Both. In college I took 20 weeks worth of statistics (theory and some engineering application for things like t tests, ANOVA, etc.). I'm currently going through the Lean Six Sigma Green Belt certification process, which involves stats to the level of DOEs, Multivariate statistics, non-normal distributions, etc. on a largely applied level. This has the potential to be a very hand-wavey, obtuse subject if you don't truly know what you're doing, which many people don't so you'll likely find mixed reviews on this. But if you do understand the fundamentals, it looks like an extremely powerful tool. The two weeks of training were conducted by certified Black Belts within my company, and one consultant who is also a university professor in the area who has 30+ years of experience and is absurdly knowledgeable. From here on out it's on me, though I plan on having continuous interaction with the Black Belts and have signed up for some webinars from the SAS Institute and plan on doing multiple a month to continue my learning.