{"id":5816,"date":"2023-07-09T09:19:52","date_gmt":"2023-07-09T03:19:52","guid":{"rendered":"https:\/\/www.isrt.ac.bd\/?page_id=5816"},"modified":"2023-08-16T21:28:19","modified_gmt":"2023-08-16T15:28:19","slug":"why","status":"publish","type":"page","link":"https:\/\/isrt.ac.bd\/academics\/why\/","title":{"rendered":"About Applied Statistics and Data Science"},"content":{"rendered":"<p>The B.S. (honors) degree in Applied Statistics and Data Science produces graduates with a strong foundation in statistical methods and their applications.\u00a0 It provides a solid base for pursuing successful careers in academia and industry while opening doors to higher education and advanced research. A significant development in the syllabus of the B.S. (honors) in Applied Statistics and Data Science program for session 2022-2023 is the inclusion of a wide range of courses focused on data science. Among the prominent courses that will be offered under the data science umbrella are \u201cIntroduction to Applied Statistics and Data Science,\u201d \u201cSQL for Data Science,\u201d \u201cR for Data Science,\u201d \u201cPython for Data Science,\u201d and \u201cStatistical Machine Learning.\u201d The inclusion of these courses reflects the growing importance and demand for data-driven skills in today\u2019s rapidly evolving job market.<\/p>\n<p>There are several reasons why a student should consider pursuing undergraduate, graduate degrees in Applied Statistics and Data Science. Here are some key points:<\/p>\n<ul>\n<li><strong>Provides a s<\/strong><strong>trong <\/strong><strong>f<\/strong><strong>oundation in <\/strong><strong>s<\/strong><strong>tatistical <\/strong><strong>c<\/strong><strong>oncepts and applications<\/strong>: An undergraduate degree in applied statistics provides a comprehensive understanding of statistical concepts and methodologies. Students learn about probability theory, statistical inference, regression analysis, experimental design, and other fundamental statistical techniques. This strong foundation equips students with the necessary tools to analyze and interpret data accurately, which is valuable in a wide range of industries and fields.<\/li>\n<li><strong style=\"font-size: 1rem;\">Acquiring a v<\/strong><strong style=\"font-size: 1rem;\">ersatile <\/strong><strong style=\"font-size: 1rem;\">s<\/strong><strong style=\"font-size: 1rem;\">kill <\/strong><strong style=\"font-size: 1rem;\">s<\/strong><strong style=\"font-size: 1rem;\">et<\/strong><span style=\"font-size: 1rem;\">: Graduates of applied statistics possess a versatile skill set that is highly sought after in today&#8217;s data-driven world. They acquire expertise in statistical modeling, data analysis, and statistical programming languages. These skills make them well-equipped to handle and extract insights from complex datasets, perform predictive modeling, and solve real-world problems using quantitative methods.<\/span><\/li>\n<li><strong style=\"font-size: 1rem;\">High <\/strong><strong style=\"font-size: 1rem;\">d<\/strong><strong style=\"font-size: 1rem;\">emand for <\/strong><strong style=\"font-size: 1rem;\">d<\/strong><strong style=\"font-size: 1rem;\">ata <\/strong><strong style=\"font-size: 1rem;\">a<\/strong><strong style=\"font-size: 1rem;\">nalysts<\/strong><span style=\"font-size: 1rem;\">: With the exponential growth of data in every industry, there is a high demand for professionals who can make sense of this data. Graduates of applied statistics are well-positioned to pursue careers as data analysts, data scientists, or statisticians.\u00a0 These roles involve analyzing large datasets, identifying trends, building predictive models, and providing data-driven insights to drive decision-making. The demand for skilled data analysts is expected to continue to rise in the coming years.<\/span><\/li>\n<li><strong style=\"font-size: 1rem;\">Lucrative <\/strong><strong style=\"font-size: 1rem;\">c<\/strong><strong style=\"font-size: 1rem;\">areer <\/strong><strong style=\"font-size: 1rem;\">o<\/strong><strong style=\"font-size: 1rem;\">pportunities<\/strong><span style=\"font-size: 1rem;\">: The field of applied statistics offers a wide range of lucrative career opportunities. Graduates can find employment in various sectors, including finance, healthcare, technology, market research, government agencies, and consulting firms. These industries rely heavily on data analysis and statistical modeling to make informed decisions, improve processes, and drive innovation. With strong connections to the field of data science, graduates of the B.S. (Hons) program in Applied Statistics compete for jobs in the data science industry and often enjoy competitive salaries.<\/span><\/li>\n<li><strong style=\"font-size: 1rem;\">Scope for i<\/strong><strong style=\"font-size: 1rem;\">nterdisciplinary <\/strong><strong style=\"font-size: 1rem;\">c<\/strong><strong style=\"font-size: 1rem;\">ollaboration<\/strong><span style=\"font-size: 1rem;\">: Applied statistics is an interdisciplinary field that often collaborates with other domains such as computer science, economics, biology, and social sciences. As a graduate in applied statistics, you will have the opportunity to work on diverse projects and collaborate with professionals from different backgrounds. This interdisciplinary exposure broadens your knowledge and skills, enhances your problem-solving abilities, and opens doors to exciting research and innovation opportunities.