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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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In today's competitive global economy, market research is an essential tool. It's what helps entrepreneurs refine their startup ideas to have the best odds of success. And it's also what established businesses use to explore the viability of new products and services. In short, modern businesses rarely make a move without doing market research first.

That makes the skills of market research analysts quite valuable in today's job market. But learning how to be a market research analyst isn't as straightforward as you might think. And that's because it's a discipline that's part science and part art form – meaning you'll need to develop a diverse skill set to be good at the job.

Here are the essential skills of a market research analyst.

Data Analysis Skills

At its heart, market research involves the collection of large amounts of data , which you then mine for useful insights about a given line of business or industry. And that means that data analysis is the most important part of the job of a market research analyst.

Specifically, market research analysts must understand four specific data analysis types, which are:

Descriptive Data Analysis – Techniques to organize and categorize historical data to identify existing trends. This is often used to quantify the results of past business practices in raw terms (like the number of sales, products manufactured, site visits, etc.).

Diagnostic Data Analysis – Techniques to compare data sets that help identify causal relationships. For example, if a descriptive analysis revealed increasing sales over a given period, a diagnostic analysis would seek the reason for the change (such as a marketing campaign, a price change, or an external trend).

Predictive Data Analysis – Techniques that use existing data to forecast future trends and outcomes. This often involves complex mathematical models and the application of machine learning algorithms to extract meaningful predictions from available data sets.

Prescriptive Data Analysis – A more advanced form of predictive analysis, prescriptive analysis attempts to forecast potential outcomes that result from hypothetical changes to business practices. An existing business might use this to determine if ending production of a particular product might have unintended consequences, or if the launch of a new product might make others redundant.

Data Collection Skills

Even though market research analysts often work with data that businesses already have on hand, they're frequently called upon to collect new data, as well. And that means they need to be skilled in a variety of data collection techniques, too. These include:

Interpersonal and Interview Skills – Market research analysts often use focus groups and customer interviews to collect specific data to use in their work. But getting usable data means having a high level of interpersonal skills and interview skills . This is critical to extract usable information that's free of potential biases.

Survey Creation – Market research analysts must know how to create scientifically valid surveys to focus in on the information they're hoping to gather. They also have to be familiar with using form builder software to create and publish digital versions of the surveys they create.

Data Curation – This refers to the skills needed to manage collected data and distill it down to what's useful for market research purposes. In other words, it means knowing how to eliminate irrelevant data and prepare what's left for the process of market research.

Communication Skills

One of the major purposes of market research is to uncover business insights that inform strategy. But data alone isn't always enough in a business context. And that's why a market research analyst needs strong communication skills , too. This allows them to communicate the significance of their findings to stakeholders, who may then use them in their decision-making processes. Without those skills, they'd be unable to function effectively within a business's hierarchy.

Data Visualization Skills

In addition to communication skills, market research analysts must understand how to create compelling data visualizations that aid in communicating their findings to others. Data visualizations are graphic representations of datasets, aimed at highlighting relevant trends or takeaways from the data. They make it possible for stakeholders without a background in data analysis to see and understand the work that a market research analyst does.

Knowledge of Human Behavior and Psychology

Since the role of a market research analyst is to understand how consumers will act and react to products, services, and business strategies, they need a deep understanding of human behavior and psychology. This is because market research doesn't always yield clear answers to every business question. And that's where the role of a market research analyst comes much closer to being an art form than a science.

Market research analysts have to use their knowledge of psychology to design appropriate investigations that will yield useful insight. This means they need a sharp sense of intuition and insight into consumer behavior. Otherwise, there would be no way to narrow down possible areas of inquiry. The knowledge provides valuable context and allows the market researcher to make baseline assumptions that guide their work.

Introduction to Communication Skills - The Skills You Need Guide to Interpersonal Skills

The Bottom Line

At the end of the day, the role of a market research analyst revolves around data. And that's what makes data analysis skills so crucial to the job. But unlike the role of a data scientist , a market research analyst must also know how to collect useful data through field research and direct consumer contact. They also have to understand the mind of the consumer. In other words, they must know their subjects as more than just raw numbers and data points.

All these skills allow market research analysts to provide the valuable insights that modern businesses now depend on. They reduce the number of costly errors that businesses make when they approach decisions without the appropriate information. And they deliver better and more relevant products and experiences to consumers. That said, it should be no wonder that market research analysts are so in demand in today's job market. And now you know exactly what skills to develop if you want to be one of them.

About the Author

Philip Piletic closely follows the impact of technology on education, and its evolution from traditional to modern methods that include e-learning, courses, gamification, and others. He has also helped the Sydney-based IT & Business school in developing their IT courses.

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How to Become a Market Research Analyst How to Become a Market Research Analyst How to Become a Market Research Analyst

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An increasing number of companies across varied industries rely on market research and statistical data to make informed decisions and carry out effective plans. This has made the market research analyst role indispensable in many organizations.

Students who are interested in entering the profession should know that educational investment is crucial. In addition to earning the right degree to become a market research analyst, they also need to develop the right set of skills and gain sufficient working experience.

What Does a Market Research Analyst Do?

Market research analysts help companies understand target markets. They do this through in-depth studies of market trends, market conditions, consumer buying behaviors, and other related metrics. Having a comprehensive understanding of these areas allows companies to devise the right products and identify which consumers are likely to purchase those products at certain prices. Market research analysts may accomplish this through questionnaires, interviews, and market analysis, among other strategies. These professionals are also skilled in researching and analyzing competitors.

Market Research Analyst Degree Path

Market research analysts are vital to helping a business target the right consumers and optimize growth strategies. Earning a degree in marketing, business analytics, or a related field can help individuals on their path toward becoming a market research analyst. Gaining professional experience and honing the skills that are considered fundamental for the role are also important.

Collectively, these steps can equip individuals with a foundation in the necessary skills and knowledge to be successful in the career. Just as importantly, they can help individuals understand how best to apply what they’ve learned to an individual company’s goals.

Market Research Analyst Education Requirements

Typically, the market research analyst role requires a minimum of a bachelor’s degree. There are a number of relevant undergraduate degrees, with the most useful offering a deeper understanding of core concepts related to market research analysis, including consumer behavior, target audience identification, and strategic planning.

Those who are interested in an advanced career in market research analysis should consider pursuing a master’s degree. This isn’t a requirement to enter the field, but some employers may prefer candidates with an advanced degree, especially for senior and managerial roles.

How to Become a Market Research Analyst

There are essential steps to becoming a market research analyst, including obtaining the right bachelor’s degree and considering a master’s degree for possible higher-level positions. Market research analysts also need several years of work experience to become certified as professional market researchers.

Step 1: Earn a Bachelor’s Degree

Students can begin their paths by earning a bachelor’s in fields such as marketing , business administration , or psychology . Each of these degrees, in different ways, provides valuable insights, enabling future market research analysts to assess consumer buying behaviors and preferences.

Specifically, a degree in marketing is valuable, since the coursework incorporates business theories and policies, marketing, and the study of consumer behaviors. A bachelor’s in business administration provides a foundation in financial accounting, economics, business law, and statistics. A degree in psychology, on the other hand, allows students to study human nature and behaviors from perspectives that incorporate fundamental concepts such as cognition, multiculturalism, critical thinking, and development through the lifespan.

Step 2: Build On-the-Job Experience

Advancing to the role of market research analyst usually requires at least a few years of industry experience, working in a role such as marketing assistant or account representative. This background helps gain access to greater job opportunities — such as becoming a market research analyst — as well as assists in qualifying for particular certifications. Market research analysts usually work full time, although certain job demands, such as time-sensitive marketing campaigns, may require them to work additional hours.

Step 3: Earn a Master’s Degree (Optional)

To qualify for higher-level positions, market research analysts should consider pursuing a master’s degree. There are degrees that focus specifically on market research analysis related fields, such as marketing, market research, or data analytics; however, professionals may also choose to earn a Master of Business Administration (MBA) .

In addition to opening greater career opportunities, a master’s degree can also serve as a valuable tool in obtaining the Insights Professional Certification, or IPC. This designation is administered by the Insights Association. To qualify, applicants need to take and pass a test and possess at least three years of work experience. Certified researchers who plan to renew their credentials, which is required every two years, must complete 20 hours of continuing education.

What Skills Does a Market Research Analyst Need?

In addition to building job experience and obtaining the right education, market research analysts need specific soft skills to succeed in the field.

The ability to analyze huge amounts of data is a must, considering that research and information analysis are at the heart of the job. In terms of choosing the right marketing strategies for any given company, critical-thinking abilities also come into play.

Finally, market research analysts need exceptional communication skills. Those interested in becoming market research analysts need to develop oral and written communication skills, as the role typically involves frequent presentations and interactions with clients, team members, consumer audiences, and other stakeholders.

Market Research Analyst Salaries and Job Outlook

According to the BLS, the median salary for a market research analyst in 2020 was $65,810. Several factors contribute to precise salary levels, such as overall professional experience and the position’s location.

In addition, the BLS projects 18% growth for this job between 2019 and 2029. This rate is significantly higher than the 4% average employment growth for all other occupations over the same 10-year period. By 2029, the BLS estimates that as many as 130,300 additional market research analyst jobs will be created.

Several factors contribute to this impressive growth in market research analyst jobs. Companies are relying to a greater degree on data and research to effectively target consumers. The ability to reach the right customers, due to more effective marketing and advertising strategies, leads to an increase in business profits.

The BLS further reports that job applicants with strong backgrounds in statistics and data analysis, as well as those with a master’s degree in marketing or business administration, are likely to have better employment opportunities.

Start Your Journey to Becoming a Market Research Analyst Today

If you have a passion for understanding marketing research, statistical data, and human psychology, a career as a market research analyst might be an excellent choice.

There is no better time than now to invest in your future. Earning a degree in a field such as marketing, statistics, analytics, psychology, or business administration can be a step in the right direction to becoming a market research analyst.

Maryville University offers online bachelor’s and master’s degrees in a range of fields including marketing , psychology , and business administration . These rigorous academic degree programs are designed to fit into students’ busy lifestyles, which may include family obligations and full-time jobs.

Be brave. Take the first step today toward an exciting career as a market research analyst.

Market Research Analyst Skills

Learn about the skills that will be most essential for Market Research Analysts in 2024.

Getting Started as a Market Research Analyst

What is a Market Research Analyst
How To Become
Certifications
Tools & Software
LinkedIn Guide
Interview Questions
Work-Life Balance
Professional Goals
Resume Examples
Cover Letter Examples

What Skills Does a Market Research Analyst Need?

Find the important skills for any job.

Types of Skills for Market Research Analysts

Analytical and critical thinking, technical proficiency, communication and presentation skills, understanding of consumer behavior, project management and organization.

Attention to Detail

Top Hard Skills for Market Research Analysts

Leveraging statistical tools, data visualization, and advanced analytics to uncover market insights, predict trends, and drive strategic decision-making.

Analytical Thinking
Communication Skills
Critical Thinking
Problem-Solving
Time Management
Adaptability
Team Collaboration
Interpersonal Skills
Creative Thinking

Top Soft Skills for Market Research Analysts

Leveraging analytical, creative, and interpersonal skills to deliver insightful, data-driven solutions in dynamic market environments.

