Statistics Courses in the US: A Guide for International Students

What is statistics? Statistics is a branch of applied mathematics which includes the study of data: how it is collected, analyzed, presented, and interpreted. If you want to pursue a career in statistics, you can look forward to exciting job roles that involve analyzing data to solve real-world problems for organizations across a variety of industries.

Read on to learn more about statistics, including statistics courses offered at Shorelight universities, job roles statistics majors can apply for, and more!

What Is Statistics?

Statistics is considered the “science of learning from data.” It involves collecting information through data-gathering tools and research methods including surveys, questionnaires, experiments, and polls, and then analyzing and interpreting the results to discover useful insights that can be used to support organizational or research goals. 

Professionals who work with different types of data may be called data analysts and statisticians. These roles are also responsible for performing company data reviews, preparing industry reports, and advising executive leadership on strategic business decisions.

Why Study Statistics?

Pursuing a degree in statistics will give you a foundation in key topics in mathematics and data analytics, such as data mining, parametric estimation, predictive modeling, and probability factors: the skills needed to simplify complex data sets into practical insights. Most statistics courses also include subjects that develop soft skills such as communication, teamwork, and problem-solving to prepare you for your future career.

According to the U.S. Bureau of Labor Statistics, the demand for statisticians is expected to increase by 30% as of 2032, which is much faster than the industry average. With more businesses and organizations shifting to data-driven business models, there are new opportunities opening for statisticians around the world across multiple industries including finance, health care, and research and development. By developing the mathematical and analytical skills you need to pursue groundbreaking research, a degree in statistics prepares you for high-paying career opportunities with top global employers.

Types of Specializations for Statistics Majors

From developing new medicines in the pharmaceutical industry to assisting government policymaking, students with a degree in statistics can pursue diverse opportunities. Statistics courses also offer a variety of specializations that can prepare you for different roles across multiple industries. Depending on your academic interests, you can choose a program that can give you the in-depth analytical and STEM knowledge and practical experience needed to excel in your career. 

Here are several high-demand statistics specializations you can consider.

Actuarial Science

Designed to teach students how to handle financial risk management for individuals, businesses, and government organizations, actuarial science specializations offer industry-focused training in advanced mathematics, financial planning, predictive analysis, and risk management. Students can look forward to learning the mathematical and problem-solving skills needed to succeed in roles such as an actuary, auditor, financial planner, investment analyst, and risk analyst.

Business Analytics

A specialization in business analytics focuses on using mathematical analysis and data mining methods to provide insights and recommendations to solve business problems. Business analytics programs prepare you for practical data evaluation and decision-making through tailored courses such as analytical decision modeling, behavioral economics, game theory, and predictive analytics. With a major in business analytics, students can consider job roles in business analysis, consultancy, market research, and quantitative analysis.

Data Science

A data science specialization is designed to give you the technical skills to review data trends that can impact business decisions. Students can look forward to learning subjects such as data analytics, data collection and management, and descriptive statistics, while gaining hands-on learning experiences. With a data science specialization, students can support organizations with making calculated business decisions by working in job roles including applications architect, data analyst, data engineer, and risk management analyst.

Financial Analysis and Risk Management

A specialization in financial analysis and risk management equips you with mathematical and analytical skills that can help you use business data and information to make valuations, assess credit risks, and make informed management and investment decisions. Courses in financial analysis and risk management include subjects such as descriptive statistics, financial statement analysis, organizational management, and risk management. With a major in financial analysis and risk management, you can explore job roles such as a financial analyst, investment strategist, risk analyst, risk manager, and more.

Market Research and Consumer Analytics

Specializing in market research and consumer analytics equips you with skills needed to assess industry trends and forecast sales of products and services. By enrolling in specialized courses such as applied buyer behavior, database marketing, marketing research, and pricing strategy, you’ll gain specialized skills to qualify you for lucrative careers as a marketing research analyst at advertising agencies, management consultancies, and other data-driven organizations.

Software Engineering

Specializing in software engineering provides the arithmetical knowledge and skills needed to support the development of computer applications, network systems, and software programs. Statistics courses in computer science departments can teach you how to use models to create application maps, develop and test programs, and provide recommendations for system upgrades. By taking courses such as data structures, engineering probability, and mathematical models, you can prepare for high-demand job roles as an applications analyst, cyber security analyst, information systems manager, systems analyst, and more.

