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Product Analyst job description

A Product Analyst is a professional who analyzes market data to assist companies in developing marketing strategies for a product.

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June 1, 2022

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Use this Product Analyst job description to advertise your vacancies and find qualified candidates. Feel free to modify responsibilities and requirements based on your needs.

Product Analyst responsibilities include:

• Evaluating company products and comparing them against industry trends
• Developing an understanding of company products to meet the company’s current and future needs
• Providing assistance with products and rating reviews

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We are looking for a Product Analyst to join our team and assist us in recommending the best products to launch to increase profitability in our organization. 

Product Analyst responsibilities include looking at market data to determine what products to launch and interviewing customers to understand their needs. 

Ultimately, you will work with customers and various leaders in our organization to help us determine what products we should launch to maximize profitability. 

Responsibilities

• Develop and oversee small to medium scale projects
• Analyze metrics to continually improve company products
• Contribute to company operations, such as costing, inventory control, planning, and budgeting
• Assist the company in achieving short and long-term goals relating to product growth
• Work with other company departments to improve the analysis and presentation of products

Requirements and skills

• Proven work experience as a Product Analyst or similar role
• Proficient in database software
• Strong communication skills
• The ability to work under pressure and adapt to change
• Relevant training and/or certifications as a Product Analyst

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Product Analyst

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What Is a Product Analyst? How to Become One, Salary, Skills.

Product analysts employ product analytics and research to assess the performance of a new product or feature. Here’s what to know about a product analyst’s needed skills, salary and how to become one.

What Is a Product Analyst?

Product analysts are responsible for conducting product and user research as well as analyzing related data to support the product development process. They largely ensure a product is reaching the right audiences and meeting both user and business needs. Product analysts tend to be involved in the pre-launch and post-launch stages of product development. 

What Do Product Analysts Do?

Product analysts interpret quantitative product and user data to support product decisions, changes and optimizations.

Product Analyst Responsibilities

• Conduct product analysis to determine requirements for product success.
• Perform user research to understand specific audience needs.
• Interpret market research data to gauge market needs and compare competitor products.
• Develop metrics from research to track product goals during development.
• Identify product errors or usability issues.

Day-to-Day Responsibilities of Product Analysts

• Create polls, interviews and surveys to gather user feedback on product features.
• Utilize user segmentation analysis to categorize and compare product audiences.
• Use methodology frameworks like AARRR or Google’s HEART framework to define user metrics and UX needs.
• Use A/B testing tools like Adobe Target to compare product versions.
• Communicate findings and recommendations with product team and stakeholders.

Product Analysts Within a Company

Product analysts are usually part of a product or IT team within a company. They may collaborate with marketing analysts, software developers and UX designers to accomplish their work. They also tend to report to senior product analysts or product managers .

Importance of Product Analysts

Product analysts help to translate user needs into product needs, ensuring products are being created for the highest success rate possible among its audience. Without product analysts, new products may not perform, function or sell as intended upon release.

What Skills Are Needed to Be a Product Analyst?

Qualifications to be a product analyst.

• One or more years of experience in business analysis, systems analysis or similar roles.
• Ability to conduct product analysis and research.
• Ability to conduct user analysis and research. 
• Ability to directly work with and understand customers and clients.

Product Analyst Prerequisites

• Bachelor’s degree in business, economics, mathematics or a similar field.

Product Analyst Hard Skills

• Experience with project management and product development life cycles.
• Expertise in data, market and user analysis tools and techniques.
• Familiarly with feature flag management tools.
• Knowledge of customer survey tools and best practices.
• Knowledge and use of data visualization tools (Microsoft PowerPoint, Tableau).

Product Analyst Soft Skills

• Analytical thinking skills.
• Critical thinking skills.
• Problem-solving skills.
• Verbal and written communication skills.

Tools and Programs Product Analysts Use

• Adobe Analytics 
• Adobe Target 
• Google Analytics
• Quantum Metrics
• SurveyMonkey

How to Become a Product Analyst

Product analyst education and experience.

Product analyst candidates are often expected to hold a bachelor’s degree in business, economics, mathematics or a similar field.

Product analysts will need to obtain experience in business analysis, systems analysis or similar roles. Knowledge in the areas of product and user analysis, feature flagging and testing, product development, project management and effective communication are also recommended.

Product Analyst Certificates and Courses

• Complete Course on Product A/B Testing with Interview Guide
• Data Analytics 101: Business KPIs & User Metrics analysis
• Fast-start Usability Testing and UX Research
• Product Development Master Course

Product Analyst Career Path

If not starting as a product analyst, professionals may begin their career beforehand as a business analyst , data analyst , systems analyst or a similar role. After gaining experience as a product analyst, professionals can move on to be a senior product analyst or lead product analyst. From here, professionals may approach management and leadership roles like product manager, senior product manager and director of product management.

Product Analyst Salary and Job Outlook

Product analysts, grouped under market research analysts by the U.S. Bureau of Labor Statistics, are expected to see a job increase of 19 percent by 2031.

The full compensation package for a product analyst depends on a variety of factors, including but not limited to the candidate’s experience and geographic location. See below for detailed information on the average product analyst salary.

Expand Your Product Analyst Career Opportunities

Add another dimension to your skillset by taking Udemy’s online product management courses.

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Product Analyst Certifications + Programs

Open more doors for your career by securing online product management certifications with Udacity.

General Assembly’s Product Management course teaches the end-to-end product management (PM) process to a real-world scenario, from evaluating users and managing a roadmap to creating a minimum viable product (MVP) and developing metrics.

What you'll accomplish

This is a beginner-friendly program with no prerequisites, although students may have had exposure to product development concepts or be informally taking on PM responsibilities in their current role. Throughout this expert-designed program, you’ll:

• Determine key risks and assumptions of a product in order to prioritize research and discovery work.
• Validate hypotheses by gathering user feedback via MVPs, interviews, experiments, and testing.
• Execute competitive research to highlight market gaps and trends.
• Speak fluently with developers, user experience designers, and other business stakeholders about priorities, requirements, and workflow.
• Apply metrics alongside objectives and key results (OKRs) to measure a product’s success and track its life cycle.
• Apply what you’ve learned to create a portfolio project: a presentation detailing your product creation strategy.

Why General Assembly

Since 2011, General Assembly has graduated more than 40,000 students worldwide from the full time & part time courses. During the 2020 hiring shutdown, GA's students, instructors, and career coaches never lost focus, and the KPMG-validated numbers in their Outcomes report reflect it. *For students who graduated in 2020 — the peak of the pandemic — 74.4% of those who participated in GA's full-time Career Services program landed jobs within six months of graduation. General Assembly is proud of their grads + teams' relentless dedication and to see those numbers rising. Download the report here .

Your next step? Submit an application to talk to the General Assembly Admissions team

Note: reviews are referenced from Career Karma - https://careerkarma.com/schools/general-assembly

General Assembly’s Data Analytics Immersive is a transformative course designed for you to get the necessary skills for a data analyst role in three months. 

The Data Analytics bootcamp is led by instructors who are expert practitioners in their field, supported by career coaches that work with you since day one and enhanced by a career services team that is constantly in talks with employers about their tech hiring needs.

As a graduate, you’ll have a portfolio of projects that show your knowledge of data analytics skills, as well as experience with visualization tools and frameworks that employers demand. Throughout this expert-designed program, you’ll:

• Acquire, analyze, and visualize data sets in real time.
• Master industry-standard tools like SQL, Excel, Tableau, PowerBI, and Python.
• Turn data into stories that can influence and inform important decisions.
• Ask the right questions and answer them with data-informed insights.
• Demonstrate what you’ve learned with a solid professional portfolio.

Note: reviews are referenced from Career Karma - https://careerkarma.com/schools/general-assembl

Careers Related to Product Analyst

Latest product management jobs, companies hiring product analysts, most common skills for product analyst, related product management careers.

Product Analyst: Responsibilities, Skills, and Requirements

Are you aiming to become a product analyst? Or are you uncertain about the occupation but want to explore it as an option?

A product analyst needs to be able to utilize data strategically, but their job description doesn’t depend on data science degrees anymore. This change has been primarily driven by increased access to analytics tools like Userpilot that help businesses achieve product growth .

In this article, we’ll cover the responsibilities of a product analyst, the skills needed in the current job market, and the prerequisites. Let’s dive in!

• A product analyst is a professional who uses data analysis and insights to evaluate and improve the performance of a product or service.
• Product analysts research to find market trends, collect and analyze data, track and assess product performance , understand product requirements, and report insights to stakeholders.
• A product analyst needs to have the following skillsets:
• Technical skills: data analysis , data visualization, statistical analysis, and technical tools .
• Workplace skills: Critical thinking, project management, and communication skills.
• Business skills: Business analysis and business acumen.
• The latest average base salary of product analysts in the United States is $77,090 annually, with an estimated total pay of $94,308 annually.
• Here is the typical career path for product analysts:
• Junior product analyst (entry-level)
• Senior product analyst (mid-level)
• Product manager / product insights manager/data scientist (senior-level)
• There are no strict educational requirements to become a product analyst. But aspiring students are advised to study the following under a bachelor’s degree – business management, statistics, economics, or computer science.
• The recommended certifications for developing professional skills and improving hiring chances are Google Analytics Individual Qualification, Tableau Desktop Specialist, and Microsoft Certified: Data Analyst Associate.
• If you are already a product analyst, get a Userpilot demo to ensure excellent business outcomes through data collection and analysis .

What is a product analyst?

A product analyst is a professional who uses data analysis and insights to assess and improve the performance of a product or service. Product analysts track market data, collect customer feedback, identify trends, and draw inferences about users’ needs and behaviors.

What do product analysts do?

The product analyst role has evolved to encompass the elements of market research, data analysis, and product management. Product analysts are now at the core of product development. Here are the primary responsibilities you will have to take as a product analyst.

• Do market research: Market research is important to study and understand industry trends, competition, and target customer needs. You can then use the insights to find new market opportunities and contribute to product development.
• Collect and analyze data : Your day-to-day role is to use data to understand user perception of a product thoroughly. It includes collecting customer feedback, studying user interactions with the product, and analyzing responses to provide timely data insights to product teams.
• Track product performance: You need to track key product performance indicators and product metrics over its lifecycle. This will allow you to identify trends and patterns that suggest how well the product performs in the market and assess product success.
• Evaluate product performance: Based on the analysis, you have to make regular product evaluations to assess its performance against predetermined benchmarks and goals. This will enable you to find areas of improvement and suggest optimization strategies to your product manager.
• Understand product requirements: You need to collaborate with relevant stakeholders to gather documents on product requirements and convert them into product specifications or user stories. You might also have to collaborate with cross-functional teams to help develop product marketing strategies and improve the user experience.
• Prepare reports and presentations: After thorough analysis, a product analyst has to create detailed reports about the findings and prepare presentations. You’ll have to use graphs, charts, and other visuals to present data in an easy-to-understand format. Sometimes, you may also need to report to senior management to justify your recommendations.

