A brief Introduction to Statistics
Statistics are the set of mathematical equations that we use to analyse the things in the real- world. The statistics keeps us informed about the things happening in the world around us. In the era of digital world and information, statistics plays a major role in giving us the exact problems and proper solutions for the same. Statistics has its application in every sector of the economy. To determine the exact data of relevant fields, the statisticians use their techniques to generate accurate results that are beneficial for various policy making decisions and business development opportunities.
Career Scope and Job roles available in the field of statistics
The M.Sc Statistics students are largely hired across various organisations. It may be IT, manufacturing, service, factories, government agencies and the list goes on. There are many job roles available for M.Sc Statistics students in today’s context. The list below mentions a few important job profiles in the field of statistics.
Actuarial Analyst
The actuarial analyst job is best suited for the candidates who have strong mathematical ability and excellent analytical skills. The actuarial analysts should be good at problem solving and enjoy analysing the data.
Role of an Actuarial Analyst
The actuarial analysts will be using statistical formulas and techniques to assess the risk. They are usually hired in insurance companies across the world. The main job of the actuarial analyst is to calculate the premium that is to be paid for any insurance according to the age and health condition of the customer. He/she is responsible to determine the premium amount for the policies according to demographics of local areas.
Types of Actuarial Analysts
As an actuarial analyst the professionals will specialise in following areas like:
- Finance
- General insurance
- Health & Care
- Pensions and other employment benefits
- Savings and investments
- Software development
Responsibilities of an Actuarial Analysts
As an actuarial analyst, one is required to:
