10 Career Options in Statistics after Class 12th PCM

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The majority of PCM students drift towards engineering after completing their 12th. As they may believe that engineering is the only career option after PCM. But there are some students, who desire to pursue their career in Statistics after doing their class 12th in PCM. So here you will find the 10 most promising career options in statistics. Statistics is a field related to gathering, analysis, interpretation, and presentation of numerical data. This field is meant for those who have a penchant for numbers and data. Here are all about the 10 career options in statistics after class 12th pcm.

10 Career Options in Statistics after Class 12th PCM

As a course in Mathematics is concerned with only theories and principles. But Statistics is a course where you apply those theories and principles in practice to analyze trends and do predictions. Statisticians use their knowledge of Statistics and Maths to make data models for providing solutions to big data-related problems. know more about Career Counselling For Class 11 & 12 Students .

Due to this, experts in Statistics can apply their skills in any field requiring data analysis. If you have strong quantitative reasoning, good analytical abilities, and also love to crunch numbers, then this field is for you.

Career Opportunities In Statistics

Now moving towards the top 10 career options available in Statistics for the students who have done their class 12th in PCM. As a matter of fact, statisticians find employment in fields including mathematics, banking, business analysis, actuarial science, healthcare, data science, agriculture, and others. Additionally, a statistics graduate can anticipate working as a biostatistician, risk analyst, econometrician, data analyst, financial analyst, etc. As a result, there are numerous career options for statistics graduates.They can easily choose any career option according to their interests. So, let’s grab more about the top 10 career options in Statistics.

Career in Banking

The foremost career option in Statistics is to be a Banker. Today, Banking is a career that offers opportunities to students of every stream. Therefore, selecting banking as a career is a good option for job security and high salary packages. You just need basic communication and technical skills to be a banker.

  • Investment banker :-Investment bankers assist businesses in raising capital by helping them issue stocks or bonds. They also offer businesses merger and acquisition advice.
  • Financial analyst :- Financial analysts assess financial investments, including mutual funds, equities, and bonds. They also support financial decisions made by businesses.
  • Loan officer :- Loan officers assist both individuals and corporations in obtaining finance. They set the loan’s terms and evaluate the borrower’s creditworthiness.
  • Bank teller :- The task of handling customer transactions, such as transfers, withdrawals, and deposits, falls to bank tellers. Additionally, they offer client service.
  • Officer of compliance :- Compliance officers make ensuring that banks abide by all relevant rules and regulations. They also look into possible infractions and implement remedies.
  • Risk manager :- Risk managers locate and evaluate the threats to banks. They create and put into action methods to lessen these risks.

Career In Actuarial Science

This career option can dominate the other career options of different fields. This career opportunity has been on the top in recent years. The main responsibility of an Actuarial is to evaluate the financial risk for helping their clients in managing their finances. They can do jobs as an Actuarial Scientist in the banking, healthcare, and investment sector. The primary role is to manage clients which need strong communication skills.

  • Life insurance :- Actuaries collaborate with life insurance providers to design and calculate the cost of life insurance plans. They also work on initiatives involving annuities, retirement planning, and other financial goods.
  • Property and casualty insurance :- Actuaries collaborate with property and casualty insurance providers to create and price insurance plans that cover things like business interruption, property damage, and auto accidents. They also focus on initiatives for loss avoidance and risk management.
  • Health insurance :- Actuaries collaborate with health insurance providers to design and calculate the cost of health insurance plans. Additionally, they are involved in tasks involving medical underwriting, claims handling, and healthcare economics.
  • Financial services :- Actuaries collaborate with financial services firms to design and calculate the costs of financial products like mutual funds, annuities, and retirement plans. They also work on projects involving portfolio management, risk management, and investment analysis.
  • Consulting :- Actuaries provide consulting services to a range of companies and organisations. They offer guidance and knowledge on a range of subjects, such as risk management, insurance costs, and financial planning.

Career As A Risk Analyst

A Risk Analyst interprets the risk management process of the organization. Risk Analysts interpret the data and predict any kind of upcoming risk event. Your primary duty as a risk analyst is to recognise, assess, and establish plans to reduce any risks that a business or organisation may face. Finding hazards that could harm the organization’s finances, operations, or strategy is one way to do this.

The salary for a risk analyst varies depending on the industry, experience, and location. However, the median salary for risk analysts in the United States is $70,000 per year. The job outlook for risk analysts is positive. The Bureau of Labor Statistics projects that employment of financial analysts, including risk analysts, will grow 12% from 2023 to 2030, faster than the average for all occupations. This growth is expected due to the increasing complexity of the financial markets and the need for businesses to manage risk more effectively.

