However, this whole area of long range dependence is actually blossoming now despite some controversy. Lately long range dependence has become somewhat important in financial data analysis. Research on long range dependence is published in many financial type journals, monetary economics papers, and statistical papers. Earlier this type of research could be found only in hydrology type papers, or papers on water resources. In general my kind of research is statistical.
Statistics is something people are really afraid of.
It is complicated. I am not a statistician myself, although all my work is in statistics. You have to collaborate with people who know the statistics. At the end you want a simple model that captures what you want. The problem is how to translate this highly complicated stuff and make it usable for a simple engineer.