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Updated By Abhinav Chamoli on 25 Nov, 2020
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The subject of Statistics has been gaining immense popularity in the past few years due to which institutes have started programmes in statistics on different levels. One of these programmes is Master in Business Administration in Statistics. An MBA in Statistics is among the newly introduced courses that have lured many students due to their high popularity and innovative course structure. It is a programme of the postgraduate level that is completed in two years and is also offered through the distance or correspondence modes by some institutes.
Through the programme of MBA in Statistics, skills and insights are developed in the students that are required to draw inferences and conclusions from several types of data. Nowadays data is an essential part of all organisations, no matter which sector. A key challenge that is faced by managers of even great companies is the interpretation of the vast amount of data which is generated in the world of business today. This is inevitable as modern computing systems now produce large volumes of data and information. Previously, one could often only rely upon guesses and intuition but times have changed and this practise is no longer advisable. Statistics and data analysis offer a systematic approach that can be extremely helpful in providing answers to these questions.
An MBA in Statistics develops the skills and aptitude of students that are required for making effective use of statistical methods. The course provides knowledge which is needed to select and apply techniques and also to communicate statistical results. The theory part of MBA in Statistics helps in motivating and comparing alternative schemes whereas interpretations in realistic applications offer guiding examples. An MBA in Statistics also provides useful skills that are capable of augmenting the substantive managerial abilities of students. This course offers exposure to computer software which implements key techniques as well.
First Year:
Fundamentals of Management | Organisational Behaviour |
Principles of Statistics Management | Accounting for Managers |
Marketing Methods for Business Decisions | Information Technology for Managers |
Indian Ethos and Values | Business Communication |
Human Resource Management | Financial Management |
E-Business Fundamentals | Quantitative Techniques |
Personality Development | Consumer Behaviour |
Second Year:
Introduction to Statistics | Meaning, Role, and Techniques of Statistics |
Probability and Probability Distribution | Correlation Analysis |
Regression Analysis | Time Series Analysis |
Chi-Square Analysis | Sampling Theory and Tests of Significance |
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The programme of MBA in Statistics offers jobs to candidates in several avenues. Various fields such as agriculture, business, industry, computer science, healthcare, pharmaceutical, automobile etc. are on a constant hunt for MBA graduates with specialisation in statistics. Students can land at lucrative jobs in both government and private sector after they are done with their degree of MBA in Statistics. Some of the most popular jobs offered to those who possess an MBA in Statistics are given below.
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Lovely Professional University National Eligibility and Scholarship Test , Karnataka Management Aptitude Test , NIPER Joint Entrance Exam , Tamil Nadu Common Entrance Test , IBS Aptitude Test are some of the exams that you can appear for to get admission in MBA in Statistics courses.
Following are some of the top colleges offering Management courses : Indian Institute of Management Ahmedabad (Ahmedabad) , S.P. Jain Institute of Management and Research (Mumbai) , International Management Institute (New Delhi) , Narsee Monjee Institute of Management Studies (Mumbai) , Jamnalal Bajaj Institute of Management Studies (Mumbai). You can explore these colleges on our website to check if they offer MBA in Statistics or not.
The average fee for MBA in Statistics is INR 8,00,000 per year.
Some of the popular specializations for M.B.A. (Master of Business Administration) are : Global Business Operations , Information System Management , Operations Research , Material Science.
MBA in Statistics is a 2 year course.
Get details of best colleges for MBA in Statistics.