Career As A Business Analyst

A business analyst is the one who analyses the corporate’s processes and systems, evaluates the business model, and incorporates technology. A business analyst’s main responsibility is to evaluate the client through analysing the business requirements. The job of a business analyst is to analyse business processes, spot potential for change, and suggest fixes to boost productivity and effectiveness within an organisation. Business analysts are employed in both the public and commercial sectors and work in a variety of industries.

  • Gathering and analyzing data :- BAs collect and analyze data to understand the current state of the business and identify areas for improvement.
  • Developing business requirements :- BAs work with business users to identify the business requirements for new or improved systems or processes.
  • Designing and developing solutions :- BAs design and develop solutions that meet the business requirements.
  • Testing and implementing solutions :- BAs test and implement solutions to ensure that they meet the business requirements and are working as expected.
  • Communicating with stakeholders :- BAs communicate with stakeholders throughout the project lifecycle to keep them informed of progress and address any concerns.

Career As A Mathematician

Experts in Mathematics can use advanced mathematics to understand mathematical principles deeply, to examine the data. Using a scientific method and their understanding of statistics, mathematicians assist in resolving current issues. A foundation in mathematics can be used in a wide range of vocations. In disciplines like physics, career of engineering, finance, and computer science, mathematicians employ mathematical theory, computational methods, and statistical analysis to address real-world issues.

  • Academic setting :- Mathematicians employed in academic settings often hold a Ph.D. in the subject. They carry out research, instruct graduate and undergraduate students, and then publish their findings in scholarly journals.
  • Industry :- Mathematicians who work in industry put their knowledge to use by resolving issues in a range of disciplines, such as science, engineering, and finance. They might work for for-profit businesses, governmental institutions, or private businesses.
  • Government :- Mathematicians employed by the government put their knowledge to use by creating and carrying out programmes and policies. They might be employed by the federal government, a state, or a municipal government.

Q. What is a mathematician?

A. A mathematician is a professional who uses mathematical principles to solve real-world problems and develop new theories in the field of mathematics.

Q. What are the technical skills required to become a mathematician?

A. Technical skills required to become a mathematician include proficiency in mathematical concepts and techniques, as well as programming languages such as Python and MATLAB.

Q. What are the job responsibilities of a mathematician?

A. The job responsibilities of a mathematician include conducting research, developing mathematical theories and models, applying mathematical principles to solve real-world problems, and communicating findings to stakeholders.

Career As A Biostatistician

Career as a biostatisticians interpret the data and statistics of living organisms by gathering the live samples during medical research studies. They also interpret the design and implement the research process using statistician tools. A biostatistician is a specialist who designs, examines, and interprets data pertaining to biology, health, and medicine using statistical methods. They are employed in a range of places, such as academic research facilities, governmental organisations, pharmaceutical firms, and healthcare facilities. learn more about the Math and Science Career Clarity Service.

  • Strong analytical skills :- Strong analytical abilities are necessary for biostatisticians in order to analyse data and spot patterns and trends.
  • Problem-solving skills :- Biostatisticians need to be able to recognise problems and use statistical methods to solve them.
  • Communication skills :- Communication abilities Both technical and non-technical audiences must be able to understand what biostatisticians are saying.
  • Computer skills :- Computer proficiency is required of biostatisticians when utilising statistical tools.
  • Teamwork skills :- Biostatisticians must be able to function well in a team environment.

The Exam

The biostatistician exam gauges a candidate’s depth of understanding of biostatistics. For certification as a biostatistician, candidates must pass the test, which is given by the American Statistical Association (ASA).

There are two sections to the exam: Part I and Part II. The Part I test consists of multiple-choice questions on the fundamental concepts of biostatistics, including probability, statistics, and data analysis. In the case study portion of the exam, applicants must use their biostatistics expertise to solve actual-world issues.

The Eligibility Requirements

The following prerequisites must be satisfied by applicants in order to be qualified to sit for the biostatistician exam:

  • possess a bachelor’s degree in mathematics, statistics, or a similar discipline possess at least 24 semester hours of math, stats, and cs education
    possess one year of full-time biostatistics employment experience

Career As An Econometrician

Econometricians is the one who analyses the data concerned with supply and demand, employment, inflation, company profits, and other important economic topics. They help the research by creating suitable computer applications for system analysis.

  • Creating economic models :- Econometricians analyse economic data and forecast economic behaviour using statistical models.
  • Forecasting economic trends :- Economic models are used by econometricians to predict economic patterns like inflation, unemployment, and economic growth.
  • Evaluating the impact of economic policies :- Economic models are used by econometricians to assess the effects of economic policies including tax reductions, government expenditures, and trade policies.
  • Advising businesses and governments :- Econometricians provide corporate and government advice on a variety of economic issues, including pricing, regulation, and investment.

