What is statistics?

The world around us is full of uncertainty. To help us understand it better, we compile huge quantities of data. The science of statistics involves separating the information from the background noise.

With the advent of new technologies, the sources of data are becoming increasingly complex. Statisticians use sophisticated analytical methods in building forecast models to deal with concrete situations, e.g.:

  • loans to individuals, according to their repayment history
  • the type of marketing promotion to be used, according to clients’ behaviour
  • analysis of teens’ behaviour, according to data from government organizations

In the opinion of many economists, statistics is a very promising career, with plenty of positions to be filled.