What are the skills needed for product analysts?

Here are the essential skills you’ll want to include in your resume for the product analyst position.

Technical skills

Let’s start with the technical proficiencies you need.

• Data analysis: You must collect and analyze qualitative and quantitative data from multiple sources like user feedback and product usage. It involves working with metrics, analytics tools, and techniques to draw conclusions based on the findings.
• Data visualization: You need to create easy-to-interpret visuals, such as charts and graphs, and present them in an analytics dashboard . The visuals need to summarize the findings in detail and engage stakeholders enough to consider your data-backed insights.
• Statistical analysis: This also involves collecting, analyzing, and interpreting data. However, if you know statistical analysis, you’ll be able to identify causal relationships from data and make projections. You may also need to perform exploratory data analysis, like studying new market opportunities, and make projections.
• Technical tools: Product data collection and analytics tools like Userpilot help automate repetitive tasks and boost productivity. You may have to use a combination of data analytics tools to access all the necessary features, such as Userpilot, MS Office, and Google Analytics.

Workplace skills

Strong workplace skills are important to work successfully with your product team and climb the career ladder.

• Critical thinking: Self-serve product analytics tools have made it more important to distinguish yourself by approaching a problem and thinking analytically. Quantitative understanding, attention to detail, and great problem-solving skills are now as valued as expertise.
• Project management: Your product manager might assign you projects and even have you lead some of them. You need to meet the project criteria and exhibit leadership, organization, and collaboration skills.
• Communication skills: Both verbal and written communication skills are essential for articulating your insights and giving technical explanations. These skills are also critical for pitching your solutions to management.

Business skills

Product analysts share certain skills with business analysts.

• Business analysis: Like a business analyst, you need to collect data, identify problems or requirements, and deliver solutions. You must also conduct market research, test rival products, analyze current and prospective target customer segments, and project future growth.
• Business acumen : A modern-day product analyst should know how to interpret data, understand business processes, and apply data in practical scenarios. The solutions you offer should generate business value.

What is the salary range for product analysts?

According to Glassdoor, the latest average base salary of product analysts in the United States is $77,090 annually.

The estimated additional pay, including commission, profit sharing, cash bonuses, and tips, makes the total pay $94,308 per year. The estimated median (i.e., most likely) range of the total salary is between $76,000 and $119,000.

You may not find the ‘product analyst’ role in some job listings, but notice a few variations. Here are the average salaries for these roles:

• Junior product analyst: Base salary = $70,166/year; Total salary = $79,036
• Senior product analyst: Base salary = $86,111/year; Total salary = $107,245
• Lead product analyst: Base salary = $90,314/year; Total salary = $113,292
• Market research analyst: Base salary = $63,516/year; Total salary = $71,506

What is the career path for product analysts?

A product analyst role will allow you to gain valuable skills, expertise, and experience in product marketing and management. This opens up multiple career paths for you to advance to.

People usually begin their careers as junior product analysts. You can later be promoted to senior product analyst, followed by lead product analyst.

From there, you can advance to the product manager, product marketing manager, or product insights manager role. The product insights manager earns more on average, possibly due to their greater input of insights that influence the product.

However, you also have the option to switch to a separate branch, such as data science, and pick up the career trajectory from there.

Here are the average salaries for jobs in a product analyst’s career trajectory and related paths:

• Product manager: Base salary = $111,225/year; Total salary = $146,958
• Product insights manager: Base salary = $133,841/year; Total salary = $186,254
• Product marketing manager: Base salary = $116,940/year; Total salary = $156,109
• Product director: Base salary = $151,832/year; Total salary = $236,892
• Data scientist: Base salary = $117,648/year; Total salary = $152,257

How to become a product analyst?

Let’s go over the prerequisites for becoming a product analyst.

Education requirements

There are no strict educational requirements for the product analyst role. Nonetheless, here are the common educational paths and qualifications for your undergraduate degree.

• Business management
• Computer science
• Statistics/mathematics

It’s recommended to at least learn the practicalities of statistics and business. This can help you land better-paying jobs after graduation and gain promotions faster.

Recommended certifications

You can acquire these recommended certifications alongside your bachelor’s degree as part of the skill development process. They reinforce your knowledge of the most popular data analysis platforms, showcase your enthusiasm, and improve your hiring chances.

You can prepare for these exams via their official sites or ed-tech platforms like Coursera or Udemy.

• Google Analytics Individual Qualification: You can earn Google Analytics certification by passing this exam, which Google Skillshop offers for free.

• Tableau Desktop Specialist: Tableau offers this exam to certify your foundational understanding of Tableau Desktop.

• Microsoft Certified Data Analyst Associate : As a certified Power BI data analyst, you can work closely with stakeholders to discover business requirements.

Common tools and software

Here are some common platforms that product analysts can use or learn as part of professional development.

Data analysis and data visualization tools: The following are currently the most popular tools for storing, visually manipulating data, and creating data visuals for reporting.

• Microsoft Excel
• Google Charts
• Zoho Analytics
• Microsoft Power BI

Data collection and analysis tools: These tools allow you to collect data from multiple sources, such as website/product usage, customer feedback, and interviews. They also include automated analytics and reporting functionalities to make interpretation and presentations easier.

• Google Analytics

Coding and development tools: Although these tools are related to software development, being able to use these tools allows product analysts to collaborate with UI/UX designers to enhance the product experience.

• Integrated Development Environments (IDEs), such as Visual Studio Code, PyCharm, and RStudio

If you’re considering becoming a product analyst, you can work on honing your skills and applying to renowned companies after graduation. As a student, you can look for internships in analytics or related roles to make your resume stronger and more credible.

Are you already a product analyst or product manager? Book a Userpilot demo to see excellent improvements in your product and achieve product growth.

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What is a product analyst: Role, skills, and responsibilities

The management of a product requires multiple resources and capabilities. These capabilities differ by industry, company culture, and product types.

Not every company has a product manager — some companies manage their teams with product owners or project managers instead. These companies may have a mature product and just add new project-typed features to the main one. In products with high competition, product marketing managers and product analysts hold a lot of value because it is necessary to do research.

In this article, we will talk about the product analyst role, skills, and responsibilities. We will discuss the skills you need and how organizations can efficiently use product analysts for their product.

What is the role of a product analyst in product management?

A product analyst is a product manager’s arm in a red ocean (a market with high competition). They are masters of analyzing market needs and helping product managers create a go-to-market strategy.

Product managers are mostly active in product vision, roadmap, and delivering the features for the product. A product analyst, by contrast, researches the market and collects data to give to product managers. The PMs can then plan the product capabilities according to market needs. Product analysts and PMs work side by side to deliver the right product to the right customer base and marketplace.

Product analysts play a critical role in pushing the boundaries of the target market and customer segments . A product plan will be created with the help of a product analyst to improve the product and increase profit.

A product analyst is an inclusive role. With the data these analysts provide, an organization can create marketing, design, product plans, and product pricing. Because of this, product analysts don’t only work with product managers, but also with sales and marketing teams.

Now, when recruiting a product analyst, we need to be careful. Roles, skills, and responsibilities can be completely different for each product. I have quite a lot of experience with changing companies and products over and over 🥲

It was challenging to adapt to each product and industry but I learned a lot. I focused on things like increasing daily active users, sending marketing emails, and creating mobile marketing strategies. The management and the techniques I used were completely different for each product and industry I worked in, so it’s important to be clear about what you need from the product analyst.

What does a typical product analyst job description look like?

Let’s take a look at a typical job description and key responsibilities for a product analyst first. Then, I will continue explaining the boundaries and details of the description case by case in other sections.

Product analyst job description

This is a typical job description for a product analyst role:

“We are looking for a product analyst to join our team and help us to create better product strategies. Primarily responsible for using quantitative and qualitative analysis to drive product development and improvement, the product analyst will work closely with product managers, data scientists, engineers, and other stakeholders to optimize product performance, identify trends, and make data-driven recommendations.

As a product analyst, you should be motivated, data-oriented, and team players. You should be able to collect customer feedback, market data, and product insights to create recommendations for product go-to-market plans.”

Product analyst responsibilities

Though responsibilities may shift according to the company and product, these are the most common responsibilities for any product analyst:

• Convert product data and customer feedback into an actionable product plan
• Provide help to related product teams via data collection and analysis
• Share insights from the market and competitors to increase the product’s capability
• Share short-term and long-term product improvement areas
• Collect product metrics and competitor positions in the market regularly
• Help related teams such as product management, marketing, and sales to boost product profit, sales, and customer base
• Follow the product vision and mission for long-term data needs

Product analyst requirements

These requirements are just an example, so don’t take these to heart. This is what I’ve commonly seen, but I encourage you to apply to product analyst jobs even if you don’t meet all of these example criteria:

• Bachelor’s degree in economics, business, or any other related field
• Knowledge of the product management tools
• Proficient in data collection tools and databases, such as Microsoft Excel and Google Analytics
• Strong communication skills
• Strong presentation skills
• Ability to work under pressure
• Ability to work cross-functionally with different departments
• Time management skills
• Software knowledge is a plus
• Skills and qualifications needed to become a product analyst

If you are a person who lives and thinks with data, you have almost everything 👏

The most important skill expected from this job is analytical thinking. Presentation and communication skills can come afterward. The reports you create should have your ideas and options for other stakeholders to select within. You should be the person who comes up with results.

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As you will analyze lots of data and multiple products, you should have excellent time management skills (which can be learned as well 🙂).

For the qualifications part, you should at least know data software, such as Microsoft Office products. Some companies may expect you to have analyst certifications — you can check Product School, Mixpanel, Kellogg School of Management, and The Product Folks websites for these.

The importance of hiring a product analyst in an organization

Organizations with multiple products and markets with different competitors should hire a product analyst. It’s vital to have a team member dedicated to reviewing competitors , market trends, and product metrics continuously to guide decisions. Product analysts can work with multiple teams at the same time. They can share quantitative product data that will help place the product inside the market and increase profit.

Product analysts can also exist in a separate team within the organization so they can stay unbiased and look from a wider perspective. As the example job requirements point out, they should have strong analytical thinking capabilities. With the reviewed market data, the business can expect them to provide ideas on which product to produce or simply create go-to-market plans based on priorities.

Organizations that produce lots of products or compete with strong competitors should consider hiring a product analyst, as it’s beneficial to have someone who focuses on the numbers and informs the organization based on that data.

Product analyst vs. business analyst

Many people confuse product analysts with business analysts. The two roles have different roles and responsibilities along with their own qualifications and skills.

A business analyst is a person who represents the company to the customers. They collect customer requirements and help to define actions, requirements, and designs. They are responsible for bridging stakeholders and understanding their struggles.

A business analyst often does not have to analyze the market, offer a new market, or product idea and analyze the product data. Yes, both are analysts of the product and have a common goal to improve the product.

Lastly, both of them can be placed inside the product team structure to feed them with data, information, and ideas. They can work closely to increase product metrics and help the product team with long-term decisions.