Many careers in statistics require advanced skills in computer science, mathematics, and data analytics. Participating in interactive classroom sessions, collaborating on research projects, and joining industry networking events during your degree can help you gain key analytical knowledge needed to work toward your career goals. 

Let’s take a look at statistics programs offered at Shorelight universities.

Shorelight Universities Offering Statistics Courses

A degree in statistics can prepare you for a wide variety of careers across multiple fields. Shorelight universities offer well-rounded degree programs that combine hands-on experience with interactive classroom sessions to prepare you for success in these roles. 

Heriot-Watt University

Ranked #235 in the list of QS Top Universities, Heriot-Watt University, Edinburgh offers top-ranked degree programs in statistics. Students can choose to major in the bachelor of science program in mathematics and statistics, statistical data science, or mathematical, statistical, and actuarial science and a diploma in industrial training. These programs are also offered at Heriot-Watt University campuses in Malaysia and Dubai, and give students a unique opportunity to enroll in a year-long work placement in their fourth year to gain real-life work experience before graduation.

University at Buffalo

Ranked #76 among national universities by U.S. News & World Report, the University at Buffalo in New York offers a bachelor in statistics degree through the Department of Biostatistics. Designed to prepare students for a career in applied statistics, its curriculum features real-world experience working with data sets, forecasting business trends, and evaluating the use of data in public and private organizations. Students can also take foundational courses in calculus, probability theory, and regression analysis to graduate with a minor in statistics. 

University of Wyoming

The University of Wyoming offers both bachelor of arts (BA) and bachelor of science (BS) degree options in statistics, where students are required to complete specialized mathematics and statistics courses alongside general education curriculum. The Quickstart (“4+1”) master of science (MS) program in statistics also gives students the opportunity to take graduate-level courses during their senior year as an undergrad, and obtain an MS degree within a year of earning their bachelor’s degree. The Department of Mathematics and Statistics at the University of Wyoming offers a master’s in applied statistics and a PhD in mathematics, with options for students to follow a graduate assistantship program and work while studying.

A Shorelight advisor can help you choose a statistics degree that aligns with your academic and career objectives. By working with your counselor, you can identify ways to build in-demand skills and experiences as you explore the different career options available for those with a degree in statistics.

Career Pathways with a Statistics Degree

With the rapid growth of data science and artificial intelligence across all industries, there are increasingly more job opportunities opening in data analytics and statistics. According to the U.S. Bureau of Labor Statistics, the rising popularity of data science will create around 11.5 million job openings by 2026. 

Let’s take a closer look at job roles you can consider as a statistics major:

• Actuary — If you enjoy assessing and managing financial investments such as insurance policies and high-risk business ventures, a career as an actuary might be a good fit for you. In this role, you can use your mathematical knowledge and numerical evaluations to oversee business finances and help your clients minimize risks.

• Data analyst — Data analysts extract data insights from a wide range of information sources to make well-informed business decisions. You will have the chance to work with different data collection tools and platforms, manage data systems, and build predictive models to assess business performance.

• Economist — As an economist, you can expect to research the economic outlooks in countries around the world and predict future trends by using mathematical models and statistical techniques. Economists also use their understanding of data to publish their findings in academic journals and provide expert advice to government institutions.

• Financial analyst — Financial analysts are responsible for a variety of research tasks that support organizations with making investment decisions. Their roles are data-intensive and require advanced skills in mathematics, along with strong analytical and critical thinking skills.

• Market research analyst — Organizations rely on market research analysts to conduct primary and secondary research to identify current market trends and forecast the success of their marketing campaigns and overall promotional strategies. A market research analyst requires strong skills in research, analysis, communication, and most importantly, statistics.

Here are several earnings estimates for professional roles using statistics in the US, India, China, and Brazil.

Source: Payscale, 2023

A degree in statistics can prepare you for multiple career opportunities across diverse industries, including banking, business, finance, health care, and more. By taking courses in applied mathematics and data analytics, you can expand your knowledge in the field and conduct research across a variety of industries or apply for diverse job roles at companies around the world. 

Shorelight advisors are ready to support you as you work toward your academic and professional goals, helping you identify the best-fit schools that align with your learning objectives and providing one-on-one guidance from before you send in your university application all the way to graduation. Reach out to a Shorelight advisor today to explore your options for a degree in statistics and prepare for your future career!

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