Data Collection and Survey Design
Statistical Analysis and Software (SPSS, SAS, R)
Data Visualization (Tableau, Power BI)
Quantitative and Qualitative Research Methods
Market Segmentation and Targeting
Consumer Behavior Analysis
Advanced Excel Skills
Predictive Analytics and Modeling
Database Management (SQL)
Competitive Analysis and Benchmarking

Most Important Market Research Analyst Skills in 2024

Analytical thinking and data interpretation, proficiency in market research tools and techniques, critical thinking and problem-solving, understanding consumer behavior, adaptability and continuous learning, project management skills, ethical considerations and data privacy.

Show the Right Skills in Every Application

Market research analyst skills by experience level, important skills for entry-level market research analysts, important skills for mid-level market research analysts, important skills for senior market research analysts, most underrated skills for market research analysts, 1. critical thinking, 2. communication, 3. technical proficiency, how to demonstrate your skills as a market research analyst in 2024, how you can upskill as a market research analyst.

Enroll in Advanced Analytics Courses: Stay updated with the latest analytical tools and techniques by taking advanced courses in data analytics, machine learning, and statistical analysis.
Attend Industry Conferences and Webinars: Participate in events to gain insights into emerging trends, network with industry professionals, and learn from experts in market research.
Leverage Online Learning Platforms: Utilize platforms like Coursera, Udemy, or LinkedIn Learning for flexible, self-paced learning on various market research topics.
Seek Mentorship and Coaching: Connect with experienced Market Research Analysts or professional coaches to receive personalized guidance and insights.
Engage in Cross-Functional Projects: Collaborate with different departments such as marketing, sales, and product development to gain a holistic understanding of business operations and consumer behavior.
Master Data Visualization Tools: Enhance your ability to present data effectively by becoming proficient in tools like Tableau, Power BI, and Google Data Studio.
Join Professional Associations: Become a member of organizations like the Market Research Society (MRS) or the American Marketing Association (AMA) to access resources, attend events, and connect with peers.
Focus on Soft Skills Development: Improve skills such as communication, critical thinking, and problem-solving through workshops, role-playing, and feedback sessions.
Stay Informed on Industry Trends: Regularly read industry publications, blogs, and reports to stay informed about the latest trends, challenges, and opportunities in market research.

Skill FAQs for Market Research Analysts

What are the emerging skills for market research analysts today, how can market research analysts effectivley develop their soft skills, how important is technical expertise for market research analysts.

Market Research Analyst Education

More Skills for Related Roles

Uncovering insights through data, driving strategic decisions with informed analysis

Transforming data into insights, driving strategic business decisions and growth

Uncovering market trends and insights to drive strategic business decisions and competitive edge

Uncovering consumer behaviors and trends to drive strategic business decisions and growth

Driving business growth and efficiency through data-driven insights and strategic analysis

Unlocking business insights through data, driving strategic decisions with numbers

Start Your Market Research Analyst Career with Teal

How to become a market research analyst

Is becoming a market research analyst right for me.

The first step to choosing a career is to make sure you are actually willing to commit to pursuing the career. You don’t want to waste your time doing something you don’t want to do. If you’re new here, you should read about:

Still unsure if becoming a market research analyst is the right career path? Take the free CareerExplorer career test to find out if this career is right for you. Perhaps you are well-suited to become a market research analyst or another similar career!

Described by our users as being “shockingly accurate”, you might discover careers you haven’t thought of before.

How to become a Market Research Analyst

Becoming a market research analyst requires a combination of education, skills development, and practical experience. Here is a guide to help you pursue a career as a market research analyst:

Obtain a Bachelor's Degree: Start by earning a bachelor's degree in a relevant field such as marketing , business , statistics , mathematics , economics , or social sciences . Some employers may prefer candidates with a master's degree for advanced or specialized roles.
Gain Relevant Skills: Develop skills in data analysis, statistical analysis, quantitative and qualitative research methods, and proficiency in software tools like Excel, statistical software (e.g., SPSS, SAS), and data visualization tools. Strong communication skills, both written and verbal, are essential for presenting findings effectively.
Gain Practical Experience: Seek internships, part-time jobs, or volunteer opportunities related to market research, data analysis, or marketing. Practical experience will provide you with hands-on skills and make your resume more attractive to employers.
Pursue Advanced Education (Optional): Consider pursuing a master's degree (e.g., Master of Market Research, Master of Business Administration) to enhance your knowledge and qualifications. Advanced degrees can open doors to higher-level positions and specialized roles within market research.
Build a Portfolio: Create a portfolio showcasing your research projects, data analysis skills, and any relevant work or internships. A portfolio provides tangible evidence of your abilities and can impress potential employers during job interviews.
Network and Join Professional Associations: Attend industry events, conferences, and networking sessions to connect with professionals in the field. Joining organizations like the American Marketing Association (AMA) or the Insights Association can provide access to resources, job postings, and networking opportunities.
Look for Entry-Level Positions: Apply for entry-level market research analyst positions. Look for job openings on online job portals, company websites, and professional association websites. Tailor your resume and cover letter to highlight your skills and relevant experience.
Continue Professional Development: Stay updated with industry trends, new research methodologies, and technological advancements. Pursue certifications like the Professional Researcher Certification (PRC) offered by the Insights Association to enhance your credentials.
Excel in Interviews: Prepare for interviews by practicing common market research questions, showcasing your analytical skills, and demonstrating your ability to translate complex data into actionable insights. Be prepared to discuss specific projects or experiences where you applied your market research skills effectively.

Certifications There are several certifications available for market research professionals that can enhance their skills, credibility, and career prospects. Here are a few notable certifications for market research analysts:

Professional Researcher Certification (PRC): Offered by the Insights Association, the PRC is a widely recognized certification for market research professionals. It demonstrates expertise in market research principles, ethics, and practices. Candidates need to pass an examination to earn this certification.
Certified Business Intelligence Professional (CBIP): Offered by the Data Warehousing Institute (TDWI), the CBIP certification covers various aspects of business intelligence, including data analysis and research. While not specific to market research, it can be valuable for professionals involved in data analysis and interpretation.
Google Analytics Individual Qualification (GAIQ): While not market research-specific, Google Analytics certification demonstrates proficiency in web analytics, which is valuable for market research analysts involved in online data analysis and digital marketing research.
Microsoft Certified: Data Analyst Associate: Offered by Microsoft, this certification is ideal for professionals working with Microsoft Power BI, a popular business analytics tool. It demonstrates skills in data visualization, modeling, and business intelligence.
Certified Analytics Professional (CAP): Offered by the Institute for Operations Research and the Management Sciences (INFORMS), CAP certification is suitable for professionals engaged in advanced analytics and data-driven decision-making. It covers various analytics domains, including descriptive, predictive, prescriptive analytics, and data management.
Qualitative Research Professional (QRP): Offered by the Insights Association, the QRP certification is specific to professionals engaged in qualitative research methods. It validates expertise in qualitative research design, execution, and analysis.

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Market Research Analyst Career

What is a market research analyst .

Positioned at the crossroads of psychology, data science, and advertising, market research analysis involves leveraging qualitative and quantitative information to enhance marketing strategies. Market research analysts and marketing specialists provide data-informed marketing guidance to companies. They’re skilled researchers who scour web analytics, sales records, social media platforms, and customer feedback to collect data and uncover valuable insights. Market research analysts translate disjointed, complex information into cohesive action plans that marketing teams use to expand their audience, increase sales, and better meet customers’ needs. If you’re an analytical thinker with an interest in marketing, the market research analyst career may be right for you.

RESPONSIBILITIES

What Does a Market Research Analyst Do?

The day in the life of a market research analyst involves a mixture of data collection, statistical analysis, reporting, presentations, and cross-team collaboration. While job duties can vary depending on the industry and marketing goals, this dynamic career typically involves the following responsibilities:

Developing data-collection tools such as customer satisfaction surveys and questionnaires.
Interviewing customers and conducting focus groups to understand the target audience’s opinions and perceptions of the brand.
Collecting and analyzing data from web analytics tools, social media interactions, online reviews, sales statistics, and customer relationship management (CRM) systems.
Estimating potential sales.
Visualizing and summarizing numerical information using graphs, charts, tables, and infographics.
Developing action plans detailing the suggested marketing goals and strategies.
Recommending new marketing tactics to company leaders.
Evaluating sales data and analytics to determine the success of the company’s marketing initiatives.
Investigating competitors’ products, services, systems, and advertising methods.
Closely following emerging consumer trends, market fluctuations, and industry dynamics.

EDUCATION & BEST DEGREES

How do i become a market research analyst .

The market research field attracts individuals of diverse educational backgrounds. If you’re interested in this multifaceted and evolving profession, consider earning a degree in marketing, business, or psychology. While each educational route provides a unique skill set and knowledge base, they can all establish the foundation for a thriving market research analyst career. Professionals with a B.S. in Psychology , for example, use their understanding of human behavior to identify customers’ needs and devise persuasive marketing strategies. Psychology programs emphasize quantitative and qualitative data collection and analysis—abilities that are crucial for a research analyst job.

A B.S. in Business Administration–Marketing or B.S. in Business Administration–Business Management can also set the stage for a prosperous market research analyst career. If you want to qualify for advanced positions with greater responsibilities and higher salaries, consider earning a master’s degree. An M.S. in Marketing can provide the in-depth knowledge needed to excel in this competitive job market. Once you’ve earned your degree, you may want to acquire one or more professional certifications. Certifications can further enhance your legitimacy as a research analyst and show employers that you have the expertise needed to succeed in this challenging career. WGU offers a self-directed, competency-based Business Leadership Certificate to help you develop your leadership abilities. The certificate curriculum is deliberately chosen to align with the competencies employers seek in job candidates.

Best Degrees for a Market Research Analyst

An online psychology program for students who want to make a difference in...

An online psychology program for students who want to make a difference in their life, and the lives of others.

Time: 95% of students finish similar programs in less than 4 years.
Tuition: $4,085 per 6-month term.
Courses: 34 total courses in this program.

Skills for your résumé included in this program:

Social psychology
Consumer psychology
Adult psychology
Mental health awareness
Psychopathology

This degree allows you to gain valuable knowledge and experience in the field of psychology and can prepare you for additional certifications or careers.

Hone your business acumen and garner added respect:...

Hone your business acumen and garner added respect:

Time: 61% of graduates finish within 19 months
Tuition: $3,755 per 6-month term
Courses : 40 total courses in this program

Skills for your résumé this program will teach you include:

Business communication
Product development
Decision making models
Project management strategies
Budgeting for business

This online degree program is an excellent choice for kick-starting your organizational management career.

For those who want to lead brands and steer consumer markets:...

For those who want to lead brands and steer consumer markets:

Time: 60% of graduates finish within 19 months.
Tuition: $3,755 per 6-month term.
Courses: 41 total courses in this program.

Skills for your résumé you will learn in this program include:

Communication
Project Management
Product Management

Marketing is a creative and exciting field—and one where an undergraduate degree will open better opportunities.

Two online marketing master's degree options with a focus on either...

Two online marketing master's degree options with a focus on either digital marketing or marketing analytics.

Time: 61% of graduates finish WGU master's programs in 18 months
Tuition: $4,755 per 6-month term
Courses: 10 total courses in this program
Specialization: Students choose from two specializations to focus their marketing studies on digital marketing or marketing analytics

Skills for your résumé that you will learn in this program:

Strategic Planning
Digital Marketing Analytics
Presentations
Market Research
Communications

A marketing master's degree will help you prepare for a wide range of exciting marketing careers.