Companies tend to mix needs into one role when it comes to product management. As a candidate or recruiter, you should be aware of what you are looking for.

Only under the right conditions and light can you shine, do not force yourselves otherwise. Seek and find the correct job that fits your skill set. I hope you all find the right job that makes you happy 🤗

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2 Replies to "What is a product analyst: Role, skills, and responsibilities"

I agree that the management of a product requires multiple resources and capabilities. These capabilities differ by industry, company culture, and product types

Your website is very excellent. I am quite pleased with the information on this page. It reveals your distinct perspective on the situation.

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Table of Contents

What is a product analyst, key responsibilities of a product analyst, skills required for a product analyst, salary outlook for product analysts, product analyst job description: responsibilities, skills, and salary.

The emergence of the job role of a Product Analyst can be attributed to the evolving nature of businesses and the increasing importance placed on understanding customer needs and market trends. As companies began to realize the significance of delivering products that align with customer expectations, the need for professionals who could bridge the gap between business strategy, market research, and product development became evident. 

This led to the creation of the Product Analyst role, which combines elements of market research, data analysis, and product management. The job role evolved to encompass responsibilities such as gathering and analyzing customer feedback, conducting market research, identifying product requirements, and collaborating with cross-functional teams to ensure the successful development and launch of products that meet customer needs. As businesses continue to prioritize customer-centric approaches, the role of a Product Analyst has become increasingly important in driving product innovation and success.

A Product Analyst is a professional who plays a crucial role in the development and enhancement of products or services. Their primary responsibility is to gather and analyze data related to customer needs, market trends, and business objectives. With a deep understanding of both the product and its target market, a Product Analyst collaborates with cross-functional teams to identify requirements, define product features, and prioritize development efforts. 

They conduct market research, competitive analysis, and user feedback analysis to inform product strategy and decision-making. Additionally, Product Analysts may assist in creating product roadmaps, defining user stories, and supporting product launches and iterations. Overall, a Product Analyst serves as a bridge between stakeholders, development teams, and customers, ensuring that the product aligns with user needs and business goals.

The key responsibilities of a Product Analyst includes;

1. Data Analysis

• Gather and analyze data from various sources to extract actionable insights.
• Use statistical techniques and data visualization to interpret trends and patterns.
• Identify opportunities for product improvements based on data analysis.

2. Product Performance Evaluation

• Monitor key product metrics and performance indicators.
• Conduct regular evaluations to assess product performance against goals and benchmarks.
• Identify areas of improvement and recommend strategies for optimization.

3. Market Research

• Conduct market research to understand industry trends, customer needs, and competitive landscape.
• Analyze market data and customer feedback to identify market opportunities.
• Provide insights on target market segments and potential customer segments.

4. User Experience Enhancement

• Collaborate with UX/UI designers to improve the user experience of the product.
• Conduct user research, interviews, and usability testing to gather feedback on product usability and satisfaction.
• Recommend enhancements and features to improve user experience.

5. Requirement Gathering

• Collaborate with stakeholders to gather and document product requirements.
• Conduct interviews, workshops, and surveys to understand user and business needs.
• Translate requirements into clear and actionable user stories or product specifications.

6. A/B Testing

• Plan, execute, and analyze A/B tests to evaluate the impact of changes or new features.
• Use data from A/B tests to make data-driven decisions and optimize the product.

7. Reporting and Presentation

• Prepare reports and presentations to communicate insights, findings, and recommendations.
• Present data analysis and product performance evaluations to stakeholders and cross-functional teams.
• Clearly articulate complex concepts in a concise and understandable manner.

1. Technical Skills

• Data Analysis: Proficiency in using analytical tools and techniques to gather, analyze, and interpret data.
• Market Research: Knowledge of market research methodologies, including data collection, analysis, and competitor analysis.
• Product Management Tools : Familiarity with product management tools such as Jira, Trello, or Asana to manage product backlogs, roadmaps, and user stories.
• User Experience (UX) Design: Understanding of UX principles and the ability to work closely with designers to enhance the user experience of the product.
• A/B Testing: Experience in planning, executing, and analyzing A/B tests to measure the impact of product changes.
• SQL and Database Knowledge: Proficiency in SQL to extract and analyze data from databases.

2. Workplace Skills

• Communication : Strong verbal and written communication skills to effectively collaborate with stakeholders, present findings, and document requirements.
• Problem-Solving: Ability to identify problems, gather relevant information, and propose practical solutions to improve product performance and user experience.
• Critical Thinking: Capacity to think analytically, assess situations, and make data-driven decisions.
• Stakeholder Management: Skill in managing relationships with stakeholders, understanding their needs, and balancing competing priorities.
• Teamwork and Collaboration: Ability to work collaboratively with cross-functional teams, including product managers, designers, developers, and marketers.
• Adaptability: Flexibility to navigate in a dynamic and fast-paced work environment, adjusting priorities as needed.
• Attention to Detail: Strong attention to detail to ensure accuracy and precision in data analysis, documentation, and requirement gathering.

Become a Data Science & Business Analytics Professional

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The salary outlook for Product Analysts can vary depending on factors such as location, industry, experience level, and company size. However, Product Analysts generally receive competitive compensation due to the specialized skills and responsibilities associated with their role.

Salary of a Product Analyst in the US

In the United States, according to Glassdoor, the average annual salary of a Product Analyst is over $73,000 annually. The salary can be influenced by factors such as the location (with metropolitan areas often offering higher salaries), the industry (technology and finance sectors tend to have higher compensation), and the candidate's level of experience and expertise. The average annual salary of a Product Analyst in other cities of US includes;

• California - over $92,000  
• San Francisco - over $81,000 
• New York - over $91,000
• Boston - over $78,000
• Seattle - over $78,000
• Chicago - over $88,000
• Texas - over $84,000

Salary of a Product Analyst in India

• Mumbai - over ₹8.5 Lakhs
• Bangalore - over ₹12 Lakhs
• Delhi - over ₹11 Lakhs
• Chennai - over ₹7 Lakhs
• Hyderabad - over ₹ 8.6 Lakhs

Average Annual Salary of a Product Analysts in Other Countries

• Australia - over $90,000  
• France - over €50,000 
• Italy - over €42,000 
• UK - over £48,000
• Germany - over €50,000

Data Science & Business Analytics Courses Duration and Fees

Data Science & Business Analytics programs typically range from a few weeks to several months, with fees varying based on program and institution.

Learn from Industry Experts with free Masterclasses

Data science & business analytics.

Develop Your Data Analytics Career with the IIT Kanpur Professional Certificate Program

How to Use ChatGPT & Excel For Data Analytics in 2024

Unleash Your 2024 Data Analytics Career with IIT Kanpur

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The Rise of the Data-Driven Professional: 6 Non-Data Roles That Need Data Analytics Skills

Introducing Professional Certificate Program in Data Analytics

What is Data Analytics and its Future Scope in 2024

Data Analytics Basics: A Beginner’s Guide

Emerging Challenges that Create New Opportunities for Data Analytics Professionals

Data Analytics with Python: Use Case Demo

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• Job Descriptions
• Marketing and Communications Job Descriptions

Product Analyst Job Description

Product analysts analyze market data to assist companies in developing marketing strategies for a product. They make comparisons between a company’s product and industry trends to ensure that a product is suitable and profitable.

Product Analyst Job Description Template

We are looking for a motivated and energetic product analyst to assist us in recommending the best products and launch strategies to increase company profitability. The product analyst responsibilities include working closely with different departments within the company, analyzing product data to make product recommendations, interviewing customers to receive customer feedback, and compiling product data. You should be able to study products on the market in order to create a better product.

To be successful as a product analyst, you should be able to monitor product performance on the market to meet or exceed sales forecasts. A top-performing product analyst is able to ensure that product costs remain within company budgets.

Product Analyst Responsibilities:

• Evaluate the company products and compare them against industry trends.
• Develop an understanding of company products to meet the company's current and future needs.
• Provide assistance with product and rating reviews.
• Develop and oversee small to medium scale projects.
• Analyze metrics to continually improve company products.
• Contribute to company operations, such as costing, inventory control, planning, and budgeting.
• Assist the company in achieving short and long-term goals relating to product growth.
• Work with other company departments to improve the analysis and presentation of products.

Product Analyst Requirements:

• Bachelor’s degree in business, economics, mathematics or any related field.
• Previous product analysis experience.
• Extensive knowledge of Microsoft Office Suite (Outlook, Excel, Word, Powerpoint) is preferred.
• Proficient in database software.
• Strong communication skills.
• The ability to work under pressure and adapt to change.
• The ability to balance customer needs against the company’s vision.
• Excellent time management skills.

Related Articles:

Product analyst interview questions, product manager job description, product manager interview questions, marketing specialist job description, marketing specialist interview questions.

Product Analyst Job Description [Updated for 2024]

In the era of digital transformation, the role of product analysts is becoming increasingly critical.

As business strategies become more data-driven, there is a growing demand for sharp minds who can scrutinize, interpret, and leverage data to optimize product performance and drive business growth.

But what does a product analyst truly do?

Whether you are:

• A job seeker trying to understand the depth of this role,
• A hiring manager looking to define the perfect candidate,
• Or simply curious about the dynamics of product analysis,

You’ve come to the right place.

Today, we present a customizable product analyst job description template, designed for convenient posting on job boards or career sites.

Let’s dive right into it.

Product Analyst Duties and Responsibilities

Product Analysts are responsible for evaluating and determining the market for a particular product, and how the company can profit from it.

They are typically involved in creating strategies to increase product sales.

Their duties and responsibilities include:

• Conducting market research to understand the competitive landscape and customer preferences
• Analysing data to identify potential improvements in product features and functionalities
• Working closely with the product development team to ensure products meet customer needs and expectations
• Assessing the financial impact of product changes
• Developing and implementing product strategies and plans
• Creating reports and presentations to communicate findings to stakeholders
• Monitoring and predicting sales and trends
• Collaborating with sales and marketing teams to develop effective product marketing strategies
• Evaluating product performance and forecasting product demand
• Providing insights to help guide product development and updates
• Engaging in problem-solving efforts related to product development and marketing

Product Analyst Job Description Template

We are searching for a dedicated Product Analyst to join our team.

In this role, you will be required to study product performance, conduct market research, collect data, develop improvement strategies, and present findings to the management team.

Our ideal candidate has a strong understanding of business needs, market trends, and the ability to analyze data and make recommendations for product enhancements.

Ultimately, a successful Product Analyst should have excellent analytical skills and deliver insights that enable us to maintain a competitive edge in the market.