<\/span><\/li>\n<li><strong style=\"font-size: 1rem;\">Contributi<\/strong><strong style=\"font-size: 1rem;\">on<\/strong><strong style=\"font-size: 1rem;\"> to <\/strong><strong style=\"font-size: 1rem;\">e<\/strong><strong style=\"font-size: 1rem;\">vidence-<\/strong><strong style=\"font-size: 1rem;\">b<\/strong><strong style=\"font-size: 1rem;\">ased <\/strong><strong style=\"font-size: 1rem;\">d<\/strong><strong style=\"font-size: 1rem;\">ecision-<\/strong><strong style=\"font-size: 1rem;\">m<\/strong><strong style=\"font-size: 1rem;\">aking<\/strong><span style=\"font-size: 1rem;\">: Graduates in applied statistics play a crucial role in evidence-based decision-making. By analyzing data and providing statistical insights, they contribute to informed policy decisions, business strategies, and research initiatives. Being able to make data-driven decisions is increasingly important in a world where decisions are often complex and have significant consequences. Applied statisticians have the ability to extract meaningful information from data and present it in a way that supports decision-making processes.<\/span><\/li>\n<li><strong style=\"font-size: 1rem;\">Opportunity for higher<\/strong> <strong style=\"font-size: 1rem;\">e<\/strong><strong style=\"font-size: 1rem;\">ducation and advanced <\/strong><strong style=\"font-size: 1rem;\">r<\/strong><strong style=\"font-size: 1rem;\">esearch<\/strong><span style=\"font-size: 1rem;\">: Pursuing a degree in applied statistics also lays the foundation for further education and research. Graduates can pursue advanced degrees such as master&#8217;s or doctoral programs in statistics or related fields. These advanced degrees provide opportunities for specialized study, conducting research, and contributing to the advancement of statistical theory and applications.<\/span><\/li>\n<li><strong>High Demand and Job Opportunities<\/strong>: Applied Statistics and Data Science professionals are in high demand across various industries. As businesses increasingly rely on data-driven decision-making, the need for skilled data scientists who can extract insights and solve complex problems from large datasets continues to grow. This demand translates into abundant job opportunities and a promising career outlook.<\/li>\n<li><strong>Lucrative Salaries<\/strong>: Applied Statistics and Data Science is renowned for offering competitive salaries. The combination of high demand and a scarcity of skilled professionals often leads to generous remuneration packages for data scientists. This financial reward makes Data Science an appealing field for those seeking a financially rewarding career.<\/li>\n<li><strong>Versatility and Application<\/strong>: Applied Statistics and Data Science find applications in diverse domains such as healthcare, finance, marketing, e-commerce, cybersecurity, and more. With its widespread use, Data Science professionals have the opportunity to work in various industries and contribute to solving real-world challenges.<\/li>\n<li><strong>Driving Innovation<\/strong>:\u00a0Applied Statistics and Data Science are at the forefront of technological innovation. As a data scientist, you get to work with cutting-edge technologies, algorithms, and tools to analyze and interpret data. The field provides opportunities to contribute to groundbreaking advancements and transformative solutions.<\/li>\n<li><strong>Problem-Solving Skills<\/strong>:\u00a0Applied Statistics and Data Science involve identifying patterns, trends, and insights from complex data sets. This process enhances your analytical and problem-solving skills, allowing you to tackle intricate business problems and make informed decisions.<\/li>\n<li><strong>Interdisciplinary Nature<\/strong>: Data Science brings together knowledge from various disciplines, including statistics, computer science, mathematics, and domain-specific expertise. As a result, studying Data Science allows you to build a diverse skill set and collaborate with professionals from different backgrounds.<\/li>\n<li><strong>Impactful Contributions<\/strong>:\u00a0Applied Statistics and Data Science has a significant impact on society, from improving healthcare outcomes to optimizing supply chains and enhancing customer experiences. Being a part of a field that positively influences people&#8217;s lives can be immensely fulfilling.<\/li>\n<li><strong>Continuous Learning and Development<\/strong>: Data Science is a dynamic field, and continuous learning is essential to stay updated with the latest tools and techniques. This aspect ensures that your professional growth remains continuous, allowing you to explore new areas and remain intellectually engaged.<\/li>\n<li><strong>Opportunity for Entrepreneurship<\/strong>: Data Science offers a fertile ground for entrepreneurship. Armed with data-driven insights and knowledge, data scientists can identify market gaps and create innovative solutions, leading to entrepreneurial ventures and startups.<\/li>\n<li><strong>Global Relevance<\/strong>: Data Science is a globally relevant field, making your skills and expertise valuable not just within your country but also internationally. This opens up the possibility of working on projects with teams from around the world and embracing diverse cultural experiences.