An online UX Design program designed for students who want to become...

An online UX Design program designed for students who want to become business-savvy designers that can generate best-in-class, customer-centric products and services.

Time: 60% of students finish similar programs in 19 months.
Courses: 38 total courses in this program

Skills for your résumé you will learn in this program:

Wireframing and Prototyping
Artificial Intelligence
Accessible Design
Figma Design Software
UI/UX Research
User Testing
Adobe Express

This degree prepares you with relevant industry skills and experience that will help you move forward in your career.

How Much Does a Market Research Analyst Make?

According to the U.S. Bureau of Labor Statistics (BLS), The median market research analyst salary is $68,230 per year . Annual wages range from less than $38,280 to more than $131,850. Salaries vary based on location, employer, and industry.

What Is the Job Outlook for a Market Research Analyst?

Consumers have more options than ever when choosing the companies they patronize. Businesses rely on market research analysts to provide data-driven insights to help them develop effective marketing campaigns and stand out from the competition. The BLS estimates that the need for market research analysts from 2022 to 2032 will grow by 13% . This favorable job outlook is primarily driven by the increasing use of data-informed marketing across industries. During this period, there will be an estimated 94,600 openings for market research analysts each year.

What Skills Does a Market Research Analyst Need?

Because it’s a multifaceted profession, market research analyst jobs require proficiency in multiple domains. You’ll need the following skills:

Data collection and analysis. Through systematic data analysis, market research analysts pinpoint the marketing strategies with the greatest potential for advancing the business.
Research expertise . Navigating vast data sets isn’t easy, and marketing professionals must harness statistical knowledge, analytical thinking, and attention to detail to identify patterns and extract meaningful insights.
Communication . Because they explain complex marketing recommendations to stakeholders, market research analysts need a mix of strong verbal and written communication skills.
Strategic thinking. Strategic thinking allows market research analysts to collect data, account for relevant factors, prioritize information, and develop marketing initiatives that are practical, financially worthwhile, and aligned with the business’s broader goals.
Continuous learning. By embracing a growth mindset, research analysts can stay abreast of market conditions and economic trends influencing their marketing strategies.
Collaboration. Because the job intersects with so many other business sectors, teamwork is vital to being a market research analyst.
Technological proficiency. Market research analysts need to be proficient in various digital tools and technologies. They frequently use data from CRM systems, Google Analytics, HubSpot, SEMrush, and internal databases to inform their marketing approaches.
Project management. It’s common for marketing specialists to manage numerous initiatives simultaneously, so project management skills are essential.
Creativity. Market research analysts use their creative talent to design innovative research methodologies and marketing tactics.
Brand management. Ensuring that marketing tactics improve the target audience’s perception of the brand requires marketing know-how, ingenuity, and adaptability.
Social media marketing. Proficiency in content creation, customer relationship management, and data interpretation allows market research analysts to develop successful social media campaigns.

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Skills and Qualifications for a Thriving Marketing Analyst Career

A marketing analyst must possess both hard and soft skills and creativity to be successful.

Jessica A. Kent

Organizations that want to stay competitive in today’s market use data to guide their decision-making.

Instead of relying on gut instinct or guesswork, data gives organizations insight into what’s working and what needs to be improved. Additionally, the majority of business leaders say that collecting and analyzing data leads to faster, more effective decision-making .

Customer data helps them better understand their audiences to create personalized offers and experiences. Gathering data from across the organization and the industry allows for better optimization of processes and efforts. Technologies like AI can also create more accurate forecasting for the business.

When it comes to marketing, who is managing and analyzing all that data so that an organization can improve its marketing efforts, intelligently spend its budgets, and better target its audiences? A marketing analyst.

If you’re looking at beginning a career as a marketing analyst here’s how to get started.

What Does a Marketing Analyst Do?

A marketing analyst, or a marketing research analyst, is an individual who analyzes an organization’s marketing data to uncover insights that improve marketing efforts.

The analyst identifies ideal audiences for an organization’s products or services, key channels through which to target them, which products customers are buying, and the messaging that best resonates with their audience.

With increased competition among companies, vying for customer attention, marketing departments can no longer rely on generalized messaging efforts.

They must rely on data to target the right customer, at the right time, in the right channel, with the right message. And companies that use data to drive 50% or more of their marketing decisions say they more clearly see the value of their marketing efforts .

A marketing analyst helps bring that value to their organization in the following ways.

Conduct Market Research and Gather Data

A marketing analyst needs data to make recommendations. This can come from a variety of sources, including:

How many people clicked on a display ad over a given campaign length.
How many customers signed up for a loyalty program that was driven by a promotion.
Other marketing campaign metrics.
Directly from the customer (zero- or first-party data).
Gathered from other companies or aggregate sites (second- and third-party data).
Data about the market as a whole.
Overall purchasing behaviors.
Customer buying trends.

Analyze and Interpret Data

A marketing analyst will analyze and interpret that data to answer questions, looking for patterns or connections that show whether or not one action impacted another, e.g identifying if an ad resulted in a purchase, including all the specific conditions impacting that causality.

Today, marketing analysts have a number of tools available to them, from basic in-platform analytics as on Google or Facebook, to native analytics in customer relationship management tools such as Salesforce or HubSpot, to higher-level statistical tools such as R or Tableau.

These tools run data sets and generate data visualizations charts and graphs to show correlations and connections in the data, providing insights for the marketing analyst.

Communicate Results and Identify Opportunities for Growth

With the data analyzed and its insights extrapolated, the analyst will communicate key insights to the greater marketing department and leadership team.

The ideal reports tell a story about the data, such as which marketing efforts were successful or not, and provide meaningful visualizations generated by the tools.

Putting It All Together

A footwear company rolls out a two-week paid advertising campaign across search and social, with the goal for customers to purchase a new sneaker. At the end of the campaign, their marketing analyst gathers the data collected on customer actions.

The marketing analyst runs the data sets through their analysis tools, and learns the following:

More people clicked on the social media ad than the search display ads.
Of the people who saw the social media ad, half clicked on it.
Of those who clicked on the ad and were brought to the website, half purchased the product.

After collecting the data and gathering the insights from that data, the marketing analyst develops a set of recommendations for the company’s next campaign. For example:

With social media ads being more effective than display, future marketing budgets should invest a higher percent in social.
However, to increase the click rate on social media ads, the marketing department should research tighter targeting of customers.
In addition, because only half of those who made it to the website purchased, leadership should investigate what led to the audience drop-off — confusing wording, price point, difficult navigation, or something else that might impact the sale.

Now, the footwear company is ready to create a revised, better targeted campaign based on what they learned. They know how to spend their budget more efficiently, how to more accurately target their customers, and what actions to take to increase their sales — all based on the market analyst’s efforts.

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Marketing Analyst Job Outlook

As data analytics and business insights become a key component of organizational strategy, marketing analysts roles will be in high demand.

As of 2023, the United States Bureau of Labor Statistics estimates that marketing analyst roles are growing at 19% , a faster rate than the average occupation’s growth. Glassdoor estimates that the annual salary of a marketing analyst is $65,109 , and could be upwards of $107,000 (average). Marketing analyst roles can be found in nearly every industry.

Typically, a bachelor’s degree is required for a marketing analyst career in a subject like statistics, math, marketing, or business administration. However, those interested in marketing analytics can also expand their knowledge through courses and experience.

What Skills Are Needed to Become a Great Marketing Analyst?

A marketing analyst must possess a number of skills to be successful, including hard and soft skills and creativity. Here are just a few of the skills a marketing analyst should have to position themselves for success.

Data Analytics Skills

Fundamentally, a marketing analyst needs to know how to analyze data, the basics of statistical analysis, how to use analytics tools, attribution modeling, and forecasting.

The role is numbers-heavy, so this role will be best for someone who loves analyzing data, finding patterns, and extracting stories from that data.

Marketing analysts are inherently curious; they want to know what insights and answers they can find in the data. They also possess a curiosity around finding ways to improve marketing efforts.

Foundational Marketing Knowledge

A marketing analyst must know about marketing principles and practices, like how to promote a product or service, which channels to use, how to run campaigns, how to segment audiences, and more.

Gathering Research and Data

A marketing analyst must know how to conduct industry research, including customer buying habits and competitor tactics. They also need to know the methods in which to gather data on their audiences, including how to track behaviors, preferences, and actions.

Effective Communication and Storytelling

A marketing analyst must possess great communication skills to articulate their findings to others through both written reports and verbal communications, and how to tell the story around the data to help others understand their findings.

Getting Started as a Marketing Analyst

A marketing analyst is an in-demand, growing career — and a great fit for those who enjoy working with data and statistics. If you’re looking to grow your career as a marketing analyst, start with the following:

Take a Marketing Analytics Course or Program

While it’s not necessarily required, many marketing analysts have a degree or certification in marketing or data analysis.

If you desire to grow your skill set, look for courses not only in marketing analytics, but in how to use specific tools you’ll need as a marketing analyst, like Tableau.

You also have the opportunity to learn more in Harvard DCE Professional & Executive Development’s “ Marketing Analytics Online Course: Strategies for Driving Business Results .”

Gain Real-World Experience

You can also gain experience on the job. Data analysis isn’t just confined to the marketing department, and many different roles across different organizations may have a data analysis component to it where you can learn the basics of analysis and interpretation. Or build your experience by taking on freelance projects that can grow your skills as well.

Learn How to Use Marketing Tools and Stay Up-to-Date with Trends

Marketing analysts have an incredibly timely job, responding to customer behaviors and industry trends that are constantly changing, as well as forecasting the future of the industry.

Evolving technology provides marketing analysts with new tools and approaches to help them better analyze and interpret data for useful application. Grow your skills and knowledge by keeping up with technology and trends, and how they can be applied to your efforts.

Next Steps: “Marketing Analytics Online Course: Strategies for Driving Business Results”

If you’re interested in learning more about marketing analytics and gaining hands-on experience in how to do it, Harvard DCE Professional & Exectuive Development’s “ Marketing Analytics Online Course: Strategies for Driving Business Results ” can help you.

Designed for business leaders who want to understand more about how to use data to drive their decision-making, this online course will give you a comprehensive understanding of marketing analytics and how it applies to your business.

It will also give you exposure to analysis technologies, how to collect data, how to look at various marketing metrics, and how to tell a story around the data you find.

Explore all Harvard DCE Professional & Exectuive Development programs

About the Author

Jessica A. Kent is a freelance writer based in Boston, Mass. and a Harvard Extension School alum. Her digital marketing content has been featured on Fast Company, Forbes, Nasdaq, and other industry websites; her essays and short stories have been featured in North American Review, Emerson Review, Writer’s Bone, and others.

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Market Research Analyst

Market research analysts study consumer preferences, business conditions, and other factors to assess potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price.

Market research analysts typically do the following:

Monitor and forecast marketing and sales trends
Measure the effectiveness of marketing programs and strategies
Devise and evaluate methods for collecting data, such as surveys, questionnaires, and opinion polls
Gather data on consumers, competitors, and market conditions
Analyze data using statistical software
Convert data and findings into tables, graphs, and written reports
Prepare reports and present results to clients and management

Market research analysts gather data and study other information to help a company promote its products or services. They gather data on consumer buying habits, demographics, needs, and preferences. They collect data and information using a variety of methods, such as focus groups, interviews, literature reviews, market analysis surveys, public opinion polls, and questionnaires.

