Applied statistics is the root of data analysis, and the practice of applied statistics involves analyzing data to help define and determine business needs. With today’s increased access to big data, companies are looking for statisticians, data analysts, data scientists, and other professionals with applied statistics knowledge who can visualize and analyze data, make sense of it all, and use it to solve real-world problems.
Companies have so much data, and properly analyzing it can lead to increased efficiency and profitability. Government agencies, nonprofits, and other organizations can use data to help prevent disease, collect important demographic information, steer political campaigns, and test potential life-saving pharmaceutical products.
Applied mathematics is the application of mathematical methods by different fields such as science, engineering, business, computer science, and industry. Thus, applied mathematics is a combination of mathematical science and specialized knowledge.