Why should you pursue a Masters in Applied Statistics qualification?
Education is essential as it prepares us to navigate daily life productively and enjoyably. If we did not learn to read or write, getting through each day would prove very tricky! Learning is not just crucial for our personal lives; getting the proper education and skills is essential for a successful career.
One of the hottest recruitment sectors with this in mind is applied statistics. The demand for people with these skills has grown massively recently and is likely to continue to rise. In the USA, for example, it is thought that the applied statistics field will grow 33% by 2026! This kind of industry prediction shows just what a vibrant career path this is to take.
Getting the qualifications you need to forge a career in this field is essential. To do so, many people choose to complete a Masters in Applied Statistics course. But what is this qualification about, and why should anyone wanting to work in this area pursue the qualification?
What is a Masters in Applied Statistics?
A Masters in Applied Statistics is a high-level academic qualification that prepares you for roles that work with large datasets and performs in-depth analysis of them. The 100% online Masters course offered at Michigan Technological College is a popular program that enables you to access world-class teaching from home.
Typical topics covered in this kind of course include:
- Advanced statistical methods – teaches you about the latest tech in applied stats along with tested techniques
- Communication and leadership – develop professional skills to present insights to senior management with confidence
- Problem-solving – real-world experience of delving into datasets to gain insights, overcome common issues, and power decision-making in business
- Tech and programming – teaches you programming languages/tools such as Python
As the above shows, Masters courses in applied statistics offer higher-level learning in various vital topics. But just why is pursuing this type of qualification so important?
Essential for career prospects
We all know that physical education inside schools is essential – but pursuing this award is just as significant for those looking to forge a career in applied statistics. There is no doubt that it will have a positive impact on your career prospects moving forward and help make your resume much more attractive to employers.
As in any industry, getting your foot in the door of applied statistics is tricky and standing out from other candidates is a must. By gaining a Masters qualification, you will instantly stand out from many other candidates who might not be as highly qualified. This kind of award also ensures potential employers know you have what it takes to perform the role.
That is especially true for more senior job openings, where holding a Masters degree can be a real advantage. In many cases, higher-level roles will only be open to those with this degree, so studying for a Masters in Applied Statistics can present more significant career opportunities.
Arms you with the skills and knowledge to succeed
Pursuing this course is not just about how impressive this award looks on your resume and the jobs it opens to you. If you are successful in bagging an applied statistics-based position, this qualification means you have the skills to succeed.
Without the vital knowledge this course imparts, you might not be able to perform to the required standard and not do as well. Although you could try to learn these skills via self-driven study, it is unlikely that you will gain anywhere near the same results as by acquiring the latest knowledge from expert tutors in a professional educational setting.
Wide choice of roles post-graduation
One of the primary reasons people like to pursue this type of Masters award is the variety of roles it opens after graduation.
This is a good reason to enroll in an applied statistics course because it gives you so much scope for your future career. It not only gives you lots of roles to choose from but also means you can pick one that involves the type of work with numbers you like doing best.
But which careers can you get into with this qualification? Data scientist is perhaps the best known where you perform data modeling and analysis to draw out actionable insights/future predictions from datasets. With an average salary of around $98,230, this role is also well-paid.
A data engineer is another well-paid role with an average salary of $110,483. The work involves organizing and preparing data that a business has in its systems/databases. Being a statistician is another popular applied statistics-based role; individuals in the job earn $95,570 on average. The routine tasks you would be responsible for include managing data collection and the design of surveys.
It helps to expand your knowledge in general
While many of the reasons to follow a Master’s program in applied statistics can focus on building a career, it may not come down to this for everyone. Some people may enroll simply to expand their knowledge or because they enjoy working with statistics.
Although they may not actively be looking to switch careers or use it immediately, others might simply want to have it on their resume as an additional example of their interests/learning. Those who have retired might enroll in this program because they need something to do in their spare time to stay mentally sharp. Pursuing this qualification can be worthwhile for several reasons besides breaking into applied statistics as a career.
Studying for a Masters in Applied Statistics is worthwhile
There is no doubt that pursuing a Masters in Applied Statistics qualification is worthwhile. It might be simply to expand your general knowledge or find something interesting to do in your spare time. For most students, the significant benefits are how it helps them break into a career in this field. As the demand for those with applied statistics skills is likely to soar in the future, having this kind of educational qualification under your belt is advisable if you are considering a career in statistics.