Typically, the mention of the word statistics conjures an image of a disheveled old man with glasses labouring tirelessly, crunching numbers and stressing over mind boggling equations. We traditionally see this profession as dull and boring, with very few job opportunities outside of government — but the reality is quite different.

With the mountain of data being produced (literally exabytes each year), and the exponentially increasing need for immediate quality data, statistics is now “en vogue”. No longer is the statistician  confined to the government sector, but companies like Google, Netflix, and Amazon all have Statisticians on staff. And with the volume of data expected to grow at an annual growth rate of 60 per cent, the demand for statisticians and data analysts is also expected to grow at alarming rates.

What we have seen over the years is that as the demand for this unique brand of mathematically gifted individuals increase, more and more young people are being drawn to this profession.  This has ushered in a new brand of Statisticians and Data Analysts that are young, multi-disciplined, highly computer literate and even fashionable.

In fact, so much has the statistical profession changed over the years, that it has spawned a whole new category of professionals that are demanding top dollar in the global job market. In today’s world, a degree in statistics gives you the option of also becoming a statistical analyst, or a statistician — add to this training in other disciplines like information technology and biology and you have struck gold. You can easily secure a job as a biostatistician (US$100 thousand per year), data miner (US$110 thousand) or statistical programmer (US$175 thousand) in virtually any country across the globe.

Hal Varian, Chief economist at Google predicts that statistics will yield the top earning jobs in the next ten years. One might be wondering, what lead to this tremendous increase in demand for professionals in this field. The answer is simple; we are now living in the ‘Information Age’. We now live in a world where data is collected on almost everything we do. From the websites we visit, to the things we buy, to the places we go, data is being collected. What this has created is a mountain of data, which requires skilled professionals to break it down into meaningful information. With the advent of globalization, and the reduction in barriers to trade, whether or not a company survives depends on its ability to gather meaningful information before the competition. In the world in which we we now live, a manufacturer’s ability to spot future trends, and to analyse spending patterns could mean the difference between great success and bankruptcy. As such, more and more companies are demanding professionals in the arena of statistics.

On a much larger scale, whether or not a country develops depends critically on their ability to obtain and understand the economic and social statistics produced by the national statistics agency. Data on unemployment and inflation inform fiscal and monetary policy, which charts out the direction an economy takes. Information on international trade and balance of payments speak to the country’s current account balance, and even gives insight into the amount of foreign exchange required for the normal functioning of the economy.

The fact of the matter is, as data continues to grow the demand for analysts and statisticians will continue to increase, as people move away from taking decisions on a whim, and move towards evidence based decision making. We have entered into the information age, and with it has come the dawn of the modern statistician.

Leesha Delatie-Budair · Kingston, Jamaica

Leesha Delatie-Budair is an up and coming economist, who specialises in development issues affecting small island developing states. She is passionate about the persistent underdeveloped state of economies in the Caribbean and ultimately aims to be a key driving force in the quest for development. She is an advocate for regional integration, and believes that our shared past and common goals necessitate collaboration.

leesha@antillean.org