7 Professions That Leverage Big Data

By Ani Rud | Analytics Career

Jan 15

Statistician– A statistician is someone who works with theoretical or applied statistics. The profession exists in both the private and public sectors. It is common to combine statistical knowledge with expertise in other subjects. Some of the responsibilities of statisticians include:

    • Apply statistical theories and methods to solve practical problems of various industries.
      Determine methods for finding and collecting data.
      Design surveys or experiments to collect data
      Analyze and interpret data and create reports based on the analysis.
  • Actuary– Actuaries are some of the highest paid professionals in the insurance industry. An actuary is a business professional who analyzes the financial consequences of risk. Actuaries use mathematics, statistics, and financial theory to study uncertain future events, especially those of concern to insurance and pension programs.

    They quantify the financial impact of risk, price insurance products based on statistical analysis, and help establish adequate reserves so companies remain solvent.

    On a day-to-day basis, they often use excel or other software to analyze big data, or work with senior level staff to establish a risk averse business strategy.

    Bioinformaticians – A field that develops methods and software tools for understanding biological data. As an interdisciplinary field of science, bioinformatics combines computer science, statistics, mathematics, and engineering to analyze and interpret biological data.

    Bioinformaticians use computational tools to gather and analyze data in fields such as population, biology, genetics, and pharmaceutical development. It is an interdisciplinary approach using data collection and modeling to analyze biological data. Bioinformaticians create mathematical models, develop dynamic simulations, and perform pattern analyses of biological systems. They are also known as biostatisticians, biometricians, and computational biologists. Careers related to bioinformaticians include biochemists, biophysicists, and medical scientists.

    Bioinformaticians work within different medical science and health fields, including biology, genetics, proteomics, and pharmaceuticals. Some professionals come from a biomedical research background while others specialize in computational tools.

    Financial Engineering– Financial engineering draws on tools from applied mathematics, computer science, statistics and economic theory. In broadest definition, anyone who uses technical tools in finance could be called a financial engineer, for example any computer programmer in a bank or any statistician in a government economic bureau.

    • They are generally responsible for building the financial tools and creation of model design, data preparation, model development, implementation, documentation, and on-going monitoring & refinement of existing models.
      The financial engineer uses different computer programming languages, mathematics, and statistical methods for designing financial models.
      These engineers generally design software applications that can predict any movements in price, forecast losses, perform competitor analysis and incorporate the macroeconomic factors to portfolio, understand Pricing sensitivity to the customers etc.
      They also conduct advanced statistical analyses to identify suspicious activity patterns, industry risks, or any complex, critical issues concerning the trends associated with money laundering or other financial crimes, assist simulation and analysis for model development or ad-hoc analysis.
  • Social Statistics – Social statistics is the use of statistical measurement systems to study human behavior in a social environment. This can be accomplished through polling a group of people, evaluating a subset of data obtained about a group of people, or by observation and statistical analysis of a set of data that relates to people and their behaviors. See more in wikipedia

    Operations Research– A discipline that deals with the application of advanced analytical methods to help make better decisions. Employing techniques from other mathematical sciences, such as mathematical modeling, statistical analysis, and mathematical optimization, operations research arrives at optimal or near-optimal solutions to complex decision-making problems.

    Because of its emphasis on human-technology interaction and because of its focus on practical applications, operations research has overlap with other disciplines, notably industrial engineering and operations management, and draws on psychology and organization science. Operations research is often concerned with determining the maximum (of profit, performance, or yield) or minimum (of loss, risk, or cost) of some real-world objective. Originating in military efforts before World War II, its techniques have grown to concern problems in a variety of industries.

    Epidemiologists are public health professionals who investigate patterns and causes of disease and injury in humans. They seek to reduce the risk and occurrence of negative health outcomes through research, community education, and health policy.

    Field epidemiologists are scientists who study the spread of infectious diseases with the goals of containing the current outbreak and preventing future recurrences. They conduct and interpret analyses, develop appropriate statistical models, manipulate complex databases, and track and evaluate patterns of care and outcomes.

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