Analysts help determine a company’s position in the marketplace by researching their competitors and studying their marketing methods, prices, and sales. Using this information, analysts may determine potential markets, product demand, and pricing. Their knowledge of the targeted consumer enables analysts to develop advertising brochures and commercials, product promotions, and sales plans.

Market research analysts evaluate data using statistical techniques and software. They must interpret what the data mean for their client, and they may forecast future trends. They often make charts, graphs, infographics, and other visual aids to present the results of their research.

Workers who design and conduct surveys that market research analysts use are survey researchers.

Market research analysts held about 792,500 jobs in 2021. The largest employers of market research analysts were as follows:

Management, scientific, and technical consulting services	11%
Finance and insurance	10
Management of companies and enterprises	7
Wholesale trade	7
Publishing industries (except Internet)	4

Because most industries use market research, these analysts are employed throughout the economy.

Market research analysts work individually or as part of a team, collecting, analyzing, and presenting data. For example, some analysts work with graphic designers and artists to create charts, graphs, and infographics summarizing their research and findings.

Work Schedules

Most market research analysts work full time during regular business hours.

Market research analysts typically need a bachelor’s degree. Some employers require or prefer that job candidates have a master’s degree. Strong research and analytical skills are essential.

Market research analysts typically need a bachelor's degree in market research or a related business, communications, or social science field.

Courses in statistics, research methods, and marketing are important for prospective analysts. Courses in communications and social sciences, such as economics or consumer behavior, are also helpful.

Some employers of market research analysts require or prefer a master’s degree. Several schools offer graduate programs in marketing research, but analysts may choose to complete a bachelor’s degree in another field, such as statistics and marketing, and earn a master’s degree in business administration (MBA). A master’s degree is often required for leadership positions or positions that perform more technical research.

Licenses, Certifications, and Registrations

Analysts may pursue certification, which is voluntary, to demonstrate a level of professional competency. The Insights Association offers several certifications for market research analysts, including the IPC Principal and the IPC Masters. Candidates qualify based on industry experience and passing an exam.

Other Experience

Completing an internship while in school may be helpful. Prospective analysts also may gain experience by volunteering for an organization and helping with market research or related projects.

Employers may prefer to hire candidates who have experience in other positions that require collecting and analyzing data or writing reports to summarize research.

Market research analysts typically have an interest in the Thinking, Persuading and Organizing interest areas, according to the Holland Code framework. The Thinking interest area indicates a focus on researching, investigating, and increasing the understanding of natural laws. The Persuading interest area indicates a focus on influencing, motivating, and selling to other people. The Organizing interest area indicates a focus on working with information and processes to keep things arranged in orderly systems.

If you are not sure whether you have a Thinking or Persuading or Organizing interest which might fit with a career as a market research analyst, you can take a career test to measure your interests.

Market research analysts should also possess the following specific qualities:

Analytical skills. Market research analysts must be able to understand large amounts of data and information.

Communication skills. Market research analysts need strong communication skills when gathering information, interpreting data, and presenting results to clients.

Critical-thinking skills. Market research analysts must assess all available information to determine what marketing strategy would work best for a company.

Detail oriented. Market research analysts must be detail oriented because they often do precise data analysis.

The median annual wage for market research analysts was $63,920 in May 2021. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $37,570, and the highest 10 percent earned more than $128,320.

In May 2021, the median annual wages for market research analysts in the top industries in which they worked were as follows:

Management of companies and enterprises	$79,640
Publishing industries (except Internet)	79,450
Finance and insurance	76,650
Wholesale trade	64,090
Management, scientific, and technical consulting services	62,650

Employment of market research analysts is projected to grow 19 percent from 2021 to 2031, much faster than the average for all occupations.

About 99,800 openings for market research analysts are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.

Employment growth will be driven by an increasing use of data and market research across many industries. These workers will be needed to help understand the needs and wants of customers, measure the effectiveness of marketing and business strategies, and identify the factors affecting product demand.

The increase in the collection and analyses of big data—extremely large sets of information, such as social media comments or online product reviews—can provide insight on consumer behaviors and preferences. Businesses will need market research analysts to conduct analyses of the data and information.

For more information about market research analysts, visit

Insights Association

For resources and information about qualitative research, visit

Qualitative Research Consultants Association (QRCA)

Where does this information come from?

The career information above is taken from the Bureau of Labor Statistics Occupational Outlook Handbook . This excellent resource for occupational data is published by the U.S. Department of Labor every two years. Truity periodically updates our site with information from the BLS database.

I would like to cite this page for a report. Who is the author?

There is no published author for this page. Please use citation guidelines for webpages without an author available.

I think I have found an error or inaccurate information on this page. Who should I contact?

This information is taken directly from the Occupational Outlook Handbook published by the US Bureau of Labor Statistics. Truity does not editorialize the information, including changing information that our readers believe is inaccurate, because we consider the BLS to be the authority on occupational information. However, if you would like to correct a typo or other technical error, you can reach us at [email protected] .

I am not sure if this career is right for me. How can I decide?

There are many excellent tools available that will allow you to measure your interests, profile your personality, and match these traits with appropriate careers. On this site, you can take the Career Personality Profiler assessment, the Holland Code assessment, or the Photo Career Quiz .

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Market Research Analyst job description

A Market Research Analyst collects and analyzes data on consumers, competitors, and the marketplace. They provide insights and recommendations to support decision-making, identify market trends, and improve competitiveness. Strong analytical skills, knowledge of statistical packages, and excellent communication are essential.

Eleni, ex-People Ops Manager at Workable, excelled in recruitment, lifecycle management, and employer branding.

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This Market Research Analyst job description template is optimized for posting on online job boards or careers pages and easy to customize for your company.

What is a Market Research Analyst?

A Market Research Analyst is a professional who collects and analyzes data on consumers, competitors, and the marketplace. They interpret the findings to provide valuable insights and recommendations to businesses for informed decision-making and to identify market trends and opportunities.

What does a Market Research Analyst do?

A Market Research Analyst conducts research and gathers data using various methods such as surveys, interviews, and data analysis tools. They analyze the collected data, interpret trends, and provide reports and presentations to clients or internal stakeholders. They play a crucial role in helping businesses understand consumer preferences, market dynamics, and competitive landscape to drive strategic decision-making and improve overall business performance.

Market Research Analyst responsibilities include:

Collecting data on consumers, competitors and market place and consolidating information into actionable items, reports and presentations
Understanding business objectives and designing surveys to discover prospective customers’ preferences
Compiling and analyzing statistical data using modern and traditional methods to collect it

Want to generate a unique job description?

Looking for a job.

We are seeking a detail-oriented Market Research Analyst to conduct surveys and analyze customer preferences and statistical data.

Your role will involve providing valuable insights to support customers in their decision-making processes related to product designs, pricing, and promotions.

As a successful Market Research Analyst, you will have the ability to independently analyze qualitative data, identify trends, assess strategies, and evaluate competition, with the ultimate goal of enhancing competitiveness.

Your responsibilities will include gathering and interpreting market research data, generating reports, and presenting findings to stakeholders.

We are looking for a self-motivated professional with strong analytical skills and a deep understanding of market dynamics.

Join our team and contribute to our company’s success by helping us make data-driven decisions to optimize our products and strategies.

Responsibilities

Collect data on consumers, competitors and market place and consolidate information into actionable items, reports and presentations
Understand business objectives and design surveys to discover prospective customers’ preferences
Compile and analyze statistical data using modern and traditional methods to collect it
Perform valid and reliable market research SWOT analysis
Interpret data, formulate reports and make recommendations
Use online market research and catalogue findings to databases
Provide competitive analysis on various companies’ market offerings, identify market trends, pricing/business models, sales and methods of operation
Evaluate program methodology and key data to ensure that data on the releases are accurate and the angle of the release is correct
Remain fully informed on market trends, other parties researches and implement best practices

Requirements and skills

Proven Market Research Analysis experience
Ability to interpret large amounts of data and to multi-task
Strong communication and presentation skills
Excellent knowledge of statistical packages (SPSS, SAS or similar), databases and MS Office
Search engines, web analytics and business research tools acumen
Familiarity with CRM programs
Adequate knowledge of data collection methods (polls, focus groups, surveys etc)
Working knowledge of data warehousing, modelling and mining
Strong analytical and critical thinking
BS degree in Statistics, Marketing or related field

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Market Research Analyst

Job summary:.

The Market Research Analyst will research, compile, and analyze information on products and market conditions to identify potential new markets, sales opportunities, and the most effective methods of marketing specified products.

Supervisory Responsibilities:

Duties/responsibilities:.

Identifies and defines the objective of an assigned marketing research project; determines the best methods to use to meet those objectives.
Drafts questionnaires, polls, surveys, and other data collection resources.
Researches and compiles data related to current product market, customer demographics and interest, and factors influencing product demand; analyzes results to identify ways of maximizing sales and market penetration of current products.
Compiles data related to competitors products such as pricing, sales, and marketing or distribution methodology.
Summarizes and analyzes data; makes recommendations related to research findings.
Reports findings, complete with graphs illustrating data and written text explaining complex findings.
Identifies potential new products or markets through research.
Forecasts and tracks industry marketing and sales trends based on collected data.
Delivers reports and presentations of findings to management and/or executive leadership.
Performs other related duties as assigned.

Required Skills/Abilities:

Excellent verbal and written communication skills.
Excellent organizational skills and attention to detail.
Superior research and analytical skills.
Ability to translate complex concepts and methodologies into easily understood language.
Proficient with Microsoft Office Suite or related software.

Education and Experience:

Bachelors degree in Marketing Research, Statistics, Math, or related field required; MBA preferred.
Some related experience preferred.

Physical Requirements:

Prolonged periods sitting at a desk and working on a computer.
Must be able to lift up to 15 pounds at times.

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What Does a Market Research Analyst Do?

Learn About the Salary, Required Skills, & More

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Market Research Analyst Salary

Education, Training & Certification
Skills & Competencies

Job Outlook

Work environment, work schedule, comparing similar jobs.

Market research analysts assess consumer preferences to help organizations decide how to shape, advertise, and market their products and services. Many market research analysts work for consulting firms that are hired on a contract basis. Others work directly for employers as part of a marketing team at consumer and product firms.

Approximately 738,000 people worked as market research analysts in the U.S. in 2020.

Market Research Analyst Duties & Responsibilities

Market analysts' responsibilities can depend somewhat on the employer, but they're largely similar:

Devise and evaluate methods for collecting data, such as surveys, focus groups, questionnaires, and opinion polls.
Analyze data using statistical software.
Interpret the data they've collected, organizing this information into statistical tables and reports.
Present their findings to executives and clients through charts, graphs, and other visual means to help them make better-informed decisions about product introductions, modifications, and marketing campaigns.
Create a visual of industry trends and of competitors so organizations can predict how products and services will fare in the marketplace.
Measure effectiveness of marketing programs and strategies.

The industries that most frequently employ market research analysts include management, science, technical consulting services, computer systems design services, and advertising/public relations services.

Salaries can vary depending upon employer and industry. Those who work in the publishing industry tend to be the highest paid, but only marginally over those in company management.

Median Annual Salary: $65,810
Top 10% Annual Salary: More than $127,410
Bottom 10% Annual Salary: Less than $33,80

Education, Training & Certification

Advanced education and certification can help land a job in this occupation.

