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Statistics is a branch of mathematics, which helps us to derive sense from a bunch of data. It is concerned with the collection, analysis and interpretation of data using theories of mathematics and computational tools.The inferences from this analysis helps us to arrive at a pertinent conclusion. The word ‘Statistics’ is believed to have been derived from a number of sources, such as the Latin word statisticum collegiumwhich translates to mean a council of state, the Italian word statista meaning a politician and the German Book Statistik. In terms of origin, this discipline is not a modern branch of study but has been there for centuries. The use of statistical concepts has been in use as far as the 5th Century BC. Ancient rulers used the concepts of statistics to gather data about population and statecraft to make better decisions.
The definition of Statistics has undergone many changes with time. The earliest definition restricted its field to only counting and averages. However, as understanding about the dynamic nature of this field grew, the definitions also changed and now it is defined as a versatile branch of scientific study with theories, principles, methods and tools to analyse and interpret a complex set of data. The first mention of statistical analysis and inference, has been held to be in the work of John Graunt, “Natural and Political Observations” in 1662. Though there have been many scientists who have contributed to making this subject, as it is known today, the British scientist Sir Ronald Fisher isconsidered to be the Father of Modern Statistics. The important underlying ideas in Statistics are probability and variance. Probability is the uncertainty of an event or data and variation refers to the scope of dispersion in a given set of data.
Methods of Statistical analysis refer to the various ways in which statistical measurement is achieved. The following are the main methods used:
Statistics have emerged to be an important field of study and discipline in recent years. The use of statistics in almost all areas of life has increased its importance. Statistics is not only used in areas of research and science but also finds application in practical life as well. Statistics is used in the areas of administration, management and decision taking. Statistical analysis are used by governments to make informed decisions and affect their policy making. The policies affect us all and therefore it is necessary that statistical analysis is done correctly. The scope of statistics is ever increasing and is not only restricted to the following fields:
The ever-increasing scope of Statistics has made it an attractive career option for many. There is an increasing need for experts in this field. One of the basic career choices in this field is that in academics. Students can pursue a higher degree and then choose to become a professor, teaching the subject in various colleges and universities. Professors in this field are very much in demand. The other option is that of a Data Scientist. As a Data scientist, one can find many opportunities in the field of analytics, business, law, researches etc. A number of reputable companies from many fields are constantly recruiting statistics majors and Ph.D holders.
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