The School of Statistics & Actuarial Science, part of the Faculty of Science at Johannesburg’s University of the Witwatersrand in South Africa, offers a BSc degree and recommends a leading-edge curriculum that combines both business and mathematical subjects.
A statistician deals with the collection (the design and execution of experiments and the use of questionnaires and surveys to obtain data), analysis (methods and techniques that statisticians use to analyse the data collected), interpretation and representation of data (drawing meaningful conclusions from the analysis of the data).
An actuary applies analytical, statistical and mathematical skills to financial and business problems, especially those involving uncertain events - such as in life insurance, general insurance, risk management, health care financing, investments, corporate finance, banking, retirement funding and social security. Actuaries help individuals and businesses to make financial sense of the future; to safeguard their financial wellbeing in an ever-changing world.
Possible career paths include market research, official statistics, academic teaching and research, retirement funds, stock broking, investment managing, business management, economics, town planning, mineral prospecting and medical imaging, among others.