Education: Market research analysts typically have at least a bachelor's degree in marketing, market research, statistics, computer science, math, social sciences, business administration, communications, or a related field. An MBA or other advanced education isn't required, but it's usually desired for leadership positions.
Certification: Certifications are voluntary but strongly recommended because they help demonstrate professional competency.

The Marketing Research Association provides training and certification to those who qualify.

Market Research Analyst Skills & Competencies

Some qualities and acquired skills will help you succeed at becoming a market research analyst.

Computer skills: Experience with Microsoft PowerPoint and Word, as well as statistical software platforms such as SPSS, WinCross, SAS, and Market Sight, can help with sorting data, as well as creating visual results and trends.
Math and analytical skills: These are essential for analyzing research data.
Confidence : You should be comfortable speaking in front of strangers and presenting results to internal team members and management.
Multitasking capability : You should be able to manage multiple projects with a quick turnaround.
Interpersonal skills: You'll need an ability to work well with all levels of management, internal staff, clients, and vendors.

According to the U.S. Bureau of Labor Statistics, opportunities for market research analysts are expected to grow by 18% from 2016 through 2029, which is much faster than the average for all occupations.

Trends toward using data to understand consumer preferences for products and services and to target marketing to specific consumer niches are chiefly responsible for this projected growth.

This is a diversified position that can require working alone or with a team at any given time. You'll be working with people with a wide variety of skills and talents.

This is a full-time job, normally during regular business hours. Some overtime can be required due to looming deadlines and business volume.

How to Get the Job

LEARN AND APPLY:

The Insights Association has job listings, a networking portal, and it offers a certification program that can add immeasurably to your resume. Also check the top job boards for available positions.

DRAFT THE PERFECT RESUME:

Your resume is your first introduction to a prospective employer, and a good one can't be overrated. Learn tips and techniques for making yours perfect.

INCLUDE RELEVANT SKILLS IN YOUR COVER LETTER:

If the job requests a cover letter , use two to three short paragraphs to describe past projects where you successfully performed market research.

Here's the estimated annual earning for similar occupations.

Cost estimator : $66,610
Economist : $108,350
Public relations specialist : $62,810
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How to Become a Market Research Analyst

By Alyciah Beavers

Published: March 19, 2024

In today’s ever-evolving business landscape, organizations strive to make informed decisions that will propel them toward success, and this is where a market research analyst role is crucial. The career suits anyone who wants to become a master of data, a sleuth of consumer behavior, and a guardian of market insights. Read on to understand what is a market research analyst and if this career might be the right choice for you.

Career Summary

Market research analyst salary.

Here is a general trajectory of market research analyst salary, according to Glassdoor.com :

Entry Salary (US$56k)
Median Salary (US$71k)
Executive Salary (US$100k)

To put this into perspective, the annual average wage for all occupations in the US is $61,900 . This means that, based on your level, you can make some excellent cash as a market research analyst.

Market Research Analyst Job Description

So, what does a market research analyst do? A market research analyst collects, analyzes, and interprets data to provide insights and recommendations on market trends and consumer behavior to a business . Their main objective is to help businesses make informed decisions regarding their products, services, and marketing strategies. Additionally, a market research analyst conducts market analysis and assists companies in understanding the products people want and how to price them.

Market Research Analyst Career Progression

Entry-Level Analyst: It is the starting point for most market research analysts. At this stage, your roles involve assisting more senior analysts in conducting research, collecting data, and analyzing market trends. Your role also entails preparing reports and presentations.
Research Analyst: You have more independence and take on greater responsibility for designing research methodologies, managing data collection, and conducting analysis.
Senior Analyst: You have a deeper understanding of market research methodologies, advanced analytical techniques, and industry-specific knowledge.
Supervisor: Here, your role involves overseeing multiple research projects, managing a team of analysts, and contributing to high-level decision-making. You are responsible for resource allocation, project planning, and client management.
Head of Market Research: You are responsible for shaping the overall research strategy, guiding the research team, and collaborating with senior executives to align research efforts with business goals. You are also involved in budgeting, business development, and fostering relationships with clients and stakeholders.

It simulates intellectual intelligence, where you develop your critical and problem-solving skills.
It gives you the proper industry exposure since you work with clients from diverse industries.
The career offers continuous learning opportunities since market research is a rapidly evolving field.
As a marketing analyst, you can comfortably tackle complex business problems.
It offers a collaborative environment where you work as a team with other people, such as marketing professionals, statisticians, data scientists, and business executives.
Some tasks are monotonous as they involve collecting and analyzing large amounts of data, which can sometimes be tedious.
Market research often operates on tight deadlines, requiring analysts to work under pressure to meet project timelines.
At times there is limited creativity, whereby some analysts may feel constrained when developing innovative solutions or exploring unconventional approaches.
The industry is competitive, so analysts need to stay updated constantly on the trends and consumer behaviors.
There is a lot of data overload, which is overwhelming and challenging to navigate.

Useful Skills to Have As a Market Research Analyst

As a market research analyst, several useful skills can enhance your abilities and contribute to your success in the field, including:

Research and Analytical Skills
Data Interpretation and Statistical Analysis
Critical Thinking Skills
Strong Communication Skills
Problem-Solving Abilities
Technological Proficiency

Popular Market Research Analyst Specialties

Market research analysts specialize in various areas depending on the industry and the specific needs of their clients or employers.

There are some popular specialties within the field of market research analysis:

Consumer Behavior
Market Segmentation
Competitive Analysis
Brand Research
Product Development
Market Trend Analysis

How to become a Market Research Analyst

Market Research Analyst 5 Steps to Career

The right way to become a market research analyst is through education, relevant work experience, and specific skills. While the exact path can vary depending on individual circumstances, here are some common steps to help you pursue a career in market research analysis.

Obtain a Degree in a Relevant Field

Do i need a degree to become a market research analyst.

While having a degree is not always a strict requirement to become a market research analyst, it can significantly enhance your prospects and competitiveness in the job market. Many employers prefer candidates with a bachelor’s degree, particularly in fields such as market research, business administration, statistics, economics, or social sciences .

Why Is It Important to Get A Degree In Market Research or a Related Field?

While it’s not always a strict requirement, obtaining a degree offers numerous advantages. A relevant degree equips you with the foundational knowledge and analytical skills necessary for market research analysis, as well as the skills to analyze complex data sets, use statistical tools and software, and derive meaningful conclusions.

A degree program can provide a comprehensive understanding of research methodologies, statistical analysis, consumer behavior, data interpretation, and marketing principles. These skills are essential for conducting adequate market research and making informed decisions based on the collected data.

Furthermore, some employers may specifically request a degree or prefer candidates with higher qualifications for specific positions or in highly competitive job markets.

Additionally, having a degree can serve as evidence of your commitment, discipline, and ability to acquire and apply knowledge, which can be valuable to potential employers.

How Long Does It Take To Get A Degree?

The duration of a degree program in market research analysis can vary depending on several factors, including the degree level and the educational institution’s structure:

Associate’s Degree: An associate’s degree generally takes around two years to complete . This program provides a foundational understanding of market research principles and techniques.
Bachelor’s Degree: A bachelor’s degree typically requires four years of full-time study . Students delve deeper into market research methodologies, data analysis, and related business courses during this program.
Master’s Degree: Pursuing a master’s degree in market research takes two years beyond the bachelor’s degree . This program focuses on advanced research techniques, data analysis, consumer behavior, and marketing strategy.
Doctoral Degree: A Ph.D. or doctoral degree in market research analysis can take an additional four to six years of study beyond the master’s degree . The programs emphasize research, theory development, and advanced methodologies. These degrees are more suited for individuals interested in academic or research-oriented careers.

How Much Does It Cost to Study Market Research Analysis at University?

The cost of studying market research analysis at a university can vary widely depending on factors such as the country, the specific university, the level of study, undergraduate or postgraduate. Additionally, tuition fees can change over time, so it’s essential to check with the specific university or college for the most accurate and up-to-date information. Here is a breakdown as of 2022:

Undergraduate marketing research program tuition for an in-state student is US$12,020, while an out-of-state student pays US$28,345.
A graduate market research in-state student pays US$13,864, while an out-of-state student pays US$24,560.

Can I become a Market Research Analyst Through Online Education?

Yes, online education makes it possible to become a market research analyst . The web offers numerous resources and programs in multiple fields, including market research, with flexible learning hours.

Look for accredited online courses, certificate programs , or degree programs in market research, marketing, business, statistics, or related fields. Ensure that the program you choose is from a reputable institution.

Gain Practical Experience

Practical experience complements theoretical knowledge and helps you demonstrate your skills and abilities to potential employers. Seeking opportunities to apply your knowledge and skills in realistic settings and continuously striving to expand your expertise through hands-on experience in market research is the only way to go. Some ways involve volunteering and interning in different corporations to gain hands-on experience.

What are Internship Opportunities for A Market Research Analyst?

As a market research analyst, several internship opportunities are available to gain practical experience and develop your skills.

Here are some potential avenues to explore:

Market Research Firms: Many market research companies offer internship programs tailored explicitly for aspiring analysts. These firms research for various clients and industries, exposing interns to multiple projects and methodologies.
Corporate Internships: Numerous companies, especially larger ones, have in-house market research departments. These organizations often offer internships to support their research activities, allowing you to work directly with their marketing teams and gain industry-specific insights.
Advertising and Marketing Agencies: Advertising and marketing agencies frequently require market research to inform their strategies and campaigns. Interning with such agencies can expose you to diverse projects and clients, enhancing your understanding of how research drives marketing decisions.
Technology Companies: Tech companies, particularly those involved in data analytics and consumer insights, often offer internships for market research analysts. These opportunities can provide exposure to innovative tools, techniques, and datasets, allowing you to develop skills in the intersection of technology and market research.
Consulting Firms: Consulting firms may have market research divisions or projects to which interns can contribute. These firms work with clients to provide strategic advice; market research is critical to their decision-making processes.
Government Agencies: Government agencies often conduct market research to inform policy decisions, public campaigns, and program evaluations. Interning with a government agency can provide insights into the unique challenges and considerations of conducting research within the public sector.

To find internship opportunities , consider exploring online job boards, company websites, and professional networking platforms and contacting your university’s career services department. Networking with professionals in the field, attending industry events, and joining relevant market research associations or groups can also help you discover internship opportunities.

What Skills Will I Learn As A Market Research Analyst?

As a market research analyst, you will develop various skills to effectively gather, analyze, and interpret data to support business decision-making.

Here are some essential skills you can expect to learn and enhance in this role:

Research Design: You will learn how to design research studies and formulate appropriate research questions and objectives.
Data Collection: You will acquire skills in collecting data through surveys, interviews, focus groups, and observational studies. This includes developing questionnaires, conducting interviews, and managing data collection processes.
Data Analysis: You will gain proficiency in analyzing data using statistical techniques, data visualization tools, and software packages like Excel, SPSS , or R . This involves interpreting quantitative and qualitative data, identifying patterns and trends, and drawing meaningful insights.
Market Analysis: You will learn to assess market trends, customer behavior, and competitive landscapes. This includes conducting competitor analyses, market segmentation, and identifying target markets.
Report Writing: You will develop strong written communication skills to effectively communicate research findings and insights through reports, presentations, and visualizations. This involves summarizing complex data into clear and actionable recommendations.
Critical Thinking: You will enhance your ability to think critically and analytically, evaluate research methodologies, assess data quality, and identify potential biases or limitations in research findings.
Problem-Solving: As a market research analyst, you will learn to identify business problems, formulate research objectives, and develop strategic solutions based on data-driven insights.
Collaboration: You will develop teamwork and collaboration skills, as market research often involves working with cross-functional teams, stakeholders, and clients to understand their needs and deliver actionable results.
Technology and Tools: You will become proficient in utilizing market research tools, software, and technologies to enhance data collection, analysis, and reporting. This may include data analytics platforms, survey software, CRM systems , and visualization tools.
Industry Knowledge: You will gain deep knowledge and understanding of the industry or market you are researching, including key trends, regulations, and emerging opportunities.