Responsibilities

• Analyze product data to develop insights on product performance, market trends, and customer behaviors
• Collaborate with product managers and developers to influence product strategies
• Perform competitive analysis and conduct market research
• Identify product improvement opportunities and make recommendations based on research
• Coordinate with cross-functional teams to implement product changes
• Create comprehensive reports and present findings to management
• Monitor and forecast sales and market trends
• Measure the effectiveness of product features and releases

Qualifications

• Proven experience as a Product Analyst or similar role
• Strong analytical and problem-solving skills
• Experience with data analysis tools and methodologies
• Understanding of market research and competitive analysis
• Knowledge of product development and management principles
• Excellent communication and presentation skills
• BSc degree in Business Administration, Marketing, Computer Science, or relevant field
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

Additional Information

• Job Title: Product Analyst
• Work Environment: Office setting with options for remote work. Some travel may be required for market research or team meetings.
• Reporting Structure: Reports to the Product Manager or Director of Product Management.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $70,000 minimum to $110,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

What Does a Product Analyst Do?

Product Analysts play a crucial role in the business development department of a company.

They work across industries, ranging from IT firms to retail businesses.

They collect and analyze data related to the company’s product performance, customer feedback, market trends, and competitor activities.

They use their insights to make recommendations for product enhancements, pricing strategies, market segmentation, and promotional activities.

Product Analysts are responsible for creating detailed product reports that help the management team understand the product’s position in the market and make informed decisions.

They also work closely with the product management, sales, and marketing teams to ensure that the product meets customer expectations and contributes to the overall business growth.

In addition, Product Analysts might conduct customer interviews or surveys to gather data about user experience, product usability, and customer satisfaction.

They use these insights to suggest product improvements or new features.

The role of a Product Analyst is not just limited to data analysis.

They also play a role in the product development process by sharing their findings with the product design and development teams to ensure the product meets market needs and stays competitive.

Product Analyst Qualifications and Skills

A proficient Product Analyst should possess a mix of technical skills, analytical abilities, and business acumen, including:

• Strong analytical skills to understand, interpret and derive insights from complex data
• Technical skills to use various data analysis tools and software like SQL, Tableau, and Excel
• Excellent communication skills to effectively convey insights from data to stakeholders, as well as understand their requirements
• Problem-solving skills to identify issues in product performance and propose solutions
• Project management skills to oversee and manage multiple projects simultaneously
• Attention to detail for examining data and drawing accurate conclusions
• Knowledge of product life cycle and understanding of market trends to provide relevant product insights
• Customer-centric approach to identify and fulfil customer needs effectively
• Understanding of business operations, strategies, and goals to align product performance analysis accordingly

Product Analyst Experience Requirements

Product Analysts are typically required to have a minimum of 1-2 years of experience in a similar role, often through an internship or a part-time role in product development or analysis.

This experience helps them develop a deep understanding of product life cycles, industry trends, and customer behavior.

They should also have experience with data analysis tools and software such as SQL, Excel, or Tableau.

Familiarity with Agile or Scrum methodologies is often sought after, as well as experience with product management software such as Jira or Trello.

Candidates with 3-5 years of experience have often honed their skills in gathering and interpreting data, preparing reports, and making recommendations based on their findings.

They may also have experience working closely with product managers, developers, and marketing teams to influence product strategy and direction.

Those with more than 5 years of experience often have a strong background in project management, strategic decision-making, and team leadership.

They may be ready for a senior Product Analyst role or a managerial position, as they possess the necessary technical knowledge and have developed the strategic thinking needed to drive product success.

Product Analyst Education and Training Requirements

Product Analysts typically hold a bachelor’s degree in business, economics, statistics, or a related field.

A strong understanding of data analysis is a core requirement, and as such, coursework in statistics, data science, and data visualization is highly beneficial.

Product Analysts need to have a solid understanding of market research and business strategy.

Many employers prefer candidates with a master’s degree in business administration (MBA) or a related field.

Proficiency in data analysis software and tools, such as SQL, Tableau, or Excel is also necessary, and some positions may require knowledge of programming languages like Python or R.

Certifications in data analysis, project management, or related fields may enhance job prospects.

In addition to formal education and technical skills, Product Analysts should also demonstrate strong problem-solving abilities, excellent communication skills, and a keen business acumen.

Continuing education and professional development opportunities, such as workshops and seminars, are also recommended to stay updated with the latest analytical tools and business trends.

Product Analyst Salary Expectations

A Product Analyst typically earns an average salary of $70,750 (USD) per year.

This compensation may fluctuate depending on the individual’s experience, educational qualifications, the size and type of the company, and the cost of living in the geographical location.

Product Analyst Job Description FAQs

What skills does a product analyst need.

A Product Analyst should possess strong analytical skills, including a deep understanding of how to interpret customer business needs and translate them into application and operational requirements.

They should have excellent verbal and written communication skills, as well as the ability to interact professionally with a diverse group of stakeholders.

A strong understanding of data analysis tools and experience in product management are also beneficial.

Do Product Analysts need a degree?

While it’s not always necessary, most Product Analysts typically hold a bachelor’s degree in business, marketing, computer science, or a related field.

A master’s degree may also be beneficial for advancement in the field.

Relevant work experience, especially in product management or data analysis, is often just as important as formal education.

What should you look for in a Product Analyst resume?

A good resume for a Product Analyst position should show strong analytical skills and a deep understanding of product lifecycle management.

They should have experience with data analysis tools and software, and a proven track record of utilizing data-driven insights to drive product development and improvement.

Additionally, look for strong communication skills and the ability to work well in a team environment.

What qualities make a good Product Analyst?

A good Product Analyst is naturally curious, detail-oriented, and has a strong passion for understanding and improving products.

They should have the ability to analyze large amounts of data and use it to provide actionable insights.

They should also be able to communicate complex ideas effectively to different stakeholders.

A good Product Analyst also takes initiative, is results-driven, and has a customer-centric mindset.

What is the career progression for a Product Analyst?

Product Analysts can progress in their careers by moving into senior or lead analyst roles, where they oversee the work of a team of analysts.

They may also choose to specialize in a particular product area or industry.

With enough experience and expertise, they might move into product management or executive roles, such as Product Manager or Director of Product Development.

So, there you have it.

Today, we’ve unveiled the intricacies and inner workings of what being a product analyst truly entails.

Surprising revelation?

It’s not solely about crunching numbers and interpreting data.

It’s about shaping the business landscape, one data-driven decision at a time.

With our handy product analyst job description template and real-world instances, you’re ready to make your move.

But why put a halt there?

Venture further with our job description generator . It’s your stepping stone to precision-crafted job listings or perfecting your resume down to the finest detail.

Each data analysis is a piece of a larger puzzle.

Let’s shape that business future. Together.

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How to Become a Product Analyst (Complete Guide)

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The Editorial Team at InterviewGuy.com is composed of certified interview coaches, seasoned HR professionals, and industry insiders. With decades of collective expertise and access to an unparalleled database of interview questions, we are dedicated to empowering job seekers. Our content meets real-time industry demands, ensuring readers receive timely, accurate, and actionable advice. We value our readers' insights and encourage feedback, corrections, and questions to maintain the highest level of accuracy and relevance.

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Instant insights, infinite possibilities

• What is a product analyst?

Last updated

25 June 2023

Reviewed by

Miroslav Damyanov

These skills are in great demand because having a predetermined roadmap when considering product or service integration with consumers saves businesses time and money.

Learn what product analytics is and how a product analyst converts data such as usage metrics, customer feedback, testing results, and sales figures into improved product and service performance in the marketplace. 

Find out how to become a product analyst, what responsibilities a product analyst requires, and why businesses can’t perform as well without them.

• What is product analytics?

If a company has a great product idea, it's not enough to rely on that alone. The product will likely fail in the market without testing it with the target audience to determine if it addresses a pressing problem.

Additionally, if the product is launched without gathering sufficient customer feedback, the expenses incurred in its design and development may go to waste. Therefore, leveraging customer data is crucial for creating useful and valuable products. 

This is where product analytics comes into play, enabling the design, development, modification, and enhancement of products and services. This is particularly true for websites and digital products, where measuring key performance indicators (KPIs) and conducting tests can improve customer experience and business outcomes.

A product analyst is a person who contributes to every stage of product development by using market research techniques. This is to collect customer feedback before a product launch or when analyzing sales trends and product usage data once the product is on the market. 

The information and insights a product analyst gathers can influence decisions on whether to allocate time and effort for a particular product or the considered added features.

A product analyst can also gather data that can influence decisions about products already on the market. Products that aren't selling well or need improvement can be unveiled by collecting information on customer’s reactions to the product.

Product analysts' skills are not just limited to tangible products and services. They can also contribute to website user experience designs. Product analysts can help designers create websites or applications for businesses that want to enhance and improve users' efficiency and experience when using their digital products to increase revenue.

Product analyst vs. business analyst

While product analyst jobs solely focus on how a product affects a business's bottom line, business analysts examine data to identify issues in all parts of a company, such as human resources, IT, or business operations. Once the business analyst identifies the problems in any of these departments, they will recommend solutions.

The difference between a product analyst and a product manager

Product analysts supply product managers with strategic data that the latter will follow in the product's design, development, and manufacturing processes. Product managers conduct each product phase's logistical and tactical planning to bring the product to market.

The product manager is in charge of technological innovation and will determine how the product will function and what features it will contain. The product analyst will research to determine if customers will respond positively to the product functions and features under consideration. They will then produce data to help the product manager adjust the design if necessary.

Is a product analyst the same as a data analyst?

Data analysts is a generic term for those that collect, organize, and analyze data. However, this position can fall under any company department, such as marketing, finance, HR, sales, and business operations. Product analysts collect, organize, and analyze data, but the information is focused solely on the products the company sells and how they relate to its bottom line. 

What do your users really want?

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• What are some product analyst responsibilities?

A product analyst's job description is similar to a data scientist's. They have to collect information through various methods, examine the data, and present conclusions based on the knowledge gained from the analysis process. 

Some responsibilities of a product analyst include conducting research and tracking metrics while analyzing what was collected and drawing conclusions.  

Conduct user research

First, a product analyst has to gather the data to be analyzed. The product analyst must be adept at formulating and conducting methods to produce usable results. They can collect the information through carefully designed processes, including:

Product analytics

Quantitative usability testing (benchmarking)

Card sorting

The selection of the people asked to participate in these data collection processes is just as important as the processes themselves. The product analyst needs to comprehend the product and identify the market segment that best suits the product's target audience.

Tracking product metrics

Creating experiments, taking measurements, and assessing the results are ways to track product metrics. The product analyst will want to measure metrics such as:

Acquisition

Monetization

Lifetime value

These are stages within a customer's lifecycle with the goal of steady monetization or revenue. For instance, the product analyst might be interested in understanding the reasons behind customers' decision to purchase the product during the acquisition phase but not continuing to the activation stage, where they recognize its value, leading to potential loyalty.

By making changes related to pricing or availability, the product analyst can see if more customers transition from the acquisition to the activation stage more readily or if the changes have no effect.

Analyzing user data

Once the product analyst has gathered data through user research and product metrics , it's time to sit down and analyze the data. The product analyst must make sense of quantitative data , such as statistics, percentages, calculations, or measurements, and the non-numerical or qualitative data collected.

