Which degree should I study after completing a master's in statistics here in India?
Asked by Drashti Patel about 1 year ago
Numerous employment choices are available following an MSc in statistics, including the MSc. In addition, statistics are becoming increasingly popular in several banking institutions, consultancy firms, and public sectors.
As a mathematics branch, statistics involves gathering, reading, analyzing, and presenting data. In addition, mathematical and applied statistics are included in the research area.
Data analytics: You can work for any analytics company and help clients discover trends in their data. A customer with "A Plan" has the highest likelihood of purchasing "B Value Added Service," which is a significant value source. You might be the one that manages their analytics through this company.
Let's examine data analytics in banks about data analytics. Using digital imprints, fraud detection algorithms can be created. Therefore, if you were a bank employee, you could conclude that there had been fraud if there had been three attempts to use the same card at three different ATMs and the PIN was quite similar to the first one. Of course, large volumes of data need to be analyzed for this, but your foundational training will help you with that. The field of digital forensics might be a professional option.
Market Research: Let's consider doing a poll to learn more about consumer expectations and behaviour. How can you make sense of all the data from online and offline sources so you can take meaningful, helpful action? You must apply the statistical techniques you studied in class. Therefore, market research may be a significant area of attention in an MR firm or corporate entity.
Software Programmer: Given your aptitude for analysis, you might work in the field of software programming. Although it might not use your knowledge, it will use the "bend of mind" you developed during your education.
You could concentrate on subjects like Visual Data Representation (Tableau, Quick, PowerBI) and Data Reporting (Crystal Reports), which are related to your core competencies.
Government Statistician: The nation needs a lot of statistical and econometric data to function—statistics on acreage, yields, health, and other topics. We also need intelligent, idealistic young individuals to manage our country.
You can work as a district statistical officer, gathering data from the district, processing it, and sharing it with the state authorities.
Overall, I believe you are in a hot area, my friend. Keep your passion for mathematics alive. Decide on a speciality. Develop other abilities with it. If you follow this advice, your future is in good hands.
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