What are Some Web Resources to Learn Skills to Become a Market Research Analyst?

Several web resources can help you acquire the necessary knowledge and skills.

Here are some useful platforms and websites you can explore:

MarketResearch.com : This website offers various market research reports and articles covering multiple industries. It can help you understand different research methodologies, industry trends, and analysis techniques.
GreenBook : GreenBook provides a platform for market research professionals and offers industry news, reports, webinars, and online resources. It covers topics such as research techniques, data analysis, and emerging trends in the field.
American Marketing Association (AMA) : The AMA website provides valuable resources and tools for marketers, including market research-related content. It offers articles, white papers, webinars, and events that enhance your understanding of market research concepts and practices.
Research Association (ESOMAR) : ESOMAR is a global association for market, opinion, and social research professionals. Their website offers a comprehensive library of resources, including industry reports, webinars, and guidelines for conducting market research.
Quirks : Quirks is a website that offers market research articles, case studies, and industry news. It covers various topics like survey design, data analysis, and emerging methodologies. They also have a directory of market research vendors and services.
Research World : Research World is an online publication covering recent trends and developments in the market research industry. It provides articles, case studies, and insights from industry experts, which can be valuable for learning and staying updated.

Obtain Certifications

Consider pursuing additional certifications or courses in market research, data analysis, or relevant areas to enhance your knowledge and marketability. While there is no single universal certification for market research analysts, several reputable organizations offer certifications that can enhance your credentials.

Some popular certifications include:

Certified Market Research Professional (CMRP) : This is a widely recognized certification that demonstrates a market research analyst’s expertise in research methodologies, ethics, and data analysis. It signifies a commitment to high professional standards and best practices in the field. Earning the CMRP can enhance your credibility, increase your chances of landing job opportunities, and potentially lead to higher earning potential.
Professional Researcher Certification (PRC) : The PRC certification validates a market researcher’s knowledge, skills, and ethical practices. It covers a broad range of market research topics, including research design, data collection, analysis, and reporting. Holding the PRC designation demonstrates your commitment to professional excellence and adherence to industry standards.
Google Analytics Individual Qualification (GAIQ) : While not specific to market research, the GAIQ certification is highly relevant for market research analysts who deal with website data and analytics. It showcases proficiency in using Google Analytics, a widely used tool for analyzing website traffic and user behavior. GAIQ certification can be valuable in demonstrating your ability to interpret web data, track consumer interactions, and optimize online marketing strategies.

It’s important to note that, to take the exam and become certified, you must meet eligibility requirements. Some might require a bachelor’s degree in a relevant field such as marketing, business, or statistics and a specific number of years of experience working in market research or a related area.

What’s the Career Outlook for Market Research Analysts?

As of 2021, the career outlook for market research analysts is generally positive, and the field will continue to experience steady growth. Researchers estimate that there will be a 19% growth from 2021 to 2031, which is way faster than any other occupation.

However, please note that economic and industry trends can change over time, so it’s always a good idea to consult up-to-date sources and labor market data for the most accurate information.

Some of the factors contributing to the positive career outlook for market research analysts include:

Increasing Demand: With the rise of technology and data-driven decision-making, there is a growing need for skilled professionals who can interpret and analyze market data. Businesses across various industries rely on market research to gain a competitive edge, expand their customer base, and identify new market opportunities.
Globalization and International Markets: As companies expand their operations globally, understanding diverse markets and consumer behaviors becomes crucial. Market research analysts with expertise in international markets and cultural nuances can offer valuable insights and are in high demand.
Emphasis on Data-Driven Decision-Making: Organizations increasingly rely on data to drive their strategies in today’s data-driven business landscape. Companies seek market research analysts who can effectively collect, analyze, and interpret data using advanced analytical tools and techniques.
Technological Advancements: Advancements in technology, such as big data analytics, artificial intelligence, and machine learning, are revolutionizing the field of market research. Professionals who can adapt to these technological changes and utilize them to extract actionable insights will likely have strong career prospects.

Market Research Analyst Popular Career Specialties

What Are The Job Opportunities Of A Market Research Analyst?

Market research analysts have a wide range of job opportunities across various industries. Their primary responsibility is to gather and analyze data to help organizations make informed business decisions.

Luckily, there are many other job opportunities within the field of market research analysis that a market research analyst can do:

Market Research Analyst: This is the primary role of a market research analyst where they collect and analyze data to identify market trends, consumer behavior, and competitive landscape. They design surveys, conduct interviews, and use statistical techniques to interpret the data and generate actionable insights for decision-making.
Market Intelligence Specialist: In this role, you would focus on gathering and analyzing data related to the industry, competitors, and market conditions. You would monitor market trends, track competitor activities, and provide strategic recommendations to support business development, product positioning, and market entry strategies.
Consumer Insights Analyst: As a consumer insights analyst, you would delve into understanding consumer behavior, preferences, and attitudes. You would employ various research methods such as surveys, focus groups, and interviews to gather data and then analyze it to uncover consumer insights. These insights help companies develop effective marketing strategies and refine product offerings.
Data Analyst : Data analysis is an essential aspect of market research, and as a data analyst, you would specialize in processing, organizing, and interpreting large datasets. You would use statistical techniques, data mining, and visualization tools to extract meaningful patterns and trends. Your findings would assist in making informed business decisions and optimizing marketing campaigns.
Market Research Consultant: In a consulting role, you would work with clients from different industries to provide expert market research guidance. You would conduct comprehensive market studies, assess competitive landscapes, and deliver strategic recommendations based on your analysis. Consultants often work on a project basis and collaborate closely with clients to address specific business challenges.
Brand Strategist: Brand strategists combine market research insights with creative thinking to develop and implement effective branding strategies. You would analyze consumer perceptions, market positioning, and competitive landscape to define brand identities, messaging, and marketing campaigns that resonate with target audiences.

What Type Of Companies Hire A Market Research Analyst?

Market research analysts are in demand across various industries and sectors.

Some of the companies that hire market research analysts include:

Market Research Firms: These specialized firms conduct market research for clients across different industries.
Consumer Goods Companies: Companies that produce and sell consumer goods often employ market research analysts to gather insights on consumer preferences, market trends, and product performance.
Technology Companies: Technology companies, especially those involved in software development, electronics, and telecommunications, rely on market research analysts to understand customer needs, evaluate competition, and assess market potential.
Healthcare and Pharmaceutical Companies: These companies require market research analysts to study patient demographics, evaluate the efficacy of drugs, analyze healthcare trends, and assess market opportunities.
Financial Institutions: Banks, insurance companies, and investment firms hire market research analysts to analyze market trends, identify investment opportunities, and assess customer preferences.
Advertising and Marketing Agencies: Agencies that offer advertising, branding, and marketing services often have market research analysts on their teams to provide insights for developing effective strategies and campaigns.
Retail Companies: Retailers employ market research analysts to understand consumer behavior, analyze purchasing patterns, and identify market opportunities.
Media and Entertainment Companies: Media companies, including television networks, film studios, and streaming platforms, use market research analysts to understand audience preferences, gauge viewership, and identify potential content opportunities.

What Is The Work-Life Balance Of A Market Research Analyst?

A market research analyst’s work-life balance can vary depending on company culture , industry, workload, and personal preferences. Generally, market research analysts strive to maintain a balanced lifestyle, but the actual balance achieved can differ from person to person.

The working hours of market research analysts involve standard office hours, 9 am to 5 pm, or similar. However, there may be times when they need to perform additional hours to meet project deadlines or during busy periods. Therefore, this affects how these individuals maintain their work and social life.

However, there is also a lot of flexibility in this job. Depending on the company and specific job requirements, market research analysts may have some flexibility in their work arrangements. This could include options for remote work , flexible schedules, or compressed work weeks. Flexibility can contribute positively to achieving a better work-life balance.

The workload varies based on the organization’s demands and the projects involved at different quarters of the year. There may be periods with high-intensity work where you should meet the deadlines, which could affect your work-life balance. However, there may also be quieter periods with a more manageable workload. Balancing workload, managing deadlines, and effectively communicating with stakeholders can help alleviate stress and improve work-life balance.

Personal factors such as individual preferences, commitments, and priorities significantly affect work-life balance. Some market research analysts may prioritize their personal lives, hobbies, or family time more, while others may focus more on their careers. Individuals must assess and prioritize their needs to achieve the desired work-life balance.

Ultimately, achieving a good work-life balance as a market research analyst involves finding a suitable position with a supportive company culture, managing workload and stress effectively, and establishing personal boundaries to ensure time for personal life outside of work.

Should I become a Market Research Analyst?

If you have a passion for market research, understanding market trends, and delving into the factors that influence consumers’ life decisions, this is the perfect career for you. It’s important to make an informed decision based on your interests, skills, and long-term goals. Notably, there will be over 99,800 job openings for market research analysts each year for the next decade leading to this job increase. Therefore, if you’re looking to invest in a promising career for the future, this is the ideal path to pursue.

Careers Related to Market Research Analyst

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How to become a market research analyst

Marketing is an essential aspect of any organization. It serves to increase awareness, sell products or services and drive interest. Without marketing, a business may have a hard time surviving among the competition.

This field involves complex and detailed sets of tasks that rely heavily on data. Every great marketing department and their resulting strategies rely on exceptional market research analysts to collect, compile and communicate data-driven insights with the rest of the team. These insights assist everyone involved to carry out more effective and efficient marketing strategies.

What does a market research analyst do?

Market research analysts work closely with creative, advertising, sales and executive leadership to manage and analyze detailed information on an organization’s industry, competitors, consumers and products.

The role of a market research analyst is integral to almost every business. They assemble critical data about market conditions and consumers to help businesses market products and services in a way that resonates with specific consumer audiences.

Daily activities for market research analysts revolve around aggregating data to help their teams build successful marketing strategies. This can include:

Analyzing consumer data and creating digestible graphs, charts and other communications material to share insights with team members.

Consulting on marketing strategies and initiatives based on the data they’ve collected.
Evaluating competitors to understand their marketing efforts, consumers and pricing practices.
Monitoring the performance of marketing programs to guide current and future strategies.
Researching their organization’s market share, consumer sentiment and other marketplace data.

How does a market research analyst gather data?

Market research analysts use a variety of methods such as focus groups, surveys and public poll opinions to gather data and consumer insights. Some of these consumer and market insights include:

Attitudes towards competitors.
Demographics.
Marketing trends.
Purchasing behavior.

With these insights, market research analysts answer questions about consumer behavior and product preferences, as well as recommend solutions. Some of these questions may include:

Who are our customers?
What do they want?
Why do they want it?
How much are they willing to pay for it?

Determining answers to these questions ultimately informs marketing analysts of how they’ll apply data to marketing initiatives, thus improving a business’s profitability and customer loyalty.

