When it comes to business, the staff who power companies along are critical to their success. The flip side of this equation is the importance of choosing the right career path as an employee. It does pay to move into a career that you not only feel passionate about but pays well and involves work you enjoy.
Applied statistics is a popular choice for many people looking at which career path to take. This is perfect for people who enjoy digging into large data sets and drawing key insights from them. It can also involve looking at trends that data suggests and making future predictions based on them. It can be a fabulous career choice if you like to work with numbers and have excellent analytical skills, good attention to detail, decent IT/math skills, and a systematic approach to tasks.
While we will look at why this is further below, it is first wise to look at how to break into this sort of career.
Education is the first step
As with most higher-level career choices, the first step on your journey to a role based around applied statistics is getting the right academic qualifications behind you. That will mean you have the latest knowledge to succeed in this job and the proper credentials when applying for roles.
An excellent example of the type of course to consider is the Masters in Applied Statistics from Michigan Tech University. Its 100% online Master’s course not only covers all the key topics in this field but enables you to learn from home in a very convenient way. Without this type of education behind you, being eligible for jobs in this area and having the knowledge required to thrive is tough.
What next for breaking into an applied statistics career?
While education is the foundation of your journey on this career path, there are some things to do post-graduation. It is a great idea to begin looking for job openings as a starting point. The best way to do this is online because many companies now post vacancies via online recruitment sites. Social media platforms like LinkedIn are also a good source of vacancies, plus they give a chance to network with key people/companies in the applied statistics space.
In addition to job hunting, you can also find organizations offering work experience opportunities in relevant roles. This not only enables you to update your resume with this experience but also could see you taken on by the company where you do work experience. If you also make use of your personal and professional network to help with finding openings in job openings, then you should hopefully find the role of your dreams.
Why is applied statistics a good career choice?
Just as home workers will look for tips on setting up a home office, people thinking of moving into applied statistics will want to know more about the subject.
The simple facts are that working in this area is a great career choice. But why is this? To begin with, it often involves varied and interesting work. This is particularly true if you enjoy data-driven tasks and drawing actionable insights from numbers. The interesting nature of the work means this type of career can be very satisfying.
Applied statistics careers also come with decent salaries and a wide choice of specific roles in which you could work. Both factors are very attractive and make it a top career choice. The versatility that graduate degrees in this area offer is staggering, and you can work in sectors as diverse as sports, tech, and government.
The last primary reason heading this route makes sense is the high demand for people with applied statistics skills/qualifications. This is because companies across all business sectors need people who can take the vast amount of data they collect and analyze it effectively.
Will there always be applied statistics opportunities in the future?
Although the current demand for people with these skills might be high, those just thinking about moving into applied statistics might wonder if this will still be the case in the future. That is natural because you only want to invest your time and money into choosing a career path with long-term sustainability.
The good news is that the outlook for this recruitment sector is expected to be very positive. Applied statistics is one of the USA’s fastest-growing fields, and it is predicted to grow in the future. For example, US Bureau of Labor stats indicate that it will shoot up by 33% by 2026. This equates to US businesses needing around 12,400 more applied statistic experts on their payroll. With the ability to collect and analyze big data looking more critical for companies in the future, meaning the outlook for applied statistics career opportunities is rosy.
What type of roles could an applied statistics career include?
One of the most popular is data scientist. Professional data scientists look at the data collected by a company and perform an in-depth analysis. They also can be responsible for data modeling and using their insights to make future predictions. Their findings will then be reported to senior management for them to make strategic business decisions based on what has been found.
More and more companies are starting to hire industrial statisticians. This role usually involves market analysis and providing forecasts to senior management on which might be best to focus on. This role is beneficial for companies that sell goods and operate on a multi-national scale. You may also find the position of statistician appealing. This job uses your applied statistics skills to collect, organize, interpret and summarize key information. While this is another role commercial businesses use more and more, it is also seen in government departments (such as the NSA).
Applied statistics is a great career choice – now and looking ahead
As the above shows, moving into an applied statistics career is a smart move. Applied statistics skills are in high demand currently, and this is expected to grow in the future.