Generally, master's degree programs in statistics offer specializations in areas like data science but there are a few that focus on either analytics or business analytics. These programs will cover topics that general master of science in statistics programs may not cover.
Courses Included in Statistics Master's Degree Programs That Focus on Analytics
These are some courses that are usually offered in master's degree programs for statistics that are concentrated on analytics.
Regression Methodologies in Statistics
Regression is a part of statistical analysis and students must learn the introductory and advanced elements of the topic. In courses like these, students will typically learn about different methodologies and regression models. These courses will also cover areas related to data point detection and determining correlation.
Aspects of Data Mining
These types of courses are designed to teach students how to obtain and handle data. When enrolled in these courses, students will learn about different kinds of mining as well as the principles behind the technique. Other topics that may be covered include algorithms, the analysis of outliers and identifying patterns.
How Computing is Used in Statistics
Computers are a vital part of the statistical field so students must learn how to use the tool properly. In courses like these, students generally learn about simulation techniques and how to create random variables when required. These courses may also focus on sampling techniques, regression, and validation.
These are the types of courses that aim to teach students an appreciation of the role probability plays in statistics. Students will likely explore subjects such as the types of variables and distributions as well as variable transformation. Other topics that may be covered include sampling theories and estimators.
How to Analyse Data
It follows that once students have acquired data they should learn how to effectively analyze it. With this in mind, courses that focus on data analysis will generally teach students about the different types of techniques used. These courses will also cover topics such as classification, building models, the use of decision trees and how to analyze clusters of data.
General Admission Requirements for Statistics Master's Degree Programs That Focus on Analytics
To be admitted to a master's program for statistics with a concentration in analytics, students will need a bachelor's degree in a related area from an accredited college or university. This degree should have been earned with a minimum GPA of 3.0. Along with school transcripts, applicants may be required to submit letters of recommendation, a current resume, a statement of purpose and passing scores on a GRE test. In some cases, students may also be required to submit essays in addition to their application.
The options for statistics master's degree programs that focus on analytics are limited. However, students can enroll in the few programs that are available as long as they have a bachelor's degree in a related area and meet the other minimum requirements.