5 Reasons You Should Consider Getting a Statistics Degree

When people think about a new and exciting learning field, statistics is not usually the first thing that comes to mind. But the current world is undergoing a major shift – one that many people might not see from the surface. We’re increasingly being ruled by data, and it is having much more of an impact on our daily lives than many may imagine. And at the forefront of this innovation is statisticians, who will be in large demand to not only compile, but interpret this data and come up with real life applications for them. Statistics is one of the most sought-after fields right now, and the demand is through the roof. Let’s take a look at a few reasons why you should consider studying statistics.

1. Getting a Degree is Easier than Ever

Did you know that you can get your degree in statistics completely online nowadays? Not only that, but online degrees from reputable institutions are highly regarded in this field due to their quality. Statistics is one of these fields that adapts really well to an online education, and you’ll get the exact same level of qualification as any other student. Michigan Tech’s online statistics degree is one of the most respected in the industry and will give you the foundation to interpret and analyze data from a wide range of industries and use it to improve processes and performance. You could work as a data analyst for a major organization as well. Not only that, but you’ll also be able to get your degree much faster than you would through a traditional brick and mortar college.

2. Job Prospects and Salary

Another great reason to get into statistics is the incredible demand in the field. According to the Bureau of Labor Statistics, it was estimated that jobs for statisticians are set to increase by 27% from 2016 to 2026, which is unheard of. Not only that, but people working in data science are some of the most well paid in any field. If you want to work as a statistician, you could earn as much as $80,000 straight out of the gate. But if you start looking at positions such as data scientist, then the average income revolves around the $130,000, which is one of the most lucrative positions you can find anywhere.

According to a report by the McKinsey Global Institute, it was estimated that over 190k new professionals with the proper set of data science skills will be needed to help deal with the increasing demand posed by Big Data. These will be in particular demand in business intelligence operations and the public sector.

3. Wide Variety of Sectors

Another great thing about statistics is the wide variety of sectors you could work in. If you are bored working in one industry, you can easily apply your skills of statistics and start working as a statistician in another field. In addition, if you have another strong interest besides statistics, it is almost guaranteed that you will be capable of combining two of your passions into one profession. This kind of work satisfaction is hardly matched by any other field and it is one of the reasons why so many people decide to study statistics.

Are you interested in social networking, e-commerce, or marketing? There’s a job there for you. Or maybe you’d rather work in the healthcare industry? There are jobs there for you as well. Whether you want to work in the corporate or manufacturing world, or want to give your life to a cause like wildlife preservation or climate changes, your skills as a statistician will always be in demand. You also have the chance to work in academia, or in government. Or you could work as part of a campaign team and drive political change.

Another great thing is that as a statistician, you don’t have to work in one field either. Your goal is to be able to take a complex set of data, and being able to make it digestible to a wide audience. You could be asked to work on all kinds of projects, may it be market research, veterinary practice, or a board of education. Your skillset could take you literally anywhere, and no two days are the same.

4. It Will Improve Your Daily Life

Becoming a master of statistics not only prepares you for professional work in the industry; mastering statistics will also benefit your daily life. 

For example, if you are a sports fan, knowing how statistics work will add a deeper layer to a sport, which will greatly increase the pleasure you get from watching it. If you are a card game fan, having a degree in statistics will improve your performance at games like poker, blackjack and even collectible card games. If you know how numbers and statistics work, you are guaranteed to play better. You can even apply statistics to broader areas of your life, like sleep. After getting a degree, you will be capable of making a database of your sleep patterns and find out when and how you sleep the best, thus, improving your sleep quality. If you enjoy exercising, statistics can be applied here too as you can net a great increase in the efficiency of your training. Overall, there are numerous areas of your daily life which can be improved by a knowledge of statistics.

5. High Women Representation

Another point in favor of statistics is that it is one of the STEM fields with the highest gender parity. This not only makes for a better learning atmosphere for women, but it makes it easier for their expertise to be respected once they enter the field. As a matter of fact, it has been estimated that currently 50% of all statisticians and mathematicians are women, which is very promising for the future of the field. 

As you can see, there’s nothing boring about being a statistician. You’ll get the chance to work in virtually any field, be at the forefront of the new data economy, and make changes that will affect society as a whole.