Career In Data Science

Data Science is the most chosen career option by statisticians. Data Scientists are the analytical data experts who have the technical skills to solve real-time problems. They also have the interest to explore what problems require to be solved. Data Scientists are also known as Big Data Wranglers. They take huge messy data points and apply their skills in math, statistics, and programming to clean and organize them. After that, they use all their analytical skills such as contextual understanding, industry knowledge, and skepticism of existing assumptions to find the hidden solutions of business related problems.

There is a significant demand for data scientists, and it is expected that this demand will only grow in the future. Data scientists’ employment is expected to grow by 28% between 2023 and 2030, which is much faster than the average for all occupations, according to the Bureau of Labour Statistics. Data science careers can be incredibly fulfilling. Data scientists have the chance to work on innovative initiatives, apply their ingenuity to problem-solving, and have a significant impact on society.

Career As A Data Analyst

Data Analyst analyzes the data and changes it into useful information which helps in the business profits. Data analysts gather information from diverse sources and examine market patterns and trends. An expert tasked with compiling, evaluating, and executing statistical analyses on huge data sets is known as a data analyst. They work in a variety of industries, including as marketing, banking, healthcare, and technology.

  • Data analysts :- Data analysts are in charge of gathering, scrubbing, and analysing data. They apply their knowledge to identify patterns and trends in data and create predictive models.
  • Business Analyst :- Business analysts utilise data to aid organisations in decision-making. They collaborate with stakeholders to comprehend their demands before using data to pinpoint and address issues.
  • Marketing Analyst :- Data is used by marketing analysts to assist companies in marketing their goods and services. They monitor consumer behaviour, spot patterns, and gauge the success of marketing campaigns using data.
  • Financial Analyst :- Data is used by financial analysts to assist organisations in making financial decisions. They use data to monitor financial performance, spot dangers, and decide which investments to make.

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Q. What is a data analyst?

A. A data analyst is a professional who collects, processes, and performs statistical analyses on large sets of data to extract insights, identify patterns, and inform business decisions.

Q. What are the educational qualifications required to become a data analyst?

A. A Bachelor’s degree in mathematics, statistics, computer science, or a related field is typically required to become a data analyst. Some employers may also require a Master’s degree in a related field.

Q. What are the job responsibilities of a data analyst?

A. The job responsibilities of a data analyst include data collection, data cleaning, data analysis, data visualization, and presentation of insights to stakeholders.

Career As A Content Analyst

Content Analyst interprets the content, audits the topics and examines content. A Content Analyst follows the metrics of readership and views to make data-driven decisions. A content analyst is a specialist who is in charge of analysing and rating information on various media channels, including websites, blogs, and news stories. They are employed by a number of sectors, including media, marketing, and advertising.

FAQs About Study Career options in Statistics

Q. What is Statistics?

A. Statistics is the science of collecting, analyzing, and interpreting numerical data.

Q. What are the career options in Statistics?

A. There are several career options in Statistics, including data analyst, statistician, actuary, market research analyst, and operations research analyst, among others.

Q. What is a data analyst?

A. A data analyst is a professional who collects, analyzes, and interprets data to provide insights into business operations and decision-making processes.

Q. What is a statistician?

A. A statistician is a professional who designs and conducts surveys and experiments, analyzes data, and provides insights into trends and patterns.

Ideal Career Test

Ideal Career Test™ is suitable for person of any age group who is interested to discovering the right career options. The test report will help you to identify and explore career in order to get started in career search or change of career, it helps to identify strengths and potential weaknesses for the career search. To plan career goals and action steps.

A thorough evaluation tool called the Ideal Career Test was created to help people choose careers that match their interests, aptitudes, values, and personality qualities. This test seeks to help people make educated judgements about their career choices by offering insightful information about the kinds of jobs and work environments that would be a suitable fit for them.

The test begins by evaluating an individual’s interests and passions. It explores their preferences for various activities, hobbies, and subjects. This assessment helps identify areas that genuinely captivate the individual and can guide them towards career paths that align with their personal interests.

The assessment also evaluates an individual’s skills and aptitudes. It explores their strengths in different areas such as problem-solving, communication, creativity, leadership, and technical abilities. By understanding their skill set, individuals can identify careers that allow them to leverage their natural talents and develop their potential.

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Personality factors have a significant role in the evaluation as well. The test investigates a person’s personality traits, including agreeableness, conscientiousness, emotional stability, openness to new experiences, and extroversion/introversion. People can find employment that suit their temperament and work methods, as well as jobs that offer a supportive atmosphere for personal development and professional satisfaction, by taking into account their personality profile.

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