Professions are becoming increasingly multidisciplinary. It is no longer enough to master only one technological or managerial field, we must know how to combine aspects from several different disciplines in order to manage a coherent body of information and data. The field of statistics plays an important role in this sense because it helps us "to sort out" information and to keep only the essential in order to draw relevant conclusions. The importance of statistical tools becomes clear when one considers the steadily increasing flow of raw data that needs to be processed.
In the financial field, for instance, banks can no longer rely solely on traditional methods. They increasingly depend on statistical forecasting methods. Banks use specific statistical methods such as time series, nonparametric methods and robust techniques.
In economics, statistical tools such as stochastic processes, play an essential role in analyzing social welfare, dynamics in employment, quality of life, and conservation and usage of energy. In the vast field of demographics, statisticians use sophisticated forecasting models to predict population growth.
In industry, companies routinely makes use of experimental designs, another statistical method to test new products or to improve quality control.
Statistics also plays an important role in health fields, especially in epidemiology and medicine. In epidemiology, vaccination programs have been the subject of statistical studies. Here, the aim is to determine population segments most susceptible to a disease, the rate of virus transmission, and the consequences of vaccination. In medicine, clinical trials are particularly useful in comparing various treatments to demonstrate the effectiveness of new medication.
Evidently, statistical methodology and applications are indispensable. Training in statistics must combine experimental, practical and theoretical aspects. The Master's degree in statistics is particularly designed to equip students with these vital skills. The program provides a solid training in statistical theory and applied methods in practical experience. It is catered to both university students and professionals.