The Discipline focuses on the following areas: Statistics, BioStatstics, and Financial Mathematics.
Statistics gives meaning to numbers and includes all the ways in which data are collected, processed and interpreted. Professionals in many fields, such as commerce, actuarial science, operations research and economics require a sound knowledge of statistics.
Academic and research statisticians are concerned with the training of students and with statistical research in a chosen specialised field. New theories are developed and existing theories are revised, providing the theoretical foundations upon which the applied statistician depends. Basic research in statistical theory is mainly conducted at universities.
Applied statisticians are concerned with problems of data interpretation in the commercial, industrial and scientific sectors. They assist in planning procedures to collect and analyse information. Applied statisticians work in such diverse fields as finance, economics, engineering, medicine, psychology, astronomy, chemistry, life insurance and agriculture (more specifically, the Biometrician). They are responsible for the design of the sampling procedures and experiments and they assess the reliability of the conclusions.