Ivy Jun 02, 2016 No Comments
Did you know People use Analytics daily for
But ever wondered how much Analytics or Statistics have we been exposed to in our high school or even during our graduation?
Excerpts from an article on Analytics you would find interesting –
“For those who call themselves analysts, in any field, statistics is not a nice-to-have but a need-to-have.
–Forensic analysts use statistics to find causational evidence rather than circumstantial evidence.
–Financial analysts use statistics to balance risk probabilities associated with reward probabilities.
–Medical research analysts use statistics to determine incremental benefits of new treatments over existing therapies.
–Taxation analysts use statistics to determine the likelihood of tax filing errors and the probability of recovering outstanding liabilities.
–Marketing analysts use statistics to determine the perceptions of customers as compared to the realities of the market.
–Weather analysts, economic analysts, epidemiological analysts, sociological analysts, supply chain analysts, information technology analysts, and the countless number of other types of analysts rely on statistics to do their jobs. Without firsthand knowledge of statistics, these analysts can do the mechanics if their respective jobs but then require statistics be built into their tools of trade, or each can instead be exceptional at their analytics jobs with a mastery of statistics.
As analysts, we transform data and interpret results. Without a thorough understanding of statistical inference and significance, we risk drawing conclusions on observations more akin to correlation than causation.”
Statistics forms the core of any data science learning be it for the job role of a Business Analyst, Big data Expert or a Machine Learning Expert.
If you are not graduating with a major in Statistics or economics, chances are, we don’t know much beyond the mean-median- mode of Statistics. At least most people don’t remember more than that (even though it may have been part of their curriculum). This sorry state of affairs spreads across courses like engineering, commerce and science.
The questions that we all should ask is – when Analytics forms such a key part of our life why not introduce it early enough for it to get ingrained in our system?
We have taken this very seriously! Ivy professional School has partnered with Maharishi University of Information Technology to introduce “School of Data Science” which introduces the undergraduate degree in Analytics in Noida, NCR.
At Ivy our Business Analytics course curriculum focuses on understanding and applying core statistical techniques like t tests, significance, and logical regression.
Team Ivy
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