Masters degrees in Applied Statistics focus on the application of statistical techniques to functional areas and their related industries, for example economics.
Related postgraduate specialisms include Statistics and Applied Probability, and Environmental Statistics. Entry requirements typically include an appropriate undergraduate degree in a relevant undergraduate degree in a Mathematics-related discipline.
Statistics may be applied to and used across a broad range of industries and professional practices.
For example, Applied Statistics is very predominant in industries to do with the health sciences. You might utilise bioinformatics to predict uses for drugs and other medicines, or help to model and design wearable healthcare technology.
Applied Statistics can also be used in the field of operational research. This includes creating mathematical models and algorithms to help optimise profits, assess line performance, and calculate future transaction costs (related to financial forecasting).
Similarly, Applied Statistics may be used to assess patterns on a broader scale across all economic practices, allowing professionals to investigate financial or operational problems within different sectors and predict repeated issues.