M.Com in Statistics is a specialised postgraduate course under the Master of Commerce programme. The two-year academic programme is covered over four semesters, with each course year having two semesters. This course in statistics focuses on delivering the knowledge of a variety of statistical and mathematical methods, especially in the backdrop of finance and insurance industries. Students pursuing this course not only learn about risk assessment in these industries but they also understand about the domains of social sciences and econometrics. They learn to gather and interpret statistical data precisely.
Further, M.Com in Statistics course makes students efficient in statistical design, which may include the design of surveys and implementation of experiments. By completing this course, students gain proficiency in applying statistics in a wide range of tasks like operational planning, standards setup, and functional control. As statistics is related to various fields, such as education, medicine, psychology and scientific studies, it can be an advantage for students who go on completing their PG degree in Statistics. However, it is also important to possess certain abilities before one takes up this course. Read further to know about these qualities and skills.
Not all students who simply desire to become a statistician can perform excellently in the M.Com in Statistics programme. Some prerequisite skills make them suitable candidates to go for this course. Following are some of the critical skills required for pursuing the postgraduate degree in statistics:
A strong mathematical background
Powerful analytical ability
Planning and organisational skills
A focused mind and high concentration levels
Excellent data handling and processing skills
Good at computers
Problem-solving ability
Decision-making skills
Good at time management
Now when you are aware of the skills you need to possess to join the M.Com in Statistics programme, it is also important to select the right college. Explore the institutions in India that can fulfil your dream of becoming a great statistical expert here:
Master of Commerce programme in the specialised field of statistics is not very widely available. However, some reputed private and public institutions or universities offer high-quality programmes in this domain. The prominent of them include:
Maharshi Dayanand Saraswati University, Ajmer
Veer Narmad South Gujarat University, Surat
University of Rajasthan, Jaipur
Students should note that credible bodies like AIU and UGC recognise the above-mentioned institutions. Most of the institutions offer a full-time M.Com in Statistics course.
After completing the M.Com in Statistics course, students can work as statisticians, business analysts or data analysts in a variety of organisations. Almost every organisation or company has to deal with finances and accounts. Statisticians can be of great help in such departments. The training received from the course in statistics can be helpful for students who want to work in government departments, commerce bodies, and finance industry. However, there is no dearth of job options for statistics experts. Ranging from sports organisations to weather departments, every group needs the services of statisticians.
Apart from this, some students may like to work with research firms and institutions, all of which need statistical experts. Students can also go on pursuing a higher-level course like PhD in Statistics or appear for the UGC-NET exam to get research fellowships. They can even become lecturers or instructors in academic institutions where Statistics is a subject. In addition to such options, there are opportunities for statistical experts in social groups or economic bodies. They are fit for several positions like those of a mathematician, risk analyst, statistics trainer, and consultant. Thus, the scope is vast after students complete the course of M.Com in Statistics.
Before you plan to apply for admission in the M.Com in Statistics course, do not forget to ensure that you meet the following basic eligibility criteria set by most institutions offering this course:
The candidate must have a graduation degree in Commerce or an equivalent degree from a recognised institution or university. Graduation must be done with Commerce subjects, such as Economics, Mathematics and Accounts.
The candidate should have scored at least 50% marks in aggregate in the graduation final exam. However, this criterion may differ for varied institutions and candidate categories.
The candidate must appear for an entrance exam if that is required by a specific Institute to select the candidates and offer them admission in the M. Com in Statistics course. While many universities admit students based on their performance in an entrance exam conducted by it, some may also offer admission based on their graduation performance. Thus, it is critical for the candidate to check this criterion with the particular institution or university to which they apply.
M.Com in Statistics is a specialised programme in itself. There are no further specialisations offered under this course. However, the course offers a detailed knowledge of the statistical domain and trains students on various aspects, such as Financial Planning, Business Management, Mathematics, Statistical Analyses and Economics. The course gives them the practical knowledge in areas like advanced statistics, statistical inference, statistical techniques and tools, hypothesis testing, demography, and econometric methods.
Further, M.Com in Statistics course offers training in domains like biostatistics, psychological statistics, energy statistics, social statistics, and engineering statistics. Students also learn about database management systems, data analysis, probability theory, and business stats. With such thorough training in the field of statistics and its applications, students turn into efficient professionals who can take up a variety of job roles in varied types of organisations.