Quant opinion: Do you think Statistical Analysis work can be outsourced to expert statisticians?

(Last Updated On: December 1, 2011)
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Quant opinion: Do you think Statistical Analysis work can be outsourced to expert statisticians?





It’s a big “it depends”. Give more info on your environment/study/conditions.

Yes, certainly, under the right conditions. We offer data management and statistics analysis as a service (www.symbolix.com.au) and have found that demand for detailed analytics and statistics has grown in the last few years, particularly in areas like environmental impact assessment, business analytics/optimisation and with big public data sets.

The challenge, when looking to outsource any technical requirement like this, is to ensure that the contractor/consultant has a strong technical knowledge (obviously) but also a sense of the business requirements that you have. Business/Industrial statistics often has to compile data from multiple sources and the outcomes are much more focussed around achieving real insight for decision making and relies on a lot of exploratory data analysis tools backed up by inferential rigour. Good technical communication and visualisation skills are really important too.



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About caustic

Hi i there My name is Bryan Downing. I am part of a company called QuantLabs.Net This is specifically a company with a high profile blog about technology, trading, financial, investment, quant, etc. It posts things on how to do job interviews with large companies like Morgan Stanley, Bloomberg, Citibank, and IBM. It also posts different unique tips and tricks on Java, C++, or C programming. It posts about different techniques in learning about Matlab and building models or strategies. There is a lot here if you are into venturing into the financial world like quant or technical analysis. It also discusses the future generation of trading and programming Specialties: C++, Java, C#, Matlab, quant, models, strategies, technical analysis, linux, windows P.S. I have been known to be the worst typist. Do not be offended by it as I like to bang stuff out and put priorty of what I do over typing. Maybe one day I can get a full time copy editor to help out. Do note I prefer videos as they are much easier to produce so check out my many video at youtube.com/quantlabs