Identifying areas of improvement

When the data is analyzed, the product analyst will produce conclusions based on the analysis and inform the product manager if they should spend more money or time on a product or make changes to improve it. The efforts of the product analyst should result in a product becoming more competitive and profitable.

• Product analyst skills

Knowing how to conduct research that will produce accurate results and guide a product's course is a critical skill a product analyst can have. Becoming proficient at research methods that accurately depict the product's performance in the marketplace is a skill that will substantially increase the cost-effectiveness of product production.

Some other helpful skills include: 

Understanding consumer behavior

Being able to work with large datasets and understand statistical analysis

Know how the product development process works

Have problem-solving skills

Collaboration in a cross-functional team

You'll also need communication skills to present to the population in your user research what is expected of them as they go through the designed process. Communication skills can also be helpful when explaining results to other team members so that they understand the product strategy they should embark on.

• How to become a product analyst

A product analyst usually needs a bachelor's degree in market research , business, communications, economics, or social sciences. However, some employers may require or prefer that a job candidate also have a master's degree in business administration. 

Courses in statistics, research methods, marketing, economics, consumer behavior , communications, and social sciences are helpful in learning product analyst skills. Once you have completed your degree, you can start as an assistant product analyst, working with more experienced product analysts.

You can also start as a junior product development team member in product or project management departments. Starting on the product development team will help you understand the product development process that you'll need to know when analyzing data from consumers and tracking product metrics.

• Do product analysts require coding?

When dealing with mounds of raw data, you may need help mining it to identify patterns and extract useful information. The knowledge of programming languages can help when analyzing data and include:

You'll need these programming languages to digitally prepare the data, build models, and evaluate the data to understand results better. You'll need an understanding of programming languages to use algorithms and other techniques to convert a significant amount of collected data into a usable output. 

• How much does a product analyst make?
• Product analysts save significant costs for businesses

Product analysts play a crucial role in ensuring the cost-effectiveness of product development within a company. They can enhance their effectiveness by skillfully designing user research methods , acquiring programming language proficiency to analyze data more efficiently, and identifying opportunities for improvement. This enables the products to generate maximum revenue and achieve significant cost savings for the company.

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How to Become a Product Analyst: Skills, Requirements, and Career Guide

Product analysis is a critical aspect of product development and success in today's business landscape. If you have a passion for analyzing data, identifying user needs, and finding innovative solutions, becoming a product analyst may be the perfect career choice for you.

In this comprehensive career guide, we will explore the skills and requirements necessary to launch a successful career in product analysis, including the latest tools, methodologies, and techniques used by product analysts. We'll also provide valuable insights into career advancement opportunities and how to position yourself for success in this exciting and rapidly evolving field. Whether you're just starting your career or looking to take your product analysis skills to the next level, this guide will provide valuable insights into this in-demand field.

What is a Product Analyst?

Product analysts use data to inform decisions about digital products and their features. They gather and visualize data, then use their critical thinking skills to put together and tell “data stories,” for team members and leadership. Data stories work to answer particular questions around product performance, and often uncover several insights and recommendations for improvements . These insights are all backed by data, and incredibly valuable to their employers to help determine prioritization of resources and success of new programs. To gather data, product analysts use tools like Google Analytics, Heap or Amplitude. These platforms allow for highly customizable dashboard creation, and allows analysts to actively monitor and analyze stats like website traffic, order conversion rates or products viewed. Another extremely important role of a product analyst is identifying key performance indicators (commonly referred to as KPIs, or sometimes OKRs) to measure the success of changes being made on the website or application. Product analysts track things such as a redesign to a popular page on a website, and how that affected product views and orders. ‍ A very common theme of this role is the importance of A/B testing , which is where the statistics job requirement often comes into play. Product analysts are in charge of keeping track of the metrics used to measure website changes in a controlled environment, and reporting on results to their teams. Product analytics is a great entry-level field into a technical role (which are often remote!), and often leads to becoming a product manager or user experience manager. If you’re technically savvy or inclined towards numbers, read on!

Curious what we mean when we say "product?" Read This.

Responsibilities of a Product Analyst

What does a product analyst do.

Product analysts spend a bulk of their day monitoring data, looking for any friction a user may have on their product, and presenting insights and recommendations to team members. A product analyst's day is broken primarily into two parts: ‍ 1- trendline monitoring   2- exploring for fixes Trendline monitoring is watching product metrics to make sure there are no bugs or abnormalities with user behavior. This is often done by monitoring some basic metrics (learn more about metrics here). Often a product analyst will keep tabs on things like how many users add to cart that week, or general people who view a page. If this drastically changes, it’s the analyst’s job to alert the team. Exploring for fixes is the meat of the product analyst role. This often involves diving deep into a particular question and trying to find trends, such as “what’s the most popular path taken before ordering on our site?” or “why do our users make it to a certain page then leave?” From there, the product analyst is encouraged to craft up hypotheses that the product manager can work with UX designers and engineers to solve.

Product Analyst Team Members

If you're unsure that product analytics is right for you because of the math, or whatever issue, check out the roles of a UX Designer , UX Researcher , Project Manager , or even a Product Manager , and maybe even get a little freaky and look at a frontend engineer.

Education Requirements

Do i need a degree to become a product analyst.

While this role seems more technical, product analysts can come from all backgrounds. Job descriptions will often mention a requirement of something STEM related, but often psychology majors do well here because they’re able to understand the “why” behind user interactions. This is also a popular bootcamp role. Some great experiences for aspiring analysts:

• STEM majors- anything math, science, or technology related
• Academia - Psychology or Sociology Degrees
• Data entry or receptionist roles

If you're new here to bridged, we're glad to meet you! We are huge fans of alternate forms of education, and recommend specific certifications to target skills. While this job works great with degrees, you have other options. Learn more here.

Do Product Analysts need to know how to code?

Analytics is often associated with coding, including SQL or Python to access huge swaths of data stored in warehouses. However, this is incredibly company dependent, and often product analysts are not required to code. ‍ Most popular web analytics tools -- Google & Adobe Analytics, Amplitude, Heap and others do not require programming to access data and have an intuitive user interfaces. If a company is requiring "coding" or "programming," it may be worthwhile to ask about the reason in an interview. If they have lots of data only accessible by warehouse, this may be more of a data scientist role! One of the main distinctions between product analytics and data science is the ability to code-- and data scientists are paid better for it. Don't be fooled into doing data science for lower pay!

Our Favorite Product Analyst Certifications

Data analytics with google.

Google sponsors a data analytics certificate program through Coursera. This is one of the more coveted certificates in the industry for Google Analytics.

Data Visualization with Tableau

UC Davis teaches a class in Tableau to manipulate and visualize data. It's included with a Coursera subscription ($49/month) and has a rating of 4.5 stars with almost 6 thousand reviews.

Analytics for Decision Making

This is a newer beginner-level class that has a great overview of types of analytics, and when to use each method to maximize effectiveness.

Salary and Career Potential

What is a Product Analyst's salary?

We've aggregated thousands of salaries across glassdoor and linkedin, and product analysts can make anywhere between 75k - 98k, depending on their location and skillsets.

Career Path of a Product Analyst

• Product Analyst, or Associate Product Analyst: Spend about 2-4 years at each level here.
• Senior Product Analyst : Spend about 3-5 years here.
• Analytics Manager (or Product Manager) : Spend about 5-10 years here.
• Director of Analytics : This one is tricky, but most folks spend roughly 4-6 years here.

Job Requirements and Skills

Popular job description of a product analyst.

We've used AI to aggregate the top job descriptions used by hiring managers looking for product analysts. When putting your resume together, try to mimic these listings. To learn more about this process, check out our partner Jobscan for a comprehensive resume review.

• Conduct quantitative and qualitative user research and analysis to identify customer needs, trends, and opportunities
• Analyze user behavior data and product metrics to identify areas for improvement and optimize product performance
• Develop and deliver reports, dashboards, and visualizations to communicate insights and trends to stakeholders
• Collaborate with product managers and designers to define product requirements and specifications based on research findings
• Work with engineering teams to implement data tracking and reporting tools to improve data quality and accessibility
• Continuously monitor and evaluate product performance, and provide recommendations for improvement

Top Technical Skills of a Product Analyst

We've compiled thousands of job descriptions for product analysts to record the most common requirements to save you time. While preparing for interviews, keep in mind specific times you've demonstrated these skills.

• Strong analytical skills with experience in statistical analysis and data visualization tools
• Knowledge of SQL and experience with data analysis tools such as Excel, Tableau, or Power BI
• Knowledge of product analytics tools like Google Analytics, Amplitude, Adobe Analytics, or Mixpanel.
• Use of data to inform prioritization of team and company actions
• Experience with AB Testing + statistical programming
• User survey and interview design
• Design compelling data visualizations to showcase findings

Top Functional Skills of a Product Analyst

We recommend getting familiar with different types of customer questions if you plan to pursue a career in product analytics. If finding these answers seems interesting to you, read on!

• Knowledge of qualitative and quantitative research methods
• Develop hypotheses for testing prioritization
• Craft and tell compelling data stories
• Gathering and utilizing data to create strategic product decisions
• Excellent communication skills, with the ability to collaborate with cross-functional teams and product managers.
• Strong analytical, problem-solving, and critical thinking skills
• Familiarity with product management principles and the product development lifecycle
• A passion for innovation and a desire to solve complex problems with data-driven insights

Top Tools of a Product Analyst

We've also compiled the most common tools listed in job description. If you're serious about becoming a product analyst, get familiar with these and be ready to talk about them.

For Gathering Quantitative Data

• Google Analytics
• Adobe Analytics

For Gathering Qualitative Data

• Usertesting.com

For Aggregating Data

• Excel/Google Sheets

For Task Management

Key traits of a successful product analyst.

Analytics Platforms - This goes hand in hand with quantitative research. You have to pull the data from somewhere!

Qualitative & Quantitative Research - To be effective in quantitative research, product analysts need to be proficient in using analytics platforms such as Google Analytics, Mixpanel, or Amplitude. They should be able to extract insights from data and use them to inform product decisions.

Basic Mathematics & Statistics - While this might sound intimidating, a solid foundation in basic math and statistics is crucial for a product analyst. Being able to work with percentages, understand trends, and use statistics to support their insights are all key skills.

Curiosity - Product analysts need to have a natural curiosity and a passion for data. They should be able to find joy in sifting through structured and unstructured data sources to identify friction points and trends that can inform product decisions.

Analytics Platforms - To be effective in quantitative research, product managers need to be proficient in using analytics platforms such as Google Analytics, Mixpanel, or Amplitude. They need to be able to extract insights from data, and use those insights to inform product decisions.

Data Storytelling - Product analysts need to be able to craft a story with their data. They should be able to tell the when/what/where/how about the users on their site, and present the information in a way that makes it easy for others to understand.

