The study of how data is collected, organized, analysed, interpreted, and presented is known as statistics. Because statistics can be used in all scientific fields of study, it is regarded as being interdisciplinary. It revolves around two key ideas, which are uncertainty and probability. The study of probability is concerned with the attempt to comprehend and direct the outcome of the sources of variation in any circumstance. Statistics as a subject is used in business, government, manufacturing, and other scientific fields like the physical and social sciences.

Many countries conduct ongoing research to enhance their economic development. When it comes to resolving economic issues like wage, price, and demand analysis, statistical data as well as methods of statistical analysis are of tremendous assistance. When it comes to determining the preferences of customers, business executives are increasingly relying on statistical methods.

Descriptive statistics, which describes the properties of sample and population data, and inferential statistics, which uses those properties to test hypotheses and draw conclusions, are the two main areas of statistics. Quantitative information about sale, purchase, finance, and other business activities are some of the most common applications of statistics. Statistics is also the basis of economics. Data on the consumer's income and expenditures can be used to determine the highest level of satisfaction. The different laws of demand and supply rely upon the information concerning price and quantity which relies upon factual data.

Study Levels:

Data are being collected all the time, from medical studies to research experiments, from polling organizations to observers at the United Nations. The various study levels that students can pursue in this field are listed below:

• B.Sc Statistics
• Bachelors in Applied Mathematics and Statistics
• B.Sc in Applied Statistics and Data Science
• B.Sc Mathematics with Statistics
• Bachelor in Economics and Statistics
• Bachelor’s degree in Economics: Business Statistics and Analytics
• MSc in Mathematical Statistics
• Masters in Business Analytics
• Masters in Applied Statistics
• MSc Statistics
• Masters in Applied Statistics with Network Analysis
• Masters in Mathematics and Statistics
• Masters in Economics and Data Analysis
• Masters in Official Statistics and Social Economic Indicators
• MPhil in Statistics
• Ph.D. in Statistics

Specializations:

Students are prepared to apply statistics to real-world problems in business and government through specializations, which provide an in-depth understanding of the theoretical foundations of statistics. The various specializations that are available are:

• Environmental Statistics
• Psychometrics
• Financial Statistics
• Chemometrics
• Applied Statistics
• Statistical Computing
• Bioinformatics and Biostatistics
• Econometrics
• Survey Statistics

Employability:

Skills acquired through a degree in statistics can be especially useful as businesses continue to rely on statistics to guide and expand their operations and discover new applications for data analysis. Statistics can further develop business operations as well as the overall personal satisfaction of consumers. Industry, science, medicine, and many other fields benefit greatly from the solutions provided by professionals with a background in statistics. Jobs for statistics majors can be found in a wide variety of fields, including marketing and finance, medical research, and information technology among others. The various options for careers include:

• Statistician
• Mathematician
• Data Scientist/Analyst
• Actuary
• Data Engineer
• Economist
• Investment Analyst
• Financial Analyst
• Market researcher
• Teacher/Professor
• Biostatistician
• Business Intelligence Analyst