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All about B.Sc Statistics


All about B.Sc Statistics

Last updated: 22 May 2020

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Are you interested in studying statistics?

Are you passionate about numbers?

Are you fond of doing analysis and mathematical calculations?

Read this article till the end to know more!

What is B.Sc Statistics?

The B.Sc Statistics course is the combination of computer science and mathematics. The main aim of the B.Sc Statistics course is to train the students with various skills and techniques that are involved in various topics like permutations, probability, mathematical modelling etc. The B.Sc Statistics students are trained to deal with hordes of data and assess this data for making logical conclusions. The B.Sc Statistics students mainly check the risk factors involved in insurance, finance and other industries.

The application of statistics is done almost every day. The techniques of statistics can be applied to many fields such as economics, life sciences, data science, risk management, conflict management, marketing management to find solutions etc. The importance of the statistics course is that it plays a crucial role in the academic tapestry of not just a state but also the country as a whole. It is a well-known fact that almost all the disciplines make use of statistical tools in their many hypotheses.

The B.Sc Statistics programme is well suited for the students who have good reasoning ability, analytical skills, mathematical aptitude and are curious with a creative mind. The students who have completed their PUC or 10+2 are eligible to apply for B.Sc Statistics course.

What makes the B.Sc Statistics course beneficial?

The B.Sc Statistics course revolves around various aspects that prove to be important for the benefit of society.

Some of the aspects that make B.Sc Statistics beneficial are:

  • The B.Sc Statistics involves the study of the environment and demography of the particular location, which is very important for the government. As the data obtained from statisticians help the government to formulate policies that are helpful for the living on this planet.
  • The B.Sc statistics students are required to conduct experiments on consumer prices and try to reduce the fluctuations in the economy.
  • The B.Sc Statistics students who are hired in stock exchanges are required to analyse the financial condition of the country by monitoring the Sensex and shares of various companies that are listed on BSE and NSE.

Skills required to join B.Sc Statistics course

The B.Sc statistics course demands some skills and qualities from the students. These skills help the students to become successful statisticians in the future.

Some of the skills required are:

  • The students should have excellent analytical skills
  • The students should have excellent mathematical and calculation skills
  • The students should have effective communication skills
  • The students should have an eye to detail
  • The students should have good decision-making skills
  • The students should have an excellent mathematical aptitude
  • The students should have good verbal skills
  • The students should have excellent writing skills
  • The students should have patience and persistence
  • The students should be problem solvers by nature
  • The students should be capable to take independent decisions
  • The students should have good team player skills

Career Scope for B.Sc Statistics

The B.Sc Statistics students can find ample job opportunities across various sectors that are related to the mathematics and statistical fields. The B.Sc Statistics students can find jobs in both the public sector and the private sector.

Some of the employment areas where the B.Sc Statistics students are hired are:

  • Banking Sector
  • Trading Companies
  • Transportation Sector
  • Stock markets
  • IT Sector
  • Economic Sector
  • Tax Sector

Some of the job roles available for the B.Sc Statistics students are:

  • Financial Analyst
  • Data Analyst
  • Financial Accountant
  • Data Minor
  • Statistician
  • Market Research Analyst
  • Statistics Consultant
  • Credit Risk Strategist

Salary Package

The average B.Sc Statistics students will be earning an average salary of 3 lakhs to 5 lakhs per annum. The average fresher B.Sc Statistics professional will be earning nearly 3 lakhs per annum. The salary varies according to the recruiter and location. The salary increases exponentially according to skills and experience gained in the careers.

Placement Opportunities

The B.Sc Statistics students can find ample job opportunities across various sectors that are related to mathematics and calculation. They are also hired in some IT companies that deal with data analysis and data mining.

Some of the top recruiters hiring B.Sc Statistics students are:

  • Amazon
  • Deloitte
  • Tata Consultancy Services
  • Blue Ocean Marketing
  • Cognizant
  • Nielsen Company
  • GE Capital
  • Genpact

Conclusion

The demand for the B.Sc Statistics students has increased by many times. The last decade saw a steep increase in the demand for skilled statisticians. The B.Sc Statistics students are also hired in many data mining companies, IT companies etc. The students with a passion for mathematics can choose to join B.Sc Statistics and become statisticians to earn handsome salaries.

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