What is Statistics?
Statistics is a form of mathematical analysis that uses quantified models, representations and synopsis for a given set of experimental data or real-life studies. Statistics studies methodologies to gather, review, analyse and draw conclusions from data. Statistics are used to make better and informed business decisions. Statistics has its application in different disciplines such as psychology, business, physical and social sciences, humanities, government and manufacturing. The specialists use statistical data to analyse the problem and recommend accurate solutions for the same.
A brief about M.Sc Statistics
The M.Sc Statistics course is a 3-year post graduate course that can be done after the completion of the Bachelor’s degree. The M.Sc Statistics course is basically the offshoot of mathematics that lays essential emphasis on the concepts and processes involved in collecting and interpreting statistical data. The students of M.Sc Statistics will be learning about various techniques and methods involved in collection of the data.
Eligibility
The candidates who are interested to pursue M.Sc Statistics should need to fulfil the below mentioned criteria.
- The students should have completed BA or B.Sc in statistics or mathematics or computer applications from the recognised university with 60% aggregate in all the subjects
- The students should have passed their PUC or 10+2 classes with statistics or physics or mathematics or computer science or electronics as core subjects
Admissions to M.Sc Statistics
The students who are interested in M.Sc Statistics can take admission via two modes one is the merit based and second is direct admission under management quota. Some colleges may conduct entrance exams to select the right candidates for the M.Sc Statistics, while some will not conduct any entrance exams. The main aim to conduct entrance exams is to filter out the non-serious candidates. Only the students who are dedicated and hardworking are selected for the courses.
Two types of admissions processes
Merit Based Admissions
The students can choose merit seats by applying for the entrance exams (If any). The students who clear the entrance tests are selected for merit seats. Usually the fees for merit seats are less and are governed by the government.
Direct Admissions
The students can also choose to opt for direct admissions to M.Sc Statistics courses. The advantage in direct admissions is that the students are not required to appear for any entrance exams that are conducted by the institutions. The students can have the facility of hassle free admission under this process. The students who are interested in direct admissions can take the assistance of the educational experts of counselling centres.
Course Curriculum
The M.Sc Statistics students will be studying about different topics that are related to different fields. The important topics of the statistics are listed below:
- Ancillary Mathematics
- Measure Theory and Probability
- Distribution Theory
- Matrix Algebra and Numerical Analysis
- Design of Experiments
- Time Series Analysis
- Sample Surveys
- Linear Models and Regression Analysis
- Multivariate Analysis
- Econometrics and Economic Statistics
What to do after M.Sc Statistics?
Many students will be having this question in their minds about what could be done after M.Sc Statistics. The M.Sc Statistics students are having numerous career options like they can apply for UGC-NET exams to become Junior Research Fellow (JRF). They can join doctorate programmes and take up research activities in the field of statistics. They can join to top MNCs as data analysts, business analysts and many other positions.
Some of the highly lucrative jobs available after M.Sc Statistics are:
- Investment Analyst
- Statistician
- Cost Estimator
- Service Estimator
- Data Analyst
- Data Scientist
- Business Analyst
Recruiters hiring M.Sc Statistics
The increased demand for statisticians in recent years has created more scope and room for the freshers with a statistics background. The M.Sc Statistics are hired in both government and private organisations.
There are certain top recruiters that hire M.Sc Statistics students like:
- Tech Mahindra
- Infosys
- Maruti Udyog
- Bhabha Atomic Research Corporation (BARC)
- Kirloskar Electronics
- Tata Powers
- Mahindra & Mahindra
- Accenture
- IBM
- Cognizant
Concluding Words
The M.Sc Statistics students can find ample job opportunities in various organisations. They can get jobs in both government and private firms. The demand for the statistics students has increased in the past decade and it is predicted that this demand further increases in coming days. The students who are passionate about data analytics and data analysis can choose to join the M.Sc Statistics programme.