Forecasting analyst vs planning analyst

The differences between forecasting analysts and planning analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a forecasting analyst, becoming a planning analyst takes usually requires 2-4 years. Additionally, a forecasting analyst has an average salary of $69,708, which is higher than the $68,137 average annual salary of a planning analyst.

The top three skills for a forecasting analyst include supply chain, SQL and data analysis. The most important skills for a planning analyst are project management, customer service, and data analysis.

Forecasting analyst vs planning analyst overview

	Forecasting Analyst	Planning Analyst
Yearly salary	$69,708	$68,137
Hourly rate	$33.51	$32.76
Growth rate	19%	11%
Number of jobs	31,811	92,380
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 75%	Bachelor's Degree, 73%
Average age	37	44
Years of experience	6	4

What does a forecasting analyst do?

A forecasting analyst is responsible for predicting a business's future production and financial condition by analyzing the company's current data statistics. Forecasting analysts evaluate the company's sales performance, inventory levels, production speed, and turnaround time of deliverables. They also study the latest industry trends, identifying business opportunities from consumer demands and interests to develop revenue resources to maintain the business' financial stability. A forecasting analyst must have excellent communication and analytical skills, especially on creating report models and finance measurement accuracy.

What does a planning analyst do?

As a planning analyst, you will be responsible for designing and implementing a company's business and marketing strategies with the goal of driving profits and reducing costs. You will propose measures to enhance an organization's overall efficiency, and guide managers on ways to strengthen profit margins through risk awareness reduced costs, and increased revenues. Other duties include conducting risk analyses to identify areas of potential failure, maintaining the business continuity program, and handling internal and external corporate communications with the investment community and industry analysts.

Forecasting analyst vs planning analyst salary

Forecasting analysts and planning analysts have different pay scales, as shown below.

	Forecasting Analyst	Planning Analyst
Average salary	$69,708	$68,137
Salary range	Between $53,000 And $90,000	Between $49,000 And $93,000
Highest paying City	Seattle, WA	Washington, DC
Highest paying state	Washington	Rhode Island
Best paying company	Apple	Meta
Best paying industry	Manufacturing	Automotive

Differences between forecasting analyst and planning analyst education

There are a few differences between a forecasting analyst and a planning analyst in terms of educational background:

	Forecasting Analyst	Planning Analyst
Most common degree	Bachelor's Degree, 75%	Bachelor's Degree, 73%
Most common major	Business	Business
Most common college	University of Georgia	Northwestern University

Forecasting analyst vs planning analyst demographics

Here are the differences between forecasting analysts' and planning analysts' demographics:

	Forecasting Analyst	Planning Analyst
Average age	37	44
Gender ratio	Male, 55.3% Female, 44.7%	Male, 53.4% Female, 46.6%
Race ratio	Black or African American, 5.0% Unknown, 5.0% Hispanic or Latino, 11.