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

 

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

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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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