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The differences between allocation analysts and product analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become an allocation analyst, becoming a product analyst takes usually requires 2-4 years. Additionally, a product analyst has an average salary of $79,316, which is higher than the $65,773 average annual salary of an allocation analyst.
The top three skills for an allocation analyst include allocation strategies, purchase orders and logistics. The most important skills for a product analyst are tableau, data analysis, and product management.
| Allocation Analyst | Product Analyst | |
| Yearly salary | $65,773 | $79,316 |
| Hourly rate | $31.62 | $38.13 |
| Growth rate | 19% | 11% |
| Number of jobs | 8,917 | 176,369 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 73% |
| Average age | 37 | 44 |
| Years of experience | 6 | 4 |
In the retail industry, an allocation analyst is in charge of providing analytical services to optimize a company's supply chain operations. Among their responsibilities include performing market research and analysis, determining the customers' purchase needs, managing product inventory, coordinating with store managers, gathering and analyzing data from internal and external parties, keeping abreast with the latest trends, and developing strategies to reach sales and inventory targets. Moreover, an allocation analyst must maintain an active communication line with staff while enforcing and promoting the company's policies and regulations.
A product analyst job utilizes data analysis software and notates trends in market research. Primarily, analysts project the costs of product development and marketing. They think of the possibilities for profit and sales and monitor the performance of products on the market to come up with a better product. Their responsibilities include company product evaluation, product understanding, and product rating reviews. Familiarity with Microsoft Office Suite, strong communication skills, and proficiency in database software is necessary for this job.
Allocation analysts and product analysts have different pay scales, as shown below.
| Allocation Analyst | Product Analyst | |
| Average salary | $65,773 | $79,316 |
| Salary range | Between $47,000 And $90,000 | Between $56,000 And $111,000 |
| Highest paying City | Dover, DE | Seattle, WA |
| Highest paying state | Delaware | Washington |
| Best paying company | Wellington Management | Meta |
| Best paying industry | Retail | Technology |
There are a few differences between an allocation analyst and a product analyst in terms of educational background:
| Allocation Analyst | Product Analyst | |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between allocation analysts' and product analysts' demographics:
| Allocation Analyst | Product Analyst | |
| Average age | 37 | 44 |
| Gender ratio | Male, 29.3% Female, 70.7% | Male, 53.2% Female, 46.8% |
| Race ratio | Black or African American, 5.3% Unknown, 5.0% Hispanic or Latino, 12.7% Asian, 11.1% White, 65.8% American Indian and Alaska Native, 0.1% | Black or African American, 7.6% Unknown, 4.5% Hispanic or Latino, 8.5% Asian, 14.6% White, 64.6% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 12% |