Top Online Master's in Statistics and Data Analytics
Updated November 3, 2023
Master's in Statistics Online
Master's programs in statistics and data analytics train learners for many diverse careers. Graduates may work as data scientists, management analysts, or statisticians. Degree-holders may also pursue careers as market research analysts or mathematicians. Employers trust these professionals to forecast trends and make recommendations.
Students who enjoy numbers and analysis may thrive in online statistics and data analytics programs. An online format can also help learners earn a degree while continuing their career.
This page explores master's programs in statistics and data analytics, including costs and common classes. Read on for answers to common questions and to learn about career options for graduates.
Top 5 Online Schools for Statistics
| College | Program Stats | How much? | ||
| #1 Colorado State University - Fort Collins
Fort Collins, CO |
Tution
| $17,627 #2 Pennsylvania State University - World Campus
|
University Park, PA |
Why Get a Degree in Statistics and Data Analytics?
Earning a master's in statistics and data analytics can help graduates increase their salary potential. Professionals with a master's degree earn an average of nearly $12,500 more annually than bachelor's degree-holders. Most statistics and data analytics professionals work during normal business hours.
Degree-holders can also explore travel opportunities. Data consultants often travel to meet with clients. Some professionals start their own business and benefit from freedom and flexibility.
A degree in statistics and data analytics helps prepare learners for more than one type of position. Learners gain specialized knowledge to impact organizations positively.
How Much Does a Statistics and Data Analytics Degree Cost?
Degree costs vary by school and students' residency status. Learners attending public in-state schools pay the most affordable tuition. On average, master's degrees cost $66,340, according to EducationData.org. Learners can complete a master's degree in two years. Accelerated programs help students graduate sooner.
Financial aid such as scholarships and grants can help students pay for their degree. An online format can also allow degree-seekers to continue earning an income while pursuing their master's.
Additional Online Student Fees
Online learners can save money by not commuting or paying for campus housing. However, they should budget for other expenses, such as materials and books. Learners can save money by buying digital or used books. Some programs charge technology and graduation fees.
Online learning requires a reliable computer and internet access. Students may need to buy a new laptop to access online learning platforms.
How Much Do Statistics and Data Analytics Majors Make?
As of Jan. 2022, Payscale reported that professionals with a master's in business data analysis earn an average annual salary of $80,000. Professionals with a bachelor's in this subject earn an average of $65,000.
The Bureau of Labor Statistics projects jobs for business and financial professionals to grow 8% from 2020-2030. This rate is about as fast as average for all occupations. Professionals working in the business and financial fields earn a median annual salary of $72,250.
Courses in Statistics and Data Analytics
Most master's in statistics and data analytics degrees require 60 credits. Degree-seekers hone their hard and soft skills. They discover how to communicate clearly and confidently. They also practice using computer software that displays data.
See below for three common statistics and data analytics classes. Please note that not every program offers these classes. This list is a sample curriculum.
Students learn how to apply statistics to predict future outcomes. They explore data-mining technology and how to use it ethically. Coursework covers how to provide financial advice for investments. The class features classroom discussions and application practices.Predictive Modeling
This course teaches learners how to construct a study. Degree-seekers learn how to find study participants and protect the integrity of research. Students also learn how to present findings. Coursework also lets enrollees practice using software to create data visuals. Learners can submit their research projects to industry journals for publication consideration.Best Practices for Research
Learners must complete a thesis before graduating. A thesis may contain 60-100 pages explaining new research or testing an industry theory. A thesis committee evaluates the paper's quality. Learners work on their thesis throughout the program and receive a pass or fail grade. Some statistics programs require a capstone instead of a thesis.Thesis
Career and Salary Outlook for Statistics and Data Analytics Students
Master's programs in statistics and data analytics prepare learners with the skills they need to succeed in math-related roles. Degree-holders typically work in offices or travel as consultants.
See below for three possible careers for graduates with a master's in statistics and data analytics.