Data Visualization - The ability to present and visualize data is key for product analysts. They should be able to use charts, graphs, and other visualizations to communicate results of their analyses to stakeholders and other teams.

Get Product Analytics Experience

Key takeaways: a product analyst uses web tools to find, gather, and organize data to help teammates and colleagues make decisions about the business . Product analysts focus strictly on a website or application, and how customers interact with it, which makes them different from marketing or operations analysts. Learning on the job is one of the fastest ways to get familiar with new topics, and showing is much better than telling. Use a website creator to write about something you're passionate about, and use Youtube videos or our recommended classes to learn how to implement free Google Analytics and Google Tag Manager. Then monitor your data! Think about what paths you'd expect users to take while engaging with your content and write about why. Congrats! You've written your first data story. This is great content for a mini"portfolio" to talk about on interviews. Expert mode: find a local business to trade work for-- maybe you throw up GA & GTM, they give you a meal., and you can give them a few insights to improve their user experience. Win, Win, Win.

Some popular product analytics questions:

• How are users interacting with the site?
• What page are users leaving the site?
• What's the most common path to conversion for users?

My Experience with Product Analytics

I actually started my entire career in product analytics, and I can't recommend it enough as a fantastic entry point for tech folks and aspiring product managers alike. AB testing (and experience optimization) is one of the most valuable skills someone in tech can have, and I was lucky to begin my career at an agency that specialized in it. My colleagues in analytics came from a range of backgrounds, including both journalism and psychology, which gave them unique abilities to craft compelling stories and analyze user behavior. I can't emphasize enough how much I love this field!

While analytics may seem intimidating to some, it's actually a great fit for anyone with strong critical thinking skills. And, as I've learned, transition roles can often be a valuable stepping stone to your dream job. So, if you're looking to break into the world of product management, or just tech in general, don't overlook the exciting and rewarding opportunities that analytics can offer.

Role Differentiators

Difference between product analyst and marketing analyst.

While both roles often work with the same platforms to gather and aggregate data, these two titles are very different in regard to what they focus on. In larger companies, these roles often live in entirely different departments as the names suggest, Product and Marketing. Marketing Analysts focus on the best ways to attract users and potential customers to the site. They specialize in breaking down different customer acquisition channels like SEO (search engine marketing, meaning organic google or bing), paid search (google or bing sponsored ads), or paid media and tracking traffic levels and performance. Learn about the different types of marketing traffic here. ‍ Once a user is on the site, often from the optimization efforts of the marketing analyst, the user is passed along to the . Product analysts focus strictly on a website or application, and how customers interact with it. The primarily role of a product analyst is increasing site metrics like order conversion or product views. To recap: a marketing analyst is responsible for analyzing and improving the ways at which a customer accesses the product, while a product analyst is in charge of making sure that customer completes the product's desired actions once acquired .

Difference between Product Analyst and Data Analyst

"Data analyst" is a very broad category of jobs, which includes product, marketing, business and operations. Product is a specialization within data analytics. So while all product analysts are data analysts, NOT all data analysts are product analysts. ‍ To recap: a product analyst is a specialization within data analytics. Learn about the different types of data analysts here.

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Being a product analyst is a great entry-level way to get experience with several product verticals without the weight of being a product manager. It's also a great way to break into a tech career in product because it's lesser-known, so the roles get less applicants.

Here at Bridged we are huge fans of stacking micro-certifications to achieve desired career results. We're building a product to make your career planning fun and affordable, and we'd love to talk to YOU! Was this article helpful? Did you land an interview for a product analytics role?Let us know at [email protected]

Check out our sources!

Glassdoor Team. “Salary: Product Analyst (February, 2023) | Glassdoor.” Glassdoor , Glassdoor, 1 Feb. 2023, https://www.glassdoor.com/Salaries/product-analyst-salary-SRCH_KO0,15.htm

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Product Analyst Job Description Template

What Does a Product Analyst Do?

Product analysts perform market research and analyze market data, identifying consumer behaviors and trends. They make recommendations and provide launch strategies based on their analyses to increase firm profitability. Product analysts monitor product performance and recommend alterations to meet sales forecasts.

Product Analyst Job Overview

In the product analyst role, you will evaluate the firm’s products, comparing them against competitor offerings and matching them with market trends and demand. A key element of this role is the effective utilization of database analysis programs to provide timely results and recommendations. Success in this role is demonstrated by meeting or exceeding sales figures expectations from product launch.

Product Analyst Job Responsibilities and Duties

• Performs market research and collects customer feedback
• Evaluates products and forecasts performance
• Provides recommendations on product launch strategies
• Generates reports and presentations on results findings
• Monitors product performance
• Analyzes market data, trends, and behaviors

Product Analyst Job Requirements

• Bachelor’s degree in Economics or related field
• Minimum of 5 years experience in product analysis
• Proficient in MS Office and database programs
• Strong written and verbal communication skills
• Excellent multitasking and problem-solving abilities
• Exceptional time-management skills

Are you looking to start your hiring process today? Comeet can help. Check out our pricing plans  to learn more about how we can redefine the way you recruit new talent.

Similar job titles include:

• Photo Editor Job Description Template
• Marketing Executive Job Description Template
• Content Editor Job Description Template
• Media Planner Job Description Template
• Digital Media Specialist Job Description Template

Adrienne Smith

Adrienne Smith is a content strategy consultant working with high-growth businesses on their brand messaging, content strategy, and content creation. A digital nomad, she's exploring the world's cultures and cuisines as she works.

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• Career Blog

Market Research Analyst: Job Description & Skills in 2024

As a market research analyst, you play a crucial role in helping companies understand their audience and make better-informed business decisions. In this article, we will explore the job description and skills required to excel in this field.

Definition of Market Research Analyst

A market research analyst is responsible for collecting and analyzing data on consumer behavior, market trends, and competitors to help their organization make informed decisions. They use various research methods, including surveys, focus groups, and statistical analysis, to gather insights that can be used to improve products and services, develop marketing strategies, and identify opportunities for growth.

Importance of Market Research Analyst

Market research analysts are essential to helping companies stay competitive in today’s constantly evolving business landscape. By providing valuable insights into consumer trends and preferences, they help businesses make more informed decisions about product development, marketing, and sales.

In addition to helping businesses stay ahead of the competition, market research analysts also play a critical role in identifying emerging trends and opportunities. By keeping a pulse on the latest industry developments and consumer preferences, they can help their organization stay agile and adapt to changing market conditions.

Overview of the Article

Throughout the article, we will cover the following topics:

• The role of a market research analyst, including key responsibilities and requirements
• Essential skills and experience for success in this field
• Job outlook and earning potential for market research analysts
• Tips for breaking into the field and advancing your career
• Case studies and real-world examples of successful market research strategies

By the end of this article, readers will have a comprehensive understanding of what it takes to become a top-performing market research analyst and how to excel in this exciting and fast-paced field.

Market Research Analyst Job Description

Market research analysts play a crucial role in the success of a business by providing insights into customer needs, preferences, and habits.

A. Responsibilities

Market research analysts are responsible for conducting research in order to help businesses make informed decisions. They analyze data and information, evaluate findings, and communicate with clients, managers, and other stakeholders.

B. Gather Data and Information

One of the key responsibilities of a market research analyst is gathering data and information. This might involve conducting surveys, focus groups, or other types of research to collect information about customer preferences, purchasing habits, and other relevant data. They may also collect data from internal sources, such as sales data, customer databases, and website analytics.

C. Analyze Data and Information

Once data and information have been gathered, market research analysts must then analyze it. This may involve using statistical software to identify patterns and trends, conducting market research to identify competitors and market trends, and analyzing customer feedback to determine customer satisfaction and identify areas for improvement.

D. Evaluate and Present Findings

After analyzing data and information, market research analysts must then evaluate the findings. This involves drawing conclusions based on the data and identifying opportunities for growth and improvement. They may then create presentations, reports, and other materials to communicate their findings to clients, managers, and other stakeholders.

E. Communicate with Clients, Managers, and Stakeholders

Communication is a key part of a market research analyst’s job. They must be able to communicate complex data and findings in a way that is clear and understandable to non-technical stakeholders. This may involve creating reports, presentations, and other materials that can be easily understood by people outside of the research field.

F. Maintain Research Databases and Technology

Market research analysts must also ensure that research databases and technology are maintained and updated. This may involve managing databases of customer information, tracking trends in the industry, and staying up-to-date on new research methodologies and technologies. They must also ensure that all research is conducted ethically and in compliance with relevant laws and regulations.

Market research analysts are critical to the success of businesses across all industries. Their responsibilities include gathering and analyzing data, evaluating findings, communicating with clients and stakeholders, and maintaining research databases and technology. With their expertise, market research analysts help businesses make informed decisions and stay ahead of the competition.

Qualifications and Skills for Market Research Analyst

Market research analysts are responsible for deciphering data and insights to help organizations make informed business decisions. This involves a diverse skill set and a strong educational background. To be successful in this field, there are several vital qualifications and skills that market research analysts should have.

A. Education and Certification The first qualification for a market research analyst is to hold at least a bachelor’s degree in a relevant field such as marketing, statistics, or business administration. Advanced degrees, such as an MBA or a master’s in marketing research, offer a competitive advantage in this field. Additionally, certification programs, such as the Professional Researcher Certification (PRC) from the Insights Association, can enhance a candidate’s credentials.

B. Technical Skills Market research analysts should be proficient in data analysis and have a strong understanding of the latest technologies and data collection methods. This includes expertise in data analytics software and statistical analysis tools, as well as experience with survey and research methodologies.

C. Analytical Skills Market research analysts should possess strong analytical skills to help them interpret data and turn it into actionable insights. These skills include critical thinking, problem-solving, and the ability to identify patterns and trends.

D. Communication Skills Market research analysts should be effective communicators who can present complex data and insights in an easy-to-understand format. This includes not only verbal communication but also written communication through reports, presentations, and dashboards.

E. Organizational Skills Market research analysts need to possess strong organizational skills to manage multiple projects and deadlines simultaneously. This includes the ability to prioritize tasks, manage resources, and maintain accurate records.

F. Interpersonal Skills Market research analysts should have strong interpersonal skills to work effectively with team members and clients. This includes the ability to build rapport, active listening, and empathy.

G. Adaptability and Flexibility Market research analysts should possess excellent adaptability and flexibility skills to ensure they can respond to rapidly changing business needs. This includes the ability to pivot direction, multitask, and handle unexpected challenges with ease.

Market research analysts must have a unique blend of qualifications and skills to succeed in this industry. Having a strong background in education, technical skills, analytical skills, communication skills, organizational skills, interpersonal skills, and adaptability and flexibility are essential. As the market research industry continues to evolve, these skills will only become more critical for success.

Career Prospects and Salary for Market Research Analysts

Market research analysts are in high demand, as organizations across various industries rely on their insights to make informed business decisions. Here are some things to consider when it comes to career growth opportunities, job market trends and outlook, salary and compensation, and geographic and industry variation in salaries for market research analysts.