Market research analyst salary and career outlook

According to the U.S. Bureau of Labor Statistics (BLS), the median wage for market research analysts was $63,920 per year in 2021.

The BLS also reported that growth in this profession is projected at an above-average rate of 19% from 2021 to 2031 — much faster than the average. This is likely the result of companies continuing to focus on marketing initiatives and other efforts to better understand their consumers.

A market research analyst is just one role in the much larger field of marketing and analytics. Opportunities for career advancement are possible with the appropriate knowledge and work experience. The most direct promotion involves moving into a market research manager position. This is similar to the role of an analyst, except in a managerial capacity with a team of staff who report directly to them.

Additionally, there are market research analysts who have reported promotions into positions such as marketing managers, marketing directors, vice presidents of marketing and other senior-level roles. While many professionals in this career path have undergraduate degrees in marketing, communications or a related field of study, having a graduate degree may increase your hiring potential when applying for such high-level promotions.

ASU Online’s exploratory degree tracks: An option for undecided students

The difference between market research analysts and business analysts.

Market research analysts and business analysts are often conflated; however, they’re different specializations. While market research analysts fall under the umbrella of business analysts, each role requires unique tactics and strategies, as well as separate areas of focus within a business.

Overall, market research analysts keep a pulse on market trends and work with concepts such as shifting consumer behavior and buying patterns. In contrast, business analysts help identify potential gaps in an operation and offer suggestions to improve efficiency and the overall strength of the business — which often involves marketing, but isn’t exclusive to the department.

Key types of research used by market research analysts

To stay on top of behavior shifts and to collect robust, useful data, market research analysts use four main types of research methods.

Primary research

This type of research is one that’s conducted directly by you. It’s most commonly seen in the form of interviews, focus groups and surveys.

Secondary research

Secondary research includes data that’s collected from trusted, existing sources that have conducted their own primary research, such as government statistics, publications, websites and more.

Qualitative research

Qualitative research includes data that’s analyzed primarily by summarizing, categorizing and interpreting different ideas.

Quantitative research

Quantitative research includes data that’s collected by means of math and statistical analysis and often employs strategies such as testing and measurement.

If you’re interested in a career in this field, becoming familiar with these types of research and knowing when and where to use them is critical.

The skills needed to become a market research analyst

A combination of relevant work experience and the right education can aid you in obtaining a market research analyst role. While most hiring managers require a bachelor's degree for this position, a master’s degree may be preferred. This is due to the increased focus on data analysis, information technology and decision-making that’s offered with master’s programs.

The right set of skills is important for any prospective market research analyst. At the forefront of those skills is an advanced knowledge of computer science and data entry tools. Market research analysts are expected to use technology to gather, analyze and disseminate data. They are also expected to share that data in digestible graphs, charts and communications that are understandable by all employees within a company, not just those already well-versed in marketing and analytics.

Key skills for market research analysts include:

Professionals must be able to identify a problem, use data to understand that problem and then present multiple solutions. Strong analytical and critical-thinking skills are a must.

Decision making

Analysts must use data to decide which marketing efforts will be most effective. Their choices will have a substantial impact on business operations and profitability.

Spoken and written communication Working with many different departments and teams requires effective communication skills that appeal to a variety of individuals at all levels within a company. This is especially true when sharing complicated data and presenting it to other departments and leaders.

Strong attention to detail

The collection, analysis and reporting of data must be precise. Having strong attention to detail is essential for market research analysts to ensure that gathered insights are accurate and representative of the target consumer.

Market research analysts should also infuse their work with creativity to bring innovative and imaginative ideas to life through their data analysis. This is accomplished by staying up to date on industry trends and adopting a continuous learning approach to marketing best practices.

Earn your analytics degree from Arizona State University

Becoming a market research analyst requires a solid foundation in both technical and professional skills. For those interested in a career in market research analysis, earning an undergraduate degree in a related field is a great starting point. ASU Online offers many undergraduate degrees that are applicable, such as:

Bachelor of Science in marketing
Bachelor of Science in communication
Bachelor of Science in business data analytics

For those interested in accelerating their professional career, ASU Online also offers the Master of Science in business analytics . This program’s curriculum covers subjects such as data mining and applied analytics while preparing students with the knowledge and skills needed to excel in a market research role.

Everything you need to know about ASU Online classes and degree programs

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Market Research Analyst skills for your resume and career

A market research analyst needs a range of hard skills to excel in their role. They must be proficient in data analysis, using tools like SPSS and SQL. They also need to be able to analyze data, including statistical analysis and quantitative research. Additionally, they need to be skilled in market research, including primary research and market trends. As Dr. Claire Gilliland PhD , Assistant Professor at Furman University, puts it, "The skills we prioritize in sociology (generating research questions, thinking critically, examining social systems, analyzing multiple types of data) are all skills that are well-suited to multiple different careers."

Soft skills are equally important for a market research analyst. They need to be able to manage projects effectively and have strong analytical skills. They also need to be able to communicate their research findings effectively, using tools like PowerPoint. As Dr. Shalini Gopalkrishnan , Visiting Professor at Menlo College, advises, "Be agile, keep an open mind, and learn new things. You will always be a student as the pace of change is rapid."

15 market research analyst skills for your resume and career

1. powerpoint.

PowerPoint is a presentation software used to create and design slideshows. Market research analysts use PowerPoint to present data and findings to clients and stakeholders. They translate data into concise and insightful stories, using PowerPoint to illustrate data graphically and translate complex results into written text. They also use PowerPoint to create presentations of study findings, summarize results for sales representatives, and prepare executive summaries for line of business executives.

Prepared reports, interpreted results and communicated findings using Excel and PowerPoint for client presentations and senior staff speaking engagements.
Translated statistical data into strategic, relevant, concise and insightful PowerPoint data stories and presented to stakeholders.

2. Data Analysis

Data analysis is the process of examining data to draw conclusions and make decisions. Market research analysts use data analysis to understand consumer behavior, track trends, and provide actionable recommendations. They collect and manage data, use statistical software for analysis, and create reports and presentations for clients. As Professor of Sociology Dr. Charlotte Kunkel from Luther College puts it, "Employers will be looking for skills to evaluate evidence and offer solutions. Sociology helps students to develop proficiency in the use of both quantitative and qualitative research methods, conduct scholarly research, gain proficiency in data analysis, and offer solutions at the root of social problems."

Provided full research services for business-to-business and business-to-government data analysis on federal, state and local business and IT needs.
Performed data analysis and supervision of data tabulation as well as supervised interviewers in recruiting and fielding of interviews.

SPSS is a statistical analysis software. Market research analysts use SPSS to analyze data, perform statistical analysis, and create reports. They use SPSS to mine data, create P&L models, and provide consumer insights that drive marketing strategy. They also use SPSS to assess data quality, diagnose issues, and create cross-tab reports for clients.

Analyzed data using descriptive and inferential statistics using multivariate techniques and SPSS Statistics software.
Conducted primary research of aftermarket warranty products and analyzed results using SPSS.

4. Market Research

Market research is the process of gathering data about a target market or customers. Market research analysts use it to provide actionable information, increase sales, and develop new leads. They analyze customer data, formulate conclusions, and present recommendations to management. They also use it to conduct training for sales and marketing teams, perform competitor analysis, and outline competitive environment information for monthly reports.

Utilized primary and secondary sources of market research data to provide actionable information used to increase advertising sales and circulation.
Developed research projects for specific business issues - integrated market research information into company system to develop new leads.

5. Data Collection

Data collection is the process of gathering information from various sources. Market research analysts use data collection to prepare statistical reports, design questionnaires, and automate data collection processes. They also use it to identify and resolve errors, manage research teams, and analyze results. For example, they might use Microsoft Excel to store information for use in publications and by colleagues.

Performed regular data collection and analysis using Microsoft Excel and stored information for use in publications and by colleagues.
Developed data collection, analysis and reporting of clinical pathways, patient satisfaction data and financial data

6. Market Trends

Market trends refer to the patterns and directions in which a particular market is moving. Market research analysts use market trends by analyzing comprehensive commercial real estate information, researching international and domestic market trends, and synthesizing secondary research data. They monitor and report on market trends, including economic, political, social, and regulatory perspectives. They also identify worldwide market trends by analyzing survey results and evaluating secondary research.

Analyze comprehensive commercial real estate information on buildings and development across major regions to better understand capital market trends.
Research, analyze, and prepare reports of international/domestic lumber market trends and fluctuations for submission to executive management.

Choose from 10+ customizable market research analyst resume templates

7. product development.

Product development is the process of creating new or improved goods or services. Market research analysts use product development to learn about competitors, identify market opportunities, and set directions for designing new product features. They also use it to analyze customer satisfaction and provide insights to product development teams. For example, they might conduct quantitative and qualitative research to understand competitor product development and customer satisfaction. This helps them support product development by performing market analysis and competitive analysis.

Conducted quantitative and qualitative research to discover competitor product development, financial models, and user satisfaction to isolate market opportunities.
Created Feasibility Summary for new product development to include Technology Readiness, Manufacturing Capabilities, Resources and Expertise.

8. Analyze Data

Analyzing data is the process of breaking down information to understand patterns and trends. Market research analysts use this skill to gain insight into consumer behavior. They collect and organize data from various sources, create models to understand it, and make recommendations to clients. As Anna Penner , Assistant Professor of Sociology at Pepperdine University, puts it, "the ability to do original research and analyze data. is an asset that you bring to the table."

Used statistical methods to analyze data and extrapolate information that was used in production processes and in marketing and advertising campaigns.
Analyze data and perform calculations and modeling for customized and syndicated projects.

9. Primary Research

Primary research is the collection of original data directly from the source. Market research analysts use primary research to identify customer satisfaction, distribution channels, and inform business strategies. They conduct focus groups, surveys, and public opinion polls to gather this data. They also use primary research to understand treatment algorithms and the effectiveness of current therapies.

Designed primary research for focus groups, surveys and public opinion polls to identify customer satisfaction and distribution channels.
Conducted primary research, both qualitative and quantitative, and summarized secondary research reports for distribution to university executives.

SQL, or Structured Query Language, is a programming language used to manage relational databases. Market research analysts use SQL to create reports, update data, and extract information from databases. They use it to analyze customer portfolios, manage competitor location data, and maintain databases. They also use SQL to write queries, create tables, and resolve issues within production databases.

Retail Portfolio Analysis: Developed/Executed SQL statements to create Retail Customer Portfolio Analysis reports by market.
Maintain competitor location data in SQL Server databases by updating and maintaining data from vendors and other sources.

11. Market Analysis

Market analysis is the process of researching and gathering data to understand a target market or industry. Market research analysts use market analysis to identify trends, opportunities, and challenges. They analyze industry reports, calculate the net present value of potential investments, and conduct surveys to understand what the market can bear. They also prepare reports to help management decide on expanding their portfolio diversification and to support investments.

Performed market analysis of Federal and State regulations involving requirements of expected career paths and potential student demographics in varying locations.
Conducted research and market analysis for strategic business opportunities through federal research labs and tier one defense industry suppliers.

12. Strong Analytical

Strong analytical skills involve the ability to evaluate and interpret data. Market research analysts use these skills to create performance metrics, evaluate portfolio characteristics, and execute market research projects. They leverage their analytical skills to research and retrieve data, and to manage and maintain sector databases and financial models.

Utilize strong analytical skills and database skills to create performance metrics and evaluate various portfolio characteristics, primarily using Excel spreadsheets.
Leverage strong analytical and problem-solving skills.

