FREQUENTLY ASKED QUESTIONS
1.What does STATA do?
Stata is a complete, integrated statistical software package that provides everything you need for data analysis, data management, Econometric Modeling and graphics.
2.How will knowledge of STATA improve my job market prospects?
Stata is one of the leading and fastest growing econometric software packages on the market today. Over the past five years, citations to Stata programs in scholarly articles indexed in Google Scholar have increased by 55 percent to 23,000 citations in 2014. Employers in a wide variety of fields value knowledge of this important software tool; in July of 2015, nearly 1,400 job openings posted in Indeed.com mentioned knowledge of Stata as an important asset for candidates. One can find an even higher figure for the jobs being posted on LinkedIn by Indian as well as global Employers listing knowledge of Stata as one of the qualifications they look for among their candidates. Because of the growing popularity of this statistical tool over other existing tools in the market, it is wise to learn this software and adapt to the changing needs of the job market today.
3.What are the advantages of STATA software per se over other statistical softwares?
Some of the advantages of STATA, which ensures that learning it is a sagacious proposition includes:
- Built in commands to manage and clean data, engage in basic statistical analysis, perform advanced econometric procedures including panel and time series regression models, and create visually stunning graphs and tables. Although some of these features are present in other softwares too, but, unlike STATA not all in one package!
- Stata allows you to write your own code or use drop-down menus to perform your analysis.
- Stata can import data in a variety of formats, including csv, spreadsheet, SPSS, Eviews formats & many more…..
4.What are the options open to me after I complete all 3 levels of STATA?
Today STATA is being used widely in the job market across the globe. It virtually opens for you the doors of all possible analytics job which may be in the research sector, corporate or in an NGO. You name it and you’ll find it. In an era of Big Data, job opportunities are on the rise and the employment of economists/other social scientists is predicted to grow 14 percent by 2020. Organizations across many industries are increasingly relying on economic analysis and quantitative methods to understand and forecast performance. Knowledge of STATA does it all for you!STATA training modules prepare you with the necessary credentials to help obtain a leadership position within the following types of organizations:
- Economic (or Social Science) Consulting/Private Industry: A wide variety of private consulting firms, banks, and other private firms hire analysts or economists to help maximize profits. Some of the institutes/firms of repute using STATA constitutes of: McKinsey, Deloitte, PWC, UNDP, ILO, World Bank, ADB, etc.
- Government Agencies: Almost all government agencies, and many local governments, staff economists/expert social scientist who can build policies by amalgamating theoretical models with strong analytics. Leading employers include: Ministry of Finance, Bureau of Labor Statistics, Census Bureau, and the Department of Agriculture.
- Not-for-Profits/International Agencies: Credentialed economists help improve the economic conditions of others as well as manage the financial affairs of these organizations.
5.Are there any advantages of learning STATA if I aspire to do an MBA after my graduation?
As highlighted before, STATA is the need of the hour in all leading corporate units, so if you intend to join one after completing your MBA degree, you may not be ahead in the race if you fail to equip yourself with the latest software. The trends from last six years clearly predict that there is a lower probability of a job seeker to get into big corporations even after possessing the required degree if they do not possess knowledge of the statistical tools to be applied. Moreover, given that STATA is not being “taught” in Universities so knowledge of STATA will help you immensely in undertaking your empirical project work which is an in-built component of any MBA program. In fact, knowledge of STATA, opens up options to intern with institutes of repute.
6.How long will it take to attain proficiency in STATA program?
STATA is a tool which allows you to experiment and expand your horizon as much as you can. The program is generally taught at 3 levels—the basic, intermediate and the advanced level where the last level has no limits! The advanced level, at times, varies from the specific requirements of the sector you are involved in. We offer a 40 hours integrated program which meets the requirements of researchers enrolled in the research degree program or working as researchers as well as that of data analytics needed to an MBA professional.