A. Career Growth Opportunities

Market research analysts typically begin their careers with a bachelor’s degree in marketing or a related field, though some employers may prefer candidates with a master’s degree. As they gain experience, market research analysts may have the opportunity to move into leadership roles, such as managing a team of analysts or becoming a director of market research.

In addition, market research analysts can expand their skills by developing expertise in specific areas, such as consumer behavior or market segmentation. They can also stay up-to-date with emerging trends and technologies by attending industry conferences or completing training programs.

B. Job Market Trends and Outlook

The job market for market research analysts is expected to grow at a fast pace, with the U.S. Bureau of Labor Statistics projecting a 18% increase in employment between 2019 and 2029. This growth is largely due to the increasing importance of data-driven decision making in today’s business landscape.

As more organizations embrace digital technologies, market research analysts with experience in areas such as social media analytics and digital marketing research may be particularly in demand.

C. Salary and Compensation

According to the U.S. Bureau of Labor Statistics, the median annual wage for market research analysts was $63,790 as of May 2019. However, salaries can vary widely based on factors such as experience level, industry, and geographic location.

Market research analysts working in the management, scientific, and technical consulting services industry tend to earn higher salaries, with a median annual wage of $85,730. Those working in the wholesale trade industry tend to earn lower salaries, with a median annual wage of $60,140.

D. Geographic and Industry Variation in Salaries

Geographic location can also impact salaries for market research analysts. For example, those working in metropolitan areas such as San Francisco, New York, and Boston tend to earn higher salaries due to the higher cost of living in these locations.

In terms of industry, market research analysts working in the computer systems design and related services industry tend to earn the highest salaries, with a median annual wage of $92,520 as of May 2019. Those working in the educational services industry tend to earn lower salaries, with a median annual wage of $51,860.

Market research analysts can expect strong job growth and competitive salaries. By continuing to develop their skills and expertise, they can position themselves for long-term success in this exciting field.

Types of Market Research Analyst

As a market research analyst, you can specialize in different areas of research depending on your interests and expertise. Below are some of the most common types of market research analysts:

A. Industry-Specific Market Research Analyst

Industry-specific market research analysts specialize in gathering information and insights about a particular industry or market segment. They study trends, consumer behavior, competition, and other factors that affect the industry they are focused on.

For instance, an industry-specific market research analyst may specialize in the healthcare industry, researching the latest developments in medical technology, changes in healthcare policies, and consumer behavior in healthcare settings.

B. Geographical Market Research Analyst

Geographical market research analysts focus on gathering data about specific regions or locations. They may study demographics, consumer behavior, or economic trends in a particular region.

For example, a geographical market research analyst working for a real estate company may gather data about property values, rental demand, and consumer preferences in a specific city or neighborhood.

C. Demographic Market Research Analyst

Demographic market research analysts specialize in understanding consumer behavior and preferences based on demographics such as age, gender, income, and education. They study consumer trends and buying behavior within specific demographics and use this data to improve marketing and product development strategies.

For instance, a demographic market research analyst may gather data on the spending habits and media consumption of millennials to help a company develop more targeted marketing campaigns for this demographic.

D. Product-Specific Market Research Analyst

A product-specific market research analyst specializes in understanding consumer behavior and preferences specific to a particular product or service. They gather data on consumer preferences, usage patterns, and satisfaction levels to help companies develop and improve their products and services.

For instance, a product-specific market research analyst may gather data on consumer preferences for mobile phone features to help a technology company design a new device that meets customer needs and preferences.

Market research analysts can specialize in different areas of research depending on their interests and expertise. Whether you prefer to analyze data about industries, demographics, products, or regions, there are exciting opportunities for you to apply your skills as a market research analyst.

Types of Market Research Techniques

Market research is a crucial aspect of any organization, allowing them to identify their target market and gather information about their customers’ needs and preferences. There are various techniques of market research, including:

A. Qualitative Research

Qualitative research focuses on gathering subjective data through direct communication with customers, including interviews, focus groups, and surveys. This technique helps to collect in-depth information about customers’ experiences, opinions, and attitudes, enabling businesses to gain a better understanding of consumer behavior.

B. Quantitative Research

Quantitative research, on the other hand, focuses on the collection of numerical data through surveys, polls, and questionnaires. This technique helps businesses to gather specific information about customer preferences and behaviors, enabling them to determine the most effective marketing strategies.

C. Primary Research

Primary research refers to the gathering of data directly from the source, typically through interviews, surveys, or observations. This form of research helps businesses to gain a comprehensive understanding of their target market and customer needs.

D. Secondary Research

Secondary research involves analyzing data that has already been collected by others, including industry reports, government publications, and academic research. This technique is often used to supplement primary research and provides a broader perspective on market trends and customer behavior.

Market research is an essential tool for any organization looking to understand their target audience and gain a competitive advantage. By utilizing different techniques such as qualitative and quantitative research, as well as primary and secondary research, businesses can gain valuable insights into customer behavior and preferences, helping them to make informed decisions about their marketing strategies. ** Commonly Used Market Research Tools

Market research analysts rely on a variety of tools to help them gather, manage, and analyze data related to consumer behavior, market trends, and product performance. Here are some of the most commonly used tools in the field:

A. Survey Tools

One of the primary methods that market researchers use to collect information is through surveys. Survey tools help analysts create customizable surveys that can be distributed to targeted groups of people. Some of the most commonly used survey tools include SurveyMonkey, Qualtrics, and Google Forms. These tools allow analysts to design surveys with a wide range of questions types, including multiple-choice, ranking, and open-ended questions. Many survey tools also offer features like respondent tracking, data analysis, and reporting.

B. Data Analysis Tools

Once market researchers have collected data, they need to analyze it to identify patterns, trends, and insights that can inform business decisions. Data analysis tools, like SAS, Excel, and R, help researchers manage, clean, and analyze data sets. These tools allow analysts to create charts, graphs, and other visualizations that can help them to better understand patterns in the data. They can also run statistical analyses to identify correlations between variables and test hypotheses.

C. Project Management Tools

Market research projects can involve multiple stakeholders and moving parts, which can make them difficult to manage. Project management tools, like Asana, Trello, and Basecamp, help researchers keep track of project timelines, budgets, and deliverables. These tools allow users to assign tasks and deadlines, communicate with team members, and track progress in real-time. Project management tools can also help researchers to better manage resources, identify areas of inefficiency, and improve collaboration across teams.

D. Reporting Tools

Once market researchers have collected and analyzed their data, they need to present their findings to stakeholders in a clear and compelling way. Reporting tools, like Tableau, QlikView, and Microsoft Power BI, help researchers create customizable reports and dashboards that can visualize data in meaningful ways. These tools allow users to create interactive charts, graphs, and maps that can reveal insights at a glance. They can also help researchers to identify trends over time and make comparisons between different data sets.

Market research analysts rely on a variety of tools to help them gather, analyze, and present data related to consumer behavior, market trends, and product performance. By leveraging these tools, market researchers can gain deeper insights into consumer preferences and behaviors, enabling businesses to make more informed decisions about marketing strategies, product development, and other key initiatives.

Important Key Performance Indicators (KPIs) for Market Research Analysts

As a market research analyst, it is important to know the key performance indicators (KPIs) that will help measure and analyze the success of your research strategies. Understanding KPIs is crucial for identifying areas of improvement, identifying opportunities for growth, and ensuring that your research is effectively contributing to the overall success of your organization.

Here are six key performance indicators that you should always keep in mind:

A. Customer Satisfaction

Customer satisfaction is a critical KPI for market research analysts. It measures how satisfied customers are with the products or services offered by a company. Customer satisfaction can be measured through surveys or feedback forms, and can be used to assess overall performance, identify areas for improvement, and help in developing strategies to improve customer satisfaction.

B. Net Promoter Score (NPS)

Net Promoter Score (NPS) is another important KPI for market research analysts. NPS is a score that measures how likely customers are to refer a company to a friend or colleague. This KPI is crucial because customers who are highly likely to recommend a company are more likely to be loyal and make repeat purchases.

C. Market Share

Market share is another vital KPI for market research analysts. It is the percentage of the total market that a company has captured. This KPI is critical because it helps you understand how your company is performing in comparison to competitors. It can also help you identify new areas for growth and opportunities for expansion.

D. Customer Retention

Customer retention is a KPI that measures the percentage of customers that continue to do business with a company over time. This KPI is essential because retaining customers is much easier and more cost-effective than acquiring new ones. It is important to keep this KPI in mind when developing strategies to improve customer loyalty and prevent churn.

E. Sales Growth

Sales growth is a measurable KPI that is essential for assessing the performance of a company. It measures the increase or decrease in revenue over time. A market research analyst must keep this KPI in mind when developing pricing and promotional strategies, identifying new markets, and optimizing product offerings.

F. Brand Awareness

Brand awareness is one of the most important KPIs for market research analysts. It measures how well a company is recognized and perceived by its customers. This KPI can be assessed through brand surveys or qualitative research studies. Measuring and improving brand awareness is essential for building a loyal customer base and improving sales growth.

Understanding and tracking these six key performance indicators will help market research analysts to assess the success of their research strategies, identify areas for improvement, and contribute to the overall success of their organization.

Challenges Faced by Market Research Analysts

Market research analysts play a critical role in businesses by gathering and analyzing data to help companies make informed decisions. However, this job comes with its own set of challenges. Here are the top five challenges faced by market research analysts:

A. Limited Time and Resources

Market research analysts are often tasked with conducting research on a tight deadline and limited budget. This can be challenging because it requires them to work efficiently and effectively to deliver accurate results within a constrained time frame. To tackle this challenge, analysts must prioritize their tasks, identify the most important data points, and use technology to automate and streamline certain processes.

B. Handling and Managing Big Data

With the rise of big data, handling and managing large amounts of data has become a critical challenge for market research analysts. It can be difficult to know where to begin when sorting through such vast amounts of information. Analysts must develop a strong understanding of data management and be able to analyze data from various sources to provide meaningful recommendations to their clients.

C. Staying Up-To-Date with Technological Advancements

Technology is rapidly advancing, and market research analysts must stay up-to-date with the latest tools and techniques to effectively perform their job. With the increase in social media and mobile devices, it is essential to understand new data sources and their potential value in informing business decisions. Additionally, analysts must have a strong understanding of data visualization and other tools to effectively communicate findings to clients.

D. Increased Competition

As the demand for skilled market research analysts continues to grow, so does the competition for jobs. This can be challenging for analysts who are just starting out in the industry, as more experienced candidates may have an advantage. Staying up-to-date with the latest trends and honing specialized skills can make an analyst stand out in a crowded job market.

E. Evolving Market Trends and Consumer Behaviour

Market research is consistently impacted by evolving trends and changing consumer behaviours, making it important for analysts to stay up-to-date on the latest shifts in the market. Traditional market research methods may not always suffice, and new data sources may become necessary to incorporate into analysis. Analysts must be flexible and adaptable to changing circumstances to ensure that their research is current and relevant.

