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$110,560Potential Avg. Salary*
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* Salary & growth data is based on the recent Bureau of Labor and Statistics data published at https://www.bls.gov/oes/current/oes152011.htm for 15-2011 Actuaries 11/2021. Based on national data, not school-specific information. Conditions in your area may vary.
With a bachelor of science in statistics, you’ll learn how to collect, analyze, and present data as a basis for decision-making. Data-based decision-making is an important component of many careers across a diverse set of industries, such as technology, psychology, healthcare, and business. Statistics students learn how use calculus, algebra, and applied statistics to read and interpret data and determine probability.
What is a Degree in Statistics?
Many people mistake mathematics and statistics as identical areas of study. However, statistics is a distinct discipline that’s focused on using mathematical concepts to determine probability. In a bachelor’s degree in statistics program, students learn how to apply the math of statistics to determine the probability of something occurring. It could be the probability of someone with certain characteristics making a purchase online, or the probability that a drug will have a negative side effect.
The applications of statistics are vast, and with the growing popularity of the internet, the need for people who can collect, analyze, and discover meaning from large data sets is more in demand than ever. Graduates can work in business as data analysts, in medical research studying effects of new pharmaceutical drugs, in sales and marketing conducting market research and developing targeted advertising campaigns, or in biology, applying statistical equations to make predictions on the future of the planet and its inhabitants.
What Courses Would I Take For a Major in Statistics?
- Linear Algebra
- Applied Statistics
- Theory of Statistics
- Statistical Methods
- Differential Equations
- Data Analysis
- Multivariate Analysis and Data Mining
What Jobs Can You Get with a Degree in Statistics?
Individuals who are qualified statisticians should have no trouble finding work after graduation. In fact, data analyst and statistician jobs are expected to grow in demand at a significantly higher rate than most other careers in the coming decade. The growth in the field is expected to be the result of big data—the amount of data that’s now available as the result of online browsing behavior and mobile phone usage. As more companies seek to utilize big data to their advantage, more data analysts will be required.
How Long does it take?
A bachelors in Statistics will have a typical length of 4 years in a full time schedule. That said, there are many ways to speed up the timeframe by either taking more units via online coursework, community college, or taking free classes at OnlineDegree.com that could transfer to universities in the US.
Online Statistics Degree
Statistics is a difficult field of study but it is exciting for people who enjoy working with numbers. Students are required to complete 120 credit hours which can normally be completed within 4 years of study. Some accelerated programs can be completed within 18 months. Most programs allow students to choose a minor to broaden their experience such as business analysis for example. You may also choose to earn a master’s degree in statistics which includes around 30 – 40 credit hours as long as you have a bachelors degree in a related field.
What Can You Do With a Statistics Degree?
Statistics is a mathematical field that uses models, representations and synopses for organization, analysis and interpretation of data. It aims at determining the significance of data or differences between subject groups. Statistical analysis is essential part of research in a variety of sciences including business, sociology, medicine and pharmacy among others. Additionally, it provides the foundation for new technologies as machine learning and artificial intelligence. If you enjoy working with numbers then choosing statistics as a college degree is a good choice that can open future opportunities in a wide variety of fields.
What does a statistics student learn?
Statistics can be viewed as a specialized form of mathematics with more focus on applications. Students will learn the mathematical foundations for the statistical models, choice of the right model and applications to real life examples.
- Elementary statistical analysis: this course provides the basic tools for analysis of quantitative data which is important tool used in almost all fields of scientific research
- Economics: this is one of the major fields for the use of statistics. Analysis of data related to economics is essential to provide indicators for the performance of the economics and points out to opportunities and challenges.
- Business analysis: this is similar to economics but applying statistics to smaller economic entities as companies or organizations.
- Calculus: it is defined as the study of continuous stage and it is mainly divided into two main branches which are differential calculus and integral calculus.
- Mathematical game theory: this course introduces mathematical models used to explain interaction between decision makers. This mathematical theory is used in different disciplines including social science, logic and computer science.
- Discrete mathematics: it is the study of mathematical structures that are discrete rather than continuous which include integers, graphs and statements.
- Linear algebra: it is a branch of mathematics that deals with linear equations and maps in addition to their representations as vectors and matrices.
- Applied quality assurance: quality assurance is basically an application of statistics as it is used for determination of sample size, sampling procedures and conditions for acceptance or rejection of a production batch.
- Other courses: statistical programming, advanced probability, statistics theory, variance model analysis, complex variables, geometric analysis, mathematical logic and technology in mathematics.
Now I have the statistics degree…where can I work after graduating?
Statistics is a basic science field of study that provides a wide range of opportunities for the graduates. However, sometimes students may need to get specialized experience in the field of application along with the knowledge in statistics. The following careers can be considered for graduates:
- Data scientist and analyst: the role of this job is to analyze available data to identify trends, changes or abnormalities.
- Actuary: the role of people in this position is to provide counseling related to financial, commercial and strategic topics.
- Operational researcher: the role of the researcher is to evaluate the performance of organizations and companies to suggest better systems and procedures.
- Statistician: working in the academic field is a popular choice for statistics graduates where they work in the development of new models and theories.
- Other available jobs: business analyst, chartered accountant, economist, financial manager or machine learning engineer.
Should I choose a statistics degree?
The nature of statistics careers is unique compared to other career options. You will work mainly with data, and sometimes, with limited interaction with other people. The massive explosion of the amount of data available and the development of advanced statistics programs changed the way companies can benefit from the data. If you are interested in working with numbers then you should consider the following skills to become a successful statistician:
- Practical and strategic methods to complete the work
- Close attention to details since changes or mistakes in few numbers can result in completely different results.
- The ability to communicate effectively with others to explain the results and approach to people lacking knowledge of statistics.
- Patience and persistence: sometimes statisticians need to modify parameters, change models or other choices to reach acceptable results.
- Time management: some of the jobs for statistics graduates particularly those related to economy are time sensitive and require strict commitment to schedules and deadlines.
Best Jobs for Statistics Degrees
Some graduates of statistics bachelor’s degree programs earn graduate degrees and go into the fields of medical research or biology. However, more often graduates end their education with a bachelor’s degree and pursue jobs in technology as data analysts, data miners, and data scientists. These individuals find work in a variety of industries, including technology, marketing, and manufacturing.
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Get a Certificate in Data Analysis First
Data analysis is an important part of the study of statistics, and students can jumpstart their careers by earning a certificate in data analysis before pursuing a bachelor’s degree. With a certificate, you may be able to find entry-level work as a data analysts or data miner, which will help you earn both experience and income sooner. Then, you can pursue a bachelor’s degree in statistics, and the credits you earned in your certificate program may transfer to reduce the number of courses you have to take.