There are many reasons why someone would want to go into a business career. Primary among these is that such a career can allow you to be your own boss, enjoy making great profits, and having a successful and comfortable life. However, to reap all the benefits of such a career does mean having to put in a huge amount of work to get to where you want to be.
Business is all about innovation and pushing the boundaries of what is possible, and this thinking shouldn’t be confined to your eventual business plan, it should start right from when you begin training.
The obvious choice when you want to go down this career path is to take a business degree and this a good idea to give you the basic tools to get your foot in the door. However, success never came to the mediocre and the way you push the boundary on this is to continue your education and develop a specialism that will put you a full head and shoulders above your competition.
One option is to investigate how STEM subjects can aid you to the business world and help you to achieve your goals. To give you some more insight into how this could work, this article will take you through some of the essential information you need to gain a better understanding of how STEM can help you to be a self-made success.
What is a STEM subject?
If you have solely been trained in business before now, you may have heard the term STEM but still be slighting unclear when it comes to understanding what STEM is. STEM refers to a collection of subjects in academia as follows:
- Science
- Technology
- Engineering
- Mathematics
On the face of it, you may still be wondering how these areas of study can relate to and be useful for business endeavors but, in actuality, STEM subjects are currently the most internationally employable fields in the world due precisely to the fact that the skills involved are profitable for a multitude of reasons, making it a great idea to do your training in.
How will STEM help your business career?
To better convince you of why STEM is the right choice for your further training, you need to have a more in-depth understanding of the specific the applications of STEM in the business sphere. For this, the best field to look into is that of statistics, as this has a plethora of uses of business people such as yourself.
Business statistics is a specialty area of statistics which are applied in the business setting- so far, so simple. It can be used for quality assurance, financial analysis, production and operations, and many other business areas.
Just as with the general study of statistics, business statistics are split into two, distinct areas:
- Descriptive Statistics
Differential statistics are useful to business people to help manage and monitor business activities and make decisions through looking at numbers such as mean, or the average number, mode, or the most frequent number, or median, or the middle number, through research projects. This can be applied to everything from cutting down queue times for customers at your shop to managing the stock and dispersion of workers between multiple stores.
- Inferential Statistics
Inferential statistics are useful for being able to draw conclusions on limited data to make smart choices with your business going forward. Using the statistical strategies of sampling, probability, and models, you will be able to make accurate predictions about the future of almost every area of your business and anticipate what is just around the corner so that you are ahead of the curve.
How can you gain meaningful STEM skills?
Now you are beginning to get some idea of just how useful a STEM subject such as statistics can be for an ambitious business person seeking out success, so the next step is to work out how you can personally gain these skills to stand out from the crowd and start running a profitable business.
The best place to start is by looking at the online statistics degree offered by Michigan Tech. Doing an online master’s degree course is a fantastic way of ensuring that you are able to continue earning while you are planning your business model and doing market research. This easy integration of study into your everyday life will allow you to constantly see how your statistics degree is helping you make advancements with your business plans in real time and help you to better understand the practical application of mathematics to reaching your business potential.
How will training in statistics help achieve your business goals?
The usefulness of statistics has already been covered in the above section, so here, you will learn about how statistics will help your career overall.
While you will doubtlessly already be planning your own business venture which will have you at the helm, in the meantime, getting another job in the business sector which is relevant to what you want to do in your own business will help you to apply your skills in a practical environment, rather than just a theoretical one, and help to build the business contacts you need to succeed. Having a degree in statistics will make you stand out amongst all the other candidates that will be going for a job such as this because you will be able to offer something new.
Another thing to bear in mind is that the skills acquired through the study of a STEM subject are transferrable to a whole host of other career paths should you ever want to change things up later on in life.
A new way of thinking
The final thing to take note of is how statistics will change the way you make business decisions.
The study of statistics will aid you in making more logical and evidence-based choices that will aid in creating a successful and sustainable business going into the future. By thinking outside of the box when it comes to your training, you will already be in a good position to make a business that is breaking boundaries.
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