Applied statistics is the process of collecting data, analysing, managing data, interpreting and drawing conclusions from data, identifying problems, solutions and opportunities using the method of analysis. The practice of applied statistics helps to build critical thinking and problem-solving skills in empirical research and data analysis. You can do your Master in Statistics in India from any reputed statistical institute to learn more about this subject.

Understanding Applied statistics in detail

The practice of applied statistics involves analysing data to help determine and explain the business needs. Today, the modern workplaces are overwhelmed with big data and are looking for statisticians. They are needed to help with the roles of :
Data analysts
Data scientists
Apart from these, there are other professionals with applied statistics knowledge who can organise, analyse, and use data to solve real-world problems with ease.

What are the roles and responsibilities of a statistical analyst?

Statisticians use applied statistics to solve practical problems in today’s data-centric world. They are the ones who decide what data is required. They mainly focus on some specific areas. These areas include the following:
To collect
Determine how to manage that data
To analyse data
Interpret the data using statistical tools, algorithms, and software.
To conclude, we can say that the role of statisticians is to take data and execute them into action. Some of the functions that a statistician plays are mentioned below:
Studying the effectiveness of new pharmaceutical products
Predicting the potential outcomes of political campaigns
Understanding the risks and returns related to financial investments
Collecting the market study research report on online shopping habits
Determining the trends of the stock market
Affecting public policy
Improving manufacturing processes

What are the career opportunities that a statistician can expect to get?

If you are willing to do Masters in applied statistics in India, then you could definitely get many job opportunities based in this field. This is because the subject of applied statistics is vast and is quite popular in today’s society. Here is a list of job opportunities that you can expect to get:
Statistician
Data Scientist
Data Analyst
Quality Engineer
Manufacturing Engineer
Statistical Engineer
Validation Engineer
Finance and Accounting
Risk Analyst
Financial Analyst
Quantitative Analyst
Actuarial Director
Financial Crimes Analyst
Compliance Officer
Machine Learning Researcher
Intelligent Automation Technology Associate
Statistical Programmer
Data Architect
Marketing Analyst
Business Analyst
Marketing Research Manager
Biostatistician
Clinical Informatics
Health Research Analyst
Statistical Scientist
Science and Research & Development
Modeller
Cognitive AI Data Scientist
Today there are many colleges and universities that can provide you with this course. Among them, the best college for completing your higher education in applied statistics is the Symbiosis Statistical Institute (SSI) Pune.