Market research data analyst jobs

Required Formal Education

A bachelor's degree in market research or a closely related discipline is often required for employment as a market research analyst. A significant number have degrees in subjects like statistics, mathematics, or computer science. Others have educational backgrounds in communications, social sciences, or business administration.

Licenses/Certifications

Certification is not required for analysts, but they might choose to seek it if they want to show a certain degree of professional competence. The Professional Researcher Certification, sometimes known as the PRC, is made available to market research analysts by the Marketing Research Association. Candidates must have at least three years of experience working in opinion and marketing research and must complete a total of twelve hours of coursework relating to the industry in order to qualify. In addition to these requirements, candidates must pass an examination. To maintain their certification, individuals are required to participate in 20 hours of continuing education classes that are directly connected to their field on a biannual basis.

How much does the median salary for a Market Research Analyst look like?

$62,560 Annual Salary

a rate of $30.08 an hour

Analysts of market research assess the current state of the market in order to forecast future sales of a product or service. They assist businesses in determining which things consumers desire, who will purchase those products, and at what price point.

What exactly are market research analysts responsible for?

The following is a typical day's work for market research analysts:

Keep an eye on current and upcoming marketing and sales trends.

Determine how successful individual marketing initiatives and techniques are.

Conceive of and conduct assessments of various strategies for the collection of data, such as polls, questionnaires, and surveys.

Collect information on customers, rival businesses, and current market circumstances.

Conduct data analysis with the help of statistical tools.

Transform difficult data and results into tables, graphs, and written reports that may be easily understood.

Create reports and provide presentations on the outcomes to both management and customers.

Market research analysts do research and collect data in order to assist businesses in marketing their goods or services. They compile information on customer demographics, preferences, and requirements, as well as purchasing patterns. They use a wide range of techniques, including as interviews, questionnaires, focus groups, market analysis surveys, public opinion polls, and literature reviews, to gather information and data.

Analysts contribute to the process of determining a company's position in the market by doing research on the company's rivals and conducting in-depth analyses of the competitors' pricing, sales, and marketing strategies. They will use this information to assess possible markets, product demand, and price based on their findings. They are able to produce advertising brochures and commercials, sales programs, and product promotions thanks to their understanding of the customer demographic that they are targeting.

Data are analyzed by market research analysts using statistical methods and other types of software. They are responsible for interpreting the data in terms of what it means for their customer, and they may also provide predictions on future trends. When presenting the findings of their study, they often create visual aids such as charts, graphs, infographics, and other such items.