Difference Between Similar Terms and Objects

Difference Between Economist and Statistician

Data collection and analysis are major components in any activity ranging from business activities, governance, environmental factors, and human welfare. There are persons tasked with carrying these activities, namely, economists and statisticians. These two may be easily interchanged for the other due to the fact that they work hand in hand, and also data analysis is a core function in both. However, they are different in various ways. 

 

Who is an Economist?

This is a person who is mainly involved in the analysis of data in various areas such as technology, manufacturing, mining and even in the government. The data collected is used to make recommendations for actions, show how laws may interfere with an economy, predict market trends or even make sound suggestions to the government regarding certain issues such as health statistics and interest rates. Among the types of data collected include product or service market demands, prices of products, employment, and even health statistics.

The job specifications of the economist may include but not limited to:

  • Researching and compiling data on historical trends
  • Putting policies in to place for economic benefit
  • Presenting research conclusions to fellow economists
  • Compiling data into software programs and generating graphs using the same

 

Who is a Statistician?

Statisticians come up with effective ways to collect data by use of mathematical disciplines of statistics and probability. The job thus involves enhancing data is accurately collected using an effective and viable method. The statistician also enhances the validity of the data. He then gives reports on ways that the data may be of use in a research. The common uses of statistical data include opinion polls, levels of climatic changes, sports statistics and animal population surveys.

Among the roles of a statistician include;

  • Using sampling methods to model data trends
  • Identifying data relationships by use of computer software
  • Working towards the improvement of methods of collecting data
  • Presenting data in charts and graphs

 

Similarities between Economist and Statistician

  • Both have a role to play in data collection and analysis

 

Differences between Economist and Statistician

Definition

An economist is a person who is mainly involved in the analysis of data in various sectors such as technology, manufacturing, mining and even in the government. On the other hand, a statistician is a person who comes up with effective ways to collect data.

Focus

While an economist focuses on data based on market trends, a statistician focuses on the improvement of data collection methods.

Scope of work

While economists mainly use data collected for the analysis of trends involving money exchange or services and goods, statisticians collect a large variety of data so as to effectively reflect the relationships between the factors in place.

Job responsibilities

An economist carries out various job responsibilities such as researching and compiling data on historical trends, putting policies in to place for economic benefit, presenting research conclusions to fellow economists, compiling data into software programs and generating graphs using the same. On the other hand, a statistician carries out job responsibilities such as using sampling methods to model data trends, identifying data relationships by use of computer software, working towards the improvement of methods of collecting data and presenting data in charts and graphs.

Economist vs. Statistician: Comparison Table

 

Summary of Economist vs. Statistician

While the function of both economists and statisticians is data analysis, they may have different roles in the process. For instance in a project, the economist my develop questions about the market trend and develop a report based on the economic impact of the trend. On the other hand, a statistician develops the survey for data collection purposes and analyses the data collected for accuracy.

 

Tabitha Njogu

Tabitha graduated from Jomo Kenyatta University of Agriculture and Technology with a Bachelor’s Degree in Commerce, whereby she specialized in Finance. She has had the pleasure of working with various organizations and garnered expertise in business management, business administration, accounting, finance operations, and digital marketing.

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References :


[0]Image credit: https://en.wikipedia.org/wiki/Economist#/media/File:Economists_salary.png

[1]Image credit: https://cdn.pixabay.com/photo/2018/01/12/16/16/growth-3078544_960_720.png

[2]OECD. Understanding Economic Statistics: An OECD Perspective. OECD Publishing, 2008. https://books.google.co.ke/books?id=FPXVAgAAQBAJ&printsec=frontcover&dq=role+of+economist+and+statistician&hl=en&sa=X&ved=0ahUKEwjVtKmioofhAhUQBWMBHQb3Bk4Q6AEIKDAA#v=onepage&q=role%20of%20economist%20and%20statistician&f=false

[3]A.W. Bob Coats. The Sociology and Professionalization of Economics: British and American Economic Essays, Volume 2. Routledge Publishers, 2005. https://books.google.co.ke/books?id=-_KJAgAAQBAJ&pg=PA326&dq=role+of+economist+and+statistician&hl=en&sa=X&ved=0ahUKEwjVtKmioofhAhUQBWMBHQb3Bk4Q6AEIMzAC#v=onepage&q=role%20of%20economist%20and%20statistician&f=false

[4]Lee Alice & Lee Cheng. Statistics for Business and Financial Economics, Volume 1. World Scientific, 2000. https://books.google.co.ke/books?id=hnT5hL5YdCYC&pg=RA1-PA698&dq=difference+between+economist+and+statistician&hl=en&sa=X&ved=0ahUKEwiC7Pq7oIfhAhUpDWMBHbuTALIQ6AEIRTAG#v=onepage&q=difference%20between%20economist%20and%20statistician&f=false

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