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I am doing BSc statistics from Delhi University.And also thinking for doing engineering next year.As I dont have future knowledge and scope about Statistics.Please suggest me tha scope and profit in Statistics.As I dont want to be an acturier
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Dear Aspirant,
I do not find any value in doing Engineering after getting a graduate degree in Statistics.
I would suggest you to do Masters in Statistics as well for a long term fantastic career.
For becoming an Actuary, apart from Statistics, you also need excellent command over Mathematics. you can definitely look for being an Actuary since this profession is high demanding but there is no supply of Actuaries in India.
Best wishes!
Hi There,
Looks like you are unsure where you wish to head towards in future.
Firstly as dr, has said there is no relation between doing statistics and engineering and I do not understand that after being a Graduate, why are you aiming for another Graduation that too in a not so related field.
It would be best, if you could continue further with statistics only.
As you are studying Statistics who better than you would know, what Statistics is all about.In laymans term it is basically an estimation or a count given to a certain group.
Statistics as such has use in various fields in the following areas:
Planning is necessary for efficient workmanship and in formulating future policies. Statistics provides the valued interpretation of facts and figures relevant to planning. Planning depends on forecasting the future. Statistics provides the necessary tools of estimation and forecasting. So statistics is indispensable in planning.
A businessman formulates different plans and policies using statistics. It helps him in forecasting the future trends and tendencies. To estimate the market fluctuations, changes in the demand conditions etc. statistical techniques are often used.
Statistical data and their analysis are used to solve a variety of economic problems such as in consumption, production, distribution of income and assets, poverty, unemployment etc. These problems are described, compared and correlated by using statistics. Use of statistics in Economics has led to the formulation of many economic laws like Engel's law of consumption, Pareto's Laws of distribution of income etc.
It is being widely used formulating and forecasting different plans and policies of the state administration.
One cannot think of undertaking any research activities without using statistics. Primarily, statistical techniques are used for collecting information in any research. Besides, statistical methods are used for analysis and interpretation of research findings.
Thus there is hardly any branch of study where statistics is not being used. It is used in all spheres of human activities, whether private or public sector.
Hope this answers your query.
Wish you good luck.................
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