024, 102 out of 207 students who graduated from SCET Nagpur's B.Tech programme were placed, with a median salary of Rs. 2.80 LPA.
Question: What are the placement statistics for the year 2021 at GPT Karkala?
Answer :
In 2021, Government Polytechnic Karkala witnessed placements in various departments with 1 student from Civil Engineering, 3 from Computer Science and Engineering, 10 from Mechanical Engineering, and 23 from Electronics and Communication Engineering.
Question: What are the placement statistics for the year 2021 at GPT Karkala?
Answer :
In 2021, Government Polytechnic Karkala witnessed placements in various departments with 1 student from Civil Engineering, 3 from Computer Science and Engineering, 10 from Mechanical Engineering, and 23 from Electronics and Communication Engineering.
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.
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: 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: What are the top universities for the course outside India?
Answer :
The top universities for Statistic course outside India are 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: What are the top colleges for this course in India?
Answer :
The top colleges for Statistic course in India are 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 fields of employment?
Answer :
The fields of employment for students are businesses, banking sector, medical science.
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: 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: 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: 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.
Questions related to Statistics
Showing 591 out of 591 Questions
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Hi I want to take admission in ISI for Matsers in statistics what is the syllabus for the entrance exam
To get admission to the
M.Stat (Master of Statistics)
program at
ISI (Indian Statistical Institute)
, you need to appear for the
ISI M.Stat entrance exam
. The exam consists of
two papers
:
Paper 1:
-
Duration:
2 hours
-
Syllabus:
-
Mathematics:
-
Calculus (limits, continuity, differentiation, integration)
-
Sequences and series
-
Linear Algebra (matrices, determinants, vector spaces)
-
Probability (basic concepts, distributions, expectation, variance)
-
Set theory, functions
-
Statistics:
-
Descriptive statistics
-
Basic probability distributions (Binomial, Poisson, Normal)
-
Sampling and estimation basics
Paper 2:
Descriptive Type (Written Answers)
-
Duration:
2 hours
-
Syllabus:
-
Mathematical Statistics:
-
Point estimation, interval estimation, hypothesis testing
-
Properties of estimators (bias, consistency, efficiency)
-
Probability Theory:
-
Random variables, joint distributions, independence
-
Law of large numbers, Central Limit Theorem
-
Mathematics:
-
Advanced calculus, multivariable functions
-
Linear algebra, eigenvalues, and eigenvectors
3 Views
What are the placement statistics of IMT ghaziabad?
Dear Shawshank,
I mean
-
Solid average and median packages around Rs.16-17 LPA
-
Impressive high end offers
-
Strong industry reach with diverse recruiters and new entrants.
Recruiters:- 200+(including 86 new companies)
Leading Sector (70% of offers):- BFSI, IT/ITES, Consulting, Consumer Goods/Products
THANKS!!
2 Views
I want an admission in Kerala university, palaysm, Thiruvananthapuram for msc statistics with specialization in data analytics
Hello Gopika,
Yes, you can pursue an M.Sc. in Statistics with a specialization in Data Analytics at University College, Palayam, Thiruvananthapuram, affiliated with the University of Kerala.
Course Details:
-
Duration: 2 years (full-time)
-
Total Fees: Approximately Rs. 17,760 for the entire course
-
Seats: 12
-
Eligibility: Graduates with a B.Sc. degree (3-year duration) under the 10+2+3 pattern from any recognized university
Admission Process:
Note: Ensure you meet the eligibility criteria and submit your application within the specified dates. It is advisable to check the official website for any updates or changes to the admission process.
I hope this answer helps you. If you have more queries, feel free to share your questions with us, and we will be happy to assist you.
Thank you, and I wish you all the best in your bright future.
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