Operations Research Analyst
These professionals use math to solve issues. They aim to increase their clients' profits by using predictive modeling. These analysts also study company databases and sales histories. They need strong communication skills to present their suggestions and write reports.Mathematicians and Statisticians
These professionals work with government organizations and science companies to solve issues. They collect data and design surveys. They also interpret the data and make suggestions based on findings and mathematical theories. Mathematicians and statisticians present data using statistical software.Market Research Analysts
These analysts study market conditions to make product development and marketing recommendations. They also run focus groups to gather feedback from target audiences. Market research analysts convert complex data into easy-to-read visuals. They often work for consulting firms
| Career | Median Annual Salary | Projected Growth Rate (2020-2030) |
|---|---|---|
| Operations and Research Analysts | $86,200 | 25% |
| Mathematicians and Statisticians | $93,290 | 33% |
| Market Research Analysts | $65,810 | 22% |
Source: Bureau of Labor Statistics
Top 5 Online Master's in Statistics Programs
#1 Colorado State University - Fort Collins
Fort Collins, COMaster of Applied Statistics (MAS) – Statistical Science Specialization
Students interested in a statistics and data analytics program should consider Colorado State's master of applied statistics (MAS) offered through the College of Natural Sciences. The 31-credit program maintains specializations in data science and in statistical science. Enrollees can pursue the degree online or on campus. Applicants must hold a bachelor's degree from an accredited institution and submit their latest GRE scores or pass the Math Entrance Exam. Applicants must possess an academic background that includes a minimum of three semesters of calculus, a course in linear algebra, and at least three credits of undergraduate statistics. The MAS program begins in the summer term and takes as little as one year. Courses follow eight-week delivery schedules. The curriculum includes coursework in regression models and applications, quantitative reasoning, and methods in multivariate analysis. Throughout the program students focus on real-world applications, allowing them to develop an in-depth grasp of applied statistical procedures and data visualization.Tuition: $17,627
#2 Pennsylvania State University - World Campus
University Park, PAMaster of Applied Statistics
Penn State World Campus offers a 30-creditmaster of applied statistics (MAS) entirely online. In addition to a bachelor's degree from an accredited institution, applicants must submit their GRE scores. They must also show completion of a three-course calculus sequence and display a solid knowledge of matrix algebra. Applicants with a doctoral degree in a related field can request for a waiver of the GRE requirement. Like most statistics and data analytics programs, the core curriculum includes introductory courses in mathematical statistics and in probability theory. Classes also cover regression methods and analysis of experiment variance and design. MAS candidates must complete a capstone project prior to graduation. Students can transfer up to 10 credits from another accredited institution completed in the last five years. The admission committee will review all transfer credits. The program meets the educational requirement for the Base Programming Certification Exam administered by the Statistical Analysis System.Tuition: $21,772
#3 Stanford University
Stanford, CAMaster of Science in Statistics
Students wanting a master's degree in statistics and data analytics should consider Stanford's 45-credit online master of science in statistics in The School of Humanities and Sciences. The school offers the program as a terminal degree and prepares graduates for careers in a STEM field. Applicants who wish to pursue a doctorate in statistics must apply directly to the doctor of philosophy program. The school requires applicants to demonstrate programming proficiency in addition to a background in advanced linear algebra, statistics, and probability. Students must complete all credits for the MS degree at the university. Most enrollees earn the degree within two years. MS candidates complete core coursework in probability, implied and theoretical statistics, and stochastic processes. Students who demonstrate sufficient knowledge in foundational courses within these areas can enroll in advanced classes with their advisor's approval. The school offers all required courses for the MS degree online, but students may need to take some elective and specialization coursework on campus.Tuition: $51,354
#4 University of Kansas
Lawrence, KSMaster of Science in Applied Statistics, Analytics & Data Science
The master of science in applied statistics, analytics, and data science at the University of Kansas comprises 30 credits entirely online. Applicants must hold a bachelor's degree from an accredited institution with a cumulative undergraduate GPA of at least 3.0. The program also requires applicants to show completion of advanced calculus and statistics coursework. Candidates must also demonstrate mastery of a computer programming language. Applicants may optionally submit their GRE scores. Students admitted to the data science, statistics, and data analytics degree choose one of the three areas as their emphasis. Foundation and emphasis area courses make up 24 credits, with the remaining credit requirements coming from elective classes. Foundation coursework includes categorical data analysis, multivariate statistics, and linear regression. Classes also cover professionalism, ethics, and leadership in the statistical sciences. Students must pass a comprehensive exam to graduate.Tuition: $16,677
#5 North Carolina State University at Raleigh
Raleigh, NC
Master of Statistics
The 30-credit online master of statistics at North Carolina State University at Raleigh consists of 21 credits of required core coursework and nine credits of electives. The university offers all required courses, but only some of the electives, online.
Applicants must hold a bachelor's degree from an accredited college or university and show that they completed courses in multivariable calculus and matrix algebra. The program does not require the submission of GRE scores, but applicants may include them in their application if available.
Students can pursue a traditional statistics and data analytics program without a concentration or choose from three concentration areas: statistical genetics, biostatistics, and environmental statistics. The core curriculum includes courses in statistical methods and theory, linear models, and statistical programming. Students who took similar courses at another school may enroll in a substitute class, but the program does not accept transfer credits. Full-time enrollees typically graduate from the program after one year.
Master of Statistics
Tuition: $17,161
Questions About Statistics and Data Analytics
What does a data analyst do?
These professionals take financial data and make strategic recommendations to increase profits. They identify issues and research solutions.
Do you need a bachelor's in statistics to get a master's in statistics?
No. Many graduate statistics programs admit learners with a bachelor's degree in a different subject. These students may need to take additional prerequisite courses.
What can I do with a degree in statistics and data analytics?
Some graduates work for financial consulting firms. Others work as insurance adjusters or self-employed professionals.