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Statistics, Recent Developments and Applications

The Department of Mathematics, Covenant University, recently held a Town and Gown interactive seminar at the multipurpose hall of the Center for Entrepreneurial Development Studies (CEDs), with an esteemed Data Scientist and Cybersecurity Analyst, Professor David Adegoke, as the Guest Speaker, on the theme, ‘Recent Advances in Statistics and its Applications.’

During his presentation, Professor Adegoke decried the level of ignorance many people display towards the relevance of statistics and its applications in different areas. He discussed the wide-ranging applications of statistics in various fields such as economics, finance, business, marketing, government, education, environmental science, manufacturing, information technology, agriculture, and telecommunications.

He defined Statistics, in its broad sense, as a collection of tools and methods for evaluating, interpreting, displaying, and making decisions, based on data, and highlighted several developments in statistical approaches to problem-solving, including Explainable AI (XAI), which aims to enhance the transparency and comprehensibility of machine learning models.

He also mentioned the significance of project management in analyzing real-time project progress using new statistical inference techniques. In the realm of statistical genomics, he covered methods for rare variant analysis, association studies, and polygenic risk score computation. Additionally, he touched upon applications in big data analytics, spatial statistics, and healthcare.

Professor Adegoke emphasized the importance of artificial intelligence and advanced analytics, which involve extracting insights from data using complex machine learning and visualization techniques. He discussed the role of advanced analytics in fraud detection, Internet of Things (IoT) and smart cities, financial portfolio optimization, image and video analytics, and churn prediction. Furthermore, he outlined the essential skill sets required for advanced analytics.

Earlier in his opening remarks, the Head of Department, Mathematics, Dr. Olasunmbo Agboola, provided insights into the establishment of the Town and Gown interactive platform, stating that was an initiative that aims to prepare students for the professional world by enabling them to learn from industry experts.

He encouraged students to actively engage with the presentation and take thorough notes to prepare themselves for future endeavors.

Others at the event were senior members of faculty and staff of the department.


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