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h4><strong>Connection between Applied Statistics and Data Science<\/strong><\/h4>\n<p>&nbsp;<\/p>\n<p>Applied Statistics and Data Science are interconnected disciplines. Applied statistics provides the theoretical framework, methodologies, and statistical techniques that form the basis for data science. Data science, on the other hand, applies these statistical methods, models, and tools to analyze large and complex datasets, extract insights, build predictive models, and make data-driven decisions. The synergy between applied statistics and data science enables the effective exploration, analysis, and interpretation of data to solve real-world problems and drive innovation in various fields.<\/p>\n<p>Applied statistics provides the foundation for many of the techniques and methodologies used in data science. Let&#8217;s explore the connection in more detail:<\/p>\n<ul>\n<li><strong>Data Collection and Sampling<\/strong>: In applied statistics, principles of sampling and experimental design are used to collect representative data. Data science relies on these statistical techniques to ensure the data collected is unbiased and representative of the population of interest. Without proper data collection and sampling methods, the conclusions drawn from data analysis may be flawed.<\/li>\n<li><strong>Exploratory Data Analysis (EDA)<\/strong>: EDA is an essential step in both applied statistics and data science. In applied statistics, EDA helps to understand the structure and characteristics of the data, identify outliers, and assess the assumptions of statistical models. Data science leverages EDA techniques to gain insights, visualize data patterns, and identify potential relationships and variables that are important for building predictive models.<\/li>\n<li><strong>Statistical Modeling and Inference<\/strong>: Applied statistics focuses on developing and applying statistical models to make inferences and draw conclusions from data. This includes techniques such as regression analysis, hypothesis testing, analysis of variance (ANOVA), and time series analysis. Data science utilizes these statistical modeling techniques as building blocks for predictive analytics, machine learning, and artificial intelligence algorithms. By applying these models, data scientists can make predictions, classify data, cluster similar instances, and uncover hidden patterns and insights from large datasets.<\/li>\n<li><strong>Experimental Design and A\/B Testing<\/strong>: Applied statistics provides principles and methodologies for experimental design and A\/B testing. These techniques are used to evaluate the impact of interventions, treatments, or changes in a controlled environment. Data science employs experimental design and A\/B testing to measure the effectiveness of different features, algorithms, or user interfaces in real-world scenarios. It helps data scientists make data-driven decisions and optimize processes by comparing different options and identifying statistically significant differences.<\/li>\n<li><strong>Statistical Programming and Software<\/strong>: Both applied statistics and data science heavily rely on statistical programming languages and software tools. Languages like R and Python, along with libraries such as NumPy, pandas, and scikit-learn, are extensively used for statistical analysis, modeling, and visualization. These programming languages provide a common platform for statisticians and data scientists to implement statistical techniques, handle large datasets, and communicate results effectively.<\/li>\n<li><strong>Data Visualization<\/strong>: Applied statistics emphasizes the importance of visualizing data to uncover patterns, trends, and relationships. Data science also recognizes the significance of data visualization in communicating insights and findings effectively. Both fields employ various graphical techniques, such as histograms, scatter plots, box plots, and heatmaps, to represent data visually and facilitate better understanding and interpretation.<\/li>\n<li><strong>Statistical Inference and Decision-Making<\/strong>: Applied statistics helps in making informed decisions based on data analysis and statistical inference. It provides methods for estimating parameters, testing hypotheses, and quantifying uncertainty. Data science leverages these statistical inference techniques to evaluate the performance of models, assess prediction accuracy, and provide insights for decision-making in various domains, such as business, healthcare, finance, and marketing.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The B.S. (honors) degree in Applied Statistics and Data Science produces graduates with a strong foundation in statistical methods and their applications.\u00a0 It provides a solid base for pursuing successful &#8230; <a class=\"\" href=\"https:\/\/isrt.ac.bd\/academics\/why\/\">[ Read More ]<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"parent":12,"menu_order":4,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-5816","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/isrt.ac.bd\/wp-json\/wp\/v2\/pages\/5816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/isrt.ac.bd\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/isrt.ac.bd\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/isrt.ac.bd\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/isrt.ac.bd\/wp-json\/wp\/v2\/comments?post=5816"}],"version-history":[{"count":6,"href":"https:\/\/isrt.ac.bd\/wp-json\/wp\/v2\/pages\/5816\/revisions"}],"predecessor-version":[{"id":5973,"href":"https:\/\/isrt.ac.bd\/wp-json\/wp\/v2\/pages\/5816\/revisions\/5973"}],"up":[{"embeddable":true,"href":"https:\/\/isrt.ac.bd\/wp-json\/wp\/v2\/pages\/12"}],"wp:attachment":[{"href":"https:\/\/isrt.ac.bd\/wp-json\/wp\/v2\/media?parent=5816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}