Market research analyst faces challenges such as limited time and resources, handling and managing big data, staying up-to-date with technological advancements, increased competition, and evolving market trends and consumer behavior. Addressing these challenges requires market research analysts to stay informed, adaptable, and creative in their work.

Importance of Market Research Analyst for Various Industries

Market research analysts play a crucial role in various industries by helping businesses make informed decisions about their products, customers, and competitors. They collect and analyze data to identify trends, market opportunities, and customer preferences, which businesses can use to improve their products or services and stay ahead of the competition. In this section, we will discuss the importance of market research analysts for various industries, including:

A. Retail Industry

The retail industry is one of the largest and most competitive industries in the world. Market research analysts help retailers understand consumer behavior, preferences, and purchasing patterns, which can help them make decisions about product design, pricing, and promotions. They use various data collection methods, such as surveys, focus groups, and sales data analysis, to gather valuable insights about their target audience. In addition, market research analysts can help retailers identify new market opportunities and stay ahead of industry trends.

B. Healthcare Industry

The healthcare industry is another sector that benefits greatly from market research analysis. Market research analysts help healthcare providers understand patient needs, preferences, and satisfaction levels, which can help them improve patient care and services. They also help healthcare providers identify market opportunities and determine the viability of new treatments or medical devices. Market research analysts in the healthcare industry help insurance companies determine pricing and coverage policies based on economic and demographic factors.

C. Technology Industry

The fast-paced and rapidly evolving technology industry requires constant innovation, and market research analysts play a critical role in this process. They help technology companies understand customer needs and preferences to develop products that meet those needs. They also help companies identify emerging trends and new markets to expand into, which can lead to increased revenue and market share. Market research analysts can also help technology companies develop marketing and advertising campaigns that resonate with their target audience.

D. Manufacturing Industry

In the manufacturing industry, market research analysts help companies gather information about their products, competitors, and target markets. They use data analysis to identify consumer preferences and trends, as well as to gauge demand for specific products. Market research analysts can also help manufacturing companies identify new markets and sales opportunities, as well as assess the viability of new products in development.

E. Food & Beverage Industry

Market research analysts in the food and beverage industry help companies understand consumer preferences and develop products that meet those preferences. They use surveys, focus groups, and other methods to gather data about consumer behavior regarding food and beverage products, as well as to identify emerging trends in the industry. Market research can also help companies identify new markets, such as niche diets or eating habits, and develop products that cater to those markets.

Market research analysts are essential in various industries as they provide valuable insights that businesses can use to improve their products or services, stay ahead of the competition, and identify new market opportunities.

Example Case Studies

As a market research analyst, one of the most important skills you need to have is the ability to analyze data and generate insights from it. In this case study, we’ll take a look at how Jane, a market research analyst working for a consumer goods company, used her skills to help the company make better business decisions.

The company was considering launching a new line of organic snacks targeted at health-conscious consumers. The marketing team had already conducted some preliminary research, such as focus groups and surveys, but they needed more in-depth insights to make informed decisions about the product lineup and pricing strategy.

Jane’s first step was to conduct a comprehensive market analysis. She looked at consumer trends, competitor offerings, and market size and growth potential. This helped the team understand the broader industry landscape and potential demand for the product.

Next, Jane analyzed the data collected from the focus groups and surveys. She used statistical methods to identify patterns and trends in the responses, such as which features consumers valued most in organic snacks and which price points they were willing to pay. She also looked at demographic data to better understand the target consumer segment.

Based on her analysis, Jane recommended that the company launch three different varieties of organic snacks, each with a slightly different flavor profile and price point. She also suggested that the company create a loyalty program to incentivize repeat purchases and capture data about customer preferences.

The marketing team implemented Jane’s recommendations and launched the new line of snacks. Sales exceeded the team’s projections, and the company was able to capture more market share in the health food sector. Jane’s insights helped the company make informed decisions that led to a successful product launch.

This case study shows the importance of market research analysis skills in driving business success. As a market research analyst, you need to be able to gather and interpret data accurately to generate insights that are actionable and drive impact. Whether you’re working for a consumer goods company or a technology startup, these skills are essential for helping your organization make smart, data-driven decisions.

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“Research Analyst Job Description”

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Research Analyst Job Description

Responsibilities, requirements and skills.

A Research Analyst is responsible for gathering, analyzing, and interpreting data to help organizations make informed business decisions. This role requires strong analytical skills, attention to detail, and proficiency in various research methodologies and tools.

• Conduct market research to gather data on industry trends and competitors.
• Analyze data to identify patterns, trends, and insights that can guide business strategies.
• Prepare and present detailed reports and recommendations based on research findings.

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• Design and conduct research projects to meet business objectives.
• Collect and organize data from primary and secondary sources.
• Utilize statistical tools and software to analyze data.
• Generate reports with actionable insights and recommendations.
• Present research findings to stakeholders in a clear and concise manner.
• Bachelor’s degree in Business, Economics, Statistics, or a related field.
• Proven experience as a Research Analyst or similar role.
• Strong analytical and problem-solving skills.
• Proficiency in data analysis software such as Excel, SPSS, or R.
• Excellent communication and presentation skills.

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Product Analytics Analyst

New York, NY, United States of America(US), 10022

WORK OPTION:  Remote

The National Basketball Association (NBA) is a global sports and media organization with the mission to inspire and connect people everywhere through the power of basketball.  Built around five professional sports leagues:  the NBA, WNBA, NBA G League, NBA 2K League and Basketball Africa League, the NBA has established a major international presence with games and programming available in 214 countries and territories in 60 languages, and merchandise for sale in more than 200 countries and territories on all seven continents.  NBA rosters at the start of the 2023-24 season featured a record 125 international players from 40 countries and territories.  NBA Digital’s assets include NBA TV, NBA.com, the NBA App and NBA League Pass.  The NBA has created one of the largest social media communities in the world, with more than 2.3 billion likes and followers globally across all leagues, team and player platforms.  NBA Cares, the NBA’s global social responsibility platform, partners with renowned community-based organizations around the world to address important social issues in the areas of education, inclusion, youth and family development, and health and wellness.   

Group Summary: The NBA’s Direct to Consumer team’s mission is to bring the world courtside by providing the NBA experience for everyone, everywhere. The group creates and manages digital products that extend the league’s global reach, from mobile applications to virtual reality experiences. It also delivers live games, exclusive content, and experiences to fans across different devices through NBA League Pass, the league’s premium subscription offering, and NBA ID, the league’s membership program. The DTC team is responsible for developing strategies for distributing and monetizing content with our global regional offices and partners. 

Job Summary: In this role, you will help drive the next phase of growth for the NBA’s digital product portfolio. Your focus will be on building a better understanding of our fans through data and helping to enable data-driven decisions for the group of teams focused on increasing engagement, retention and revenue across our web and mobile properties. You will perform regular analysis to understand fan behavior within the NBA’s products and build dashboards and reporting to monitor performance and communicate insights. In conjunction with data scientists, data engineers and other analysts, you will also help build an analytics layer to facilitate deeper analyses, better reporting and more efficient insight derivation. You will also work directly with product managers to help them understand product performance to help design and implement A/B tests to impact our core metrics. You will convey insights in actionable ways that can influence strategic decision-making and prioritization for the digital leadership team. In joining this team, you will help to contribute to continuous learning, insightful analysis and experimentation with an unrelenting fan focus.

Major Responsibilities:

• Support the development of data driven strategies to drive the growth of the NBA’s digital direct to consumer business, including NBA League Pass and NBA ID, through innovative new features, content initiatives, and marketing efforts
• Conduct deep-dive analyses of product feature performance to draw insights and drive hypothesis generation for A/B testing
• Analyze user behavior and identify trends across the NBA’s website and mobile + connected apps to support the league’s subscription, membership and advertising businesses
• Conceptualize, build and maintain dashboards to monitor business and product performance
• Build presentations to provide strategic recommendations to program leads, product managers, designers, business strategists and marketing leads based on analysis of our products
• Assist with target-setting and forecasting for digital product feature performance
• Support diagnostic and predictive modelling efforts with the league’s data science team to better understand NBA fan behavior
• Continuously improve data analysis processes and methodologies to enhance accuracy and efficiency
• Monitor data to identify and address anomalies, inconsistencies, or errors.
• Contribute to measurement and digital data collection efforts for the NBA product ecosystem with a focus on 1st party data
• Partner directly with product managers, software developers, data engineers and data strategists to help build and maintain our analytics data environment

Required Education/Professional Experience

• Bachelor’s degree required
• 2+ years of experience in an analytical role
• Experience working on digital experiences, membership programs, and subscription-based businesses is a plus

Required Skills/Knowledge Attributes

• Demonstrated ability to conduct data analysis, deliver actionable insights, and work directly with stakeholders to implement recommended actions!
• Ability to communicate complex data insights in a clear and concise manner to non-technical stakeholders
• Understanding of business goals and how data can be used to support strategic decision making
• Fluency with SQL
• Working knowledge of Python and/or R
• Working knowledge of best-in-class data visualization tools (Tableau, Power BI)
• Experience working in a cloud-based data warehouse environment (Azure, Snowflake, BigQuery, etc.)
• Experience with statistical models and running regressions applied to consumer-facing products
• Experience with product/marketing event-level data collection and analytical tools (Adobe Analytics, Amplitude, etc.)
• Excellent presentation and written communication skills
• Knowledge of basketball and a passion for the NBA and sports is helpful and welcomed!

Salary Range:  [[$105,000 - $135,000]] 

Job Posting Title:  [[Manager]] 

The NBA does not accept unsolicited resumes from search firms or any other third parties. Any unsolicited resume sent to the NBA will be considered NBA property, and the NBA will not pay a fee should it hire the subject of any unsolicited resume. 

The NBA considers applicants for all positions on the basis of merit, qualifications, and business needs, and without regard to race, color, national origin, religion, sex, age, disability, sexual orientation, gender identity, alienage or citizenship status, ancestry, marital status, genetic predisposition or carrier status, veteran status, familial status, status as a victim of domestic violence, or any other status or characteristic protected by applicable federal, state, or local law.

About the NBA The National Basketball Association (NBA) is a global sports and media organization with the mission to inspire and connect people everywhere through the power of basketball.  Built around five professional sports leagues:  the NBA, WNBA, NBA G League, NBA 2K League and Basketball Africa League, the NBA has established a major international presence with games and programming available in 215 countries and territories in more than 50 languages, and merchandise for sale in more than 200 countries and territories on all seven continents.  NBA rosters at the start of the 2021-22 season featured a record 121 international players from 40 countries.  NBA Digital’s assets include NBA TV, NBA.com, the NBA App and NBA League Pass.  The NBA has created one of the largest social media communities in the world, with 2.1 billion likes and followers globally across all league, team, and player platforms.  Through NBA Cares, the league addresses important social issues by working with internationally recognized youth-serving organizations that support education, youth and family development, and health-related causes.

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