13. Project Management

Project management is the practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria. Market research analysts use project management to oversee research activities, including project planning, analysis, and presentation development. They also use it to maintain strong client relationships and manage business development opportunities. On a day-to-day basis, project management involves tasks such as moderating qualitative research, managing external vendors, and providing feedback to the project team.

Support research activities for syndicated and single client consulting research projects including project management, analysis and presentation development.
Project management and documentation of training manual procedures for Fixed Income work with query analysis reports.

14. Research Findings

Research findings are the results of an investigation, often based on statistics and data. Market research analysts use research findings to develop reports and make recommendations to senior management. They analyze and interpret the data to identify trends and patterns, and then communicate their findings to relevant parties. As Steven Ross Ph.D. , Professor and Evaluation Director at the Center for Research and Reform in Education at Johns Hopkins University, puts it, "Research findings are complex and nuanced. A researcher/evaluator needs to be an effective communicator, open to alternative views of findings and their implications for practice."

Applied qualitative and quantitative techniques to interpret data, develop reports, and generate substantiated recommendations based on research findings.
Proposed and defined strategic initiatives based on research findings to senior management and product teams.

15. Statistical Analysis

Statistical analysis is the process of collecting and analyzing data to draw conclusions or make decisions. Market research analysts use statistical analysis to identify customer segmentation opportunities, test the effectiveness of marketing campaigns, and provide insights into research results. They use various statistical analysis procedures to profile and segment markets, identify target markets, and create customer promotions. They also use statistical analysis to process and analyze large datasets, often using tools like Excel to code and structure the data.

Conduct insight derivation through profiling, market segmentation, identify target market and create customer promotions using multiple statistical analysis procedures.
Reduce process complexity in customer behavior prediction through statistical analysis of client data and the creation of innovative tools.

12 Market Research Analyst Resume Examples

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List of market research analyst skills to add to your resume

The most important skills for a market research analyst resume and required skills for a market research analyst to have include:

Data Analysis
Market Research
Data Collection
Market Trends
Product Development
Analyze Data
Primary Research
Market Analysis
Strong Analytical
Project Management
Research Findings
Statistical Analysis
Quantitative Research
Financial Analysis
Competitive Analysis
Market Research Data
Market Research Studies
Qualitative Research
Competitive Intelligence
Business Development
Market Intelligence
Swot Analysis
Real Estate
Survey Data
Statistical Data
Quantitative Analysis
Internal Clients
Pivot Tables
Competitive Landscape
Consumer Insights
Research Results
Google Analytics
Competitor Analysis
Business Plan
Customer Demographics
Product Demand
Market Size
Buying Habits
Target Market

Updated June 25, 2024

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

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What Is a Market Research Analyst? (With Duties and Skills)
A market research analyst uses a variety of marketing and statistical software to assess trends, develop charts and graphs and complete basic tasks. Having advanced computer skills can help you use complex software programs for data collection and analysis while working in the role more easily. Read more: Computer Skills: Definitions and Examples.
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 ...
What Is a Market Research Analyst? 2024 Guide
Market research analyst technical skills. Data collection tools: Market research analysts gather data from an array of sources, including surveys, social media platforms, keyword trends, and audience insights. Market research analysts use Qualtrics, SurveyMonkey, Typeform, Google Trends, and SEMrush, among many other tools, to learn more about ...
Market Research Analyst Essential Skills
Here are the essential skills of a market research analyst. Data Analysis Skills. At its heart, market research involves the collection of large amounts of data, which you then mine for useful insights about a given line of business or industry. And that means that data analysis is the most important part of the job of a market research analyst.
How to Become a Market Research Analyst: Steps and Skills
Step 1: Earn a Bachelor's Degree. Students can begin their paths by earning a bachelor's in fields such as marketing, business administration, or psychology. Each of these degrees, in different ways, provides valuable insights, enabling future market research analysts to assess consumer buying behaviors and preferences.
How to Become a Market Research Analyst in 3 Steps
Here are some steps you can follow to start your career as a market research analyst: 1. Receive higher education in a related field. Many employers require market research analysts to have at least a bachelor's degree in an area such as marketing. A marketing degree helps potential marketing research analysts learn about marketing principles ...
Market Research Analyst Skills
Communication and Presentation Skills. Effective communication and presentation skills are indispensable for Market Research Analysts. In 2024, analysts must be able to clearly convey their findings and recommendations to diverse audiences, including executives, marketing teams, and clients. This involves creating compelling reports ...
What Is a Market Research Analyst? 2024 Guide
Market research analysts—sometimes called market researchers—help companies develop or maintain a competitive edge by finding and delivering data-backed insights into potential markets, competitors, and even customer behaviour. They're an integral part of a company's overall marketing strategy and are in demand across multiple industries.
How to become a market research analyst
Becoming a market research analyst requires a combination of education, skills development, and practical experience. Here is a guide to help you pursue a career as a market research analyst: Obtain a Bachelor's Degree: Start by earning a bachelor's degree in a relevant field such as marketing , business , statistics , mathematics , economics ...
How to Become a Market Research Analyst
Tuition: $4,755 per 6-month term. Courses: 10 total courses in this program. Specialization: Students choose from two specializations to focus their marketing studies on digital marketing or marketing analytics. Skills for your résumé that you will learn in this program: Management.
Skills and Qualifications for a Thriving Marketing Analyst Career
A marketing analyst, or a marketing research analyst, is an individual who analyzes an organization's marketing data to uncover insights that improve marketing efforts. The analyst identifies ideal audiences for an organization's products or services, key channels through which to target them, which products customers are buying, and the ...
Market Research Analyst Career Profile
Market research analysts typically need a bachelor's degree. Some employers require or prefer that job candidates have a master's degree. Strong research and analytical skills are essential. Education. Market research analysts typically need a bachelor's degree in market research or a related business, communications, or social science field.
Market Research Analysts Skills: Definition and Examples
Market research analysts skills are the proficiencies and competencies that market research analysts require to perform their duties. For example, a market research analyst can use data analysis skills to scrutinise customer behaviour and patterns. They can also use communication skills to engage stakeholders, explain their findings and address ...
Market Research Analyst job description
A Market Research Analyst collects and analyzes data on consumers, competitors, and the marketplace. They provide insights and recommendations to support decision-making, identify market trends, and improve competitiveness. Strong analytical skills, knowledge of statistical packages, and excellent communication are essential.
Market research analyst job description
Objectives of this role. Perform quantitative and qualitative research into consumers, competitors, and the marketplace. Create reports, presentations, and action items based on collected data. Analyze data from numerous sources to identify market trends and consumer demographics. Strategize how best to allocate resources to improve marketing ...
Market Research Analyst
This is a sample job description for a Market Research Analyst position. ... Required Skills/Abilities: Excellent verbal and written communication skills.
Market Research Analyst Job Description: Salary, Skills, & More
Market Research Analyst Salary. Salaries can vary depending upon employer and industry. Those who work in the publishing industry tend to be the highest paid, but only marginally over those in company management. Median Annual Salary: $65,810. Top 10% Annual Salary: More than $127,410. Bottom 10% Annual Salary: Less than $33,80.
How to Become a Market Research Analyst
Here is a general trajectory of market research analyst salary, according to Glassdoor.com:. Entry Salary (US$56k); Median Salary (US$71k); Executive Salary (US$100k); To put this into perspective, the annual average wage for all occupations in the US is $61,900.This means that, based on your level, you can make some excellent cash as a market research analyst.
How to Become a Market Research Analyst
Market research analyst salary and career outlook. According to the U.S. Bureau of Labor Statistics (BLS), the median wage for market research analysts was $63,920 per year in 2021. The BLS also reported that growth in this profession is projected at an above-average rate of 19% from 2021 to 2031 — much faster than the average.
What Is a Market Research Analyst? 2024 Guide
Market research analyst salary. The median salary for a market research analyst in Canada is $68,250 or $35 per hour, according to Talent.com, though salary can differ depending on the industry [2]. This is higher than the average hourly wage of $31.37 for all employees within the country [3].
15 Market Research Analyst Skills For Your Resume
Product Development, 3.1%. Other Skills, 63.7%. 15 market research analyst skills for your resume and career. 1. PowerPoint. PowerPoint is a presentation software used to create and design slideshows. Market research analysts use PowerPoint to present data and findings to clients and stakeholders.
Market Research Analyst job
What's Needed? Bachelor's degree in Mark Research, Marketing, Chemistry, Biology, Life Sciences; or an equivalent combination of education and experience ; 5 years market research and, 2-3 years strategy development. Worked as a market research vendor or a consulting role.
market research analyst student jobs
515 Market Research Analyst Student jobs available on Indeed.com. Apply to Operations Analyst, Research Scientist, Summer Associate and more! ... Ability to independently research needed data and complete requirements. ... Effective research, analytical, and problem-solving skills.

Market Research Analyst: Job Description & Skills in 2024

Definition of Market Research Analyst

Importance of Market Research Analyst

Overview of the Article

Market Research Analyst Job Description

A. Responsibilities

B. Gather Data and Information

C. Analyze Data and Information

D. Evaluate and Present Findings

E. Communicate with Clients, Managers, and Stakeholders

F. Maintain Research Databases and Technology

Qualifications and Skills for Market Research Analyst

Career Prospects and Salary for Market Research Analysts

A. Career Growth Opportunities

B. Job Market Trends and Outlook

C. Salary and Compensation

D. Geographic and Industry Variation in Salaries

Types of Market Research Analyst

A. Industry-Specific Market Research Analyst

B. Geographical Market Research Analyst

C. Demographic Market Research Analyst

D. Product-Specific Market Research Analyst

Types of Market Research Techniques

A. Qualitative Research

B. Quantitative Research

C. Primary Research

D. Secondary Research

Important Key Performance Indicators (KPIs) for Market Research Analysts

A. Customer Satisfaction

B. Net Promoter Score (NPS)

C. Market Share

D. Customer Retention

E. Sales Growth

F. Brand Awareness

Challenges Faced by Market Research Analysts

A. Limited Time and Resources

B. Handling and Managing Big Data

C. Staying Up-To-Date with Technological Advancements

D. Increased Competition

E. Evolving Market Trends and Consumer Behaviour

Importance of Market Research Analyst for Various Industries

A. Retail Industry

B. Healthcare Industry

C. Technology Industry

D. Manufacturing Industry

E. Food & Beverage Industry

Example Case Studies

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The Essential Skills of a Market Research Analyst

Data Analysis Skills

Data Collection Skills

Communication Skills

Data Visualization Skills

Knowledge of Human Behavior and Psychology

The Bottom Line

How to Become a Market Research Analyst How to Become a Market Research Analyst How to Become a Market Research Analyst

What Does a Market Research Analyst Do?

Market Research Analyst Degree Path

Market Research Analyst Education Requirements

How to Become a Market Research Analyst

Step 1: Earn a Bachelor’s Degree

Step 2: Build On-the-Job Experience

Step 3: Earn a Master’s Degree (Optional)

What Skills Does a Market Research Analyst Need?

Market Research Analyst Salaries and Job Outlook

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Market Research Analyst Skills

Getting Started as a Market Research Analyst

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Types of Skills for Market Research Analysts

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Top Soft Skills for Market Research Analysts

Most Important Market Research Analyst Skills in 2024

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How to become a Market Research Analyst

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