Illinois Online Masters in Statistics Degrees and Graduate Programs
Learn about Online Masters in Statistics Degree Programs
You love math and science, are driven by data and analysis. You rise to the challenge and mastery of learning and performing complex calculations. You enjoy collecting, organizing, analyzing and interpreting information. You dream of creating a survey that will predict important outcomes. If you are presently nodding in agreement, then pursuing an online Masters in Statistics Degree might be a great academic fit for you.
In this increasingly digital age, statistics and information gathering can be used to influence major decisions in a variety of sectors. Think broad spectrum, such as politics, pharmaceuticals, advertising, medicine, marketing, finance, education and business.
Skill-sets: you could acquire by earning an online Statistics Masters Degree may be valuable as you pursue a career. You might learn to tell stories based on the data, and in doing so, become a voice for interpreting information and taking action. Some of the important qualities of a Market Research Analyst include[i]:
- Analytical skills that allow them to understand large amounts of data and information
- Communication skills that are required when gathering information, interpreting data, and then presenting their findings to clients
- Critical thinking skills to assess information and determine potential strategies for their clients
- Attention to detail as data is precise
Tip: Check through the different Masters programs on GradSchools.com to see if you are drawn to certain concentrations within the field. For instance, you can find Masters Degree programs that focus on data analytics, cyber systems, computational science, statistics, or mathematics.
KEY POINTS TO CONSIDER about a pursuing a statistics Masters degree:
- The study of statistics can be thought of as an offshoot of the mathematical field of probability. If you are
- looking into masters programs in statistics, you already have a strong foundation in mathematics.
- Studying statistics may involve some potential overlap studies in other social sciences, such as economics, accounting, sociology and finance.
- Pursuing your Masters degree may open different potential career opportunities for you that differ from those you could be qualified for with a Bachelors Degree[i]. For example, some market research analysts complete MBAs which may be helpful for those interested in pursuing potential leadership roles.
- With your master’s degree you might choose to pursue potential career opportunities in industries such as investment banking, economics or insurance.
Why study for your Masters in Statistics & Data Analysis Online?
One reason might be flexibility. This is a convenient format, which might help you balance work, study, and family. Think of having no commute time! You love data, so likely have a computer and Internet access. This means you might conveniently schedule study around your timetable. Also, the latest digital tools mean that you are not isolated from your fellow students and professors despite studying off-site. There are often group projects, opportunities to enter group forums, and chances to connect with classmates and professors via email. Online Statistics & Analytics Master Degree programs are often taught be the same faculty as on-site courses, and often, with the same coursework.
Master in Statistics & Data Analysis Curriculum
It is wise to keep in mind that each program and school may interpret the Degree differently, although there may be similarities in terms of subject matter. The curriculum may involve a combination of seminar courses on advances statistics topics as well as independent courses. Some of the topics that could be included in your curriculum are:
- Applied regression
- Cyber Systems and Security
- Variance analysis
- Analysis of time series
- Data Management and Data mining
- Predictive analytics
- Statistical Consulting
Potential Career Paths For Graduates With Masters In Statistics & Data Analytics Degrees
Some of the potential career possibilities for Graduates with a Masters Degree in Statistics & Data Analytics include such careers as:
- Statistician: use statistical methods to collect and analyze data and help solve real-world problems in business, engineering, the sciences, or other fields[ii].
- Financial Analyst: provide guidance to businesses and individuals making investments and assess the performance of stocks, bonds, and other types of investments[iii].
- Database Administrator (DBA): use specialized software to store and organize data, such as financial information and customer shipping records, and ensure that data are available to users and secure from unauthorized access[iv].
- Risk /Financial Manager: are responsible for the financial health of an organization, produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization[v].
- Market Research Analysts: study market conditions to examine potential sales of a product or service. They also assist businesses to understand what products people want, who will buy them, and at what price[vi].
Ready to search for Online Masters in Statistics Degree Programs?
Are you excited to learn how new sources of data can be analyzed to enhance organizational effectiveness, customer service, investments and business strategies? Are you looking for a Master’s Program that might help enhance your ability to develop the strategic, project-management and communication skills that power many industries? If so, an online Masters in Statistics & Data Analytics could be a great fit to help you pursue your vocational and academic goals. Start looking into options on GradSchools.com soon!
Sources: [i] bls.gov/ooh/business-and-financial/market-research-analysts.htm#tab-4 | [ii] bls.gov/ooh/math/statisticians.htm | [iii] bls.gov/ooh/business-and-financial/financial-analysts.htm | [iv] bls.gov/ooh/computer-and-information-technology/database-administrators.htm | [v] bls.gov/ooh/management/financial-managers.htm | [vi] bls.gov/ooh/business-and-financial/market-research-analysts.htm
Colorado Technical University
Northwestern University School of Continuing Studies
Northwestern's Master of Science in Predictive Analytics (MSPA) enhances students' capability for data-driven decision making.
Big data is in big demand. According to a report from McKinsey & Company, in 2011, it was estimated that there will be a shortage of 140,000 to 190,000 people with analytical skills as well as 1.5 million managers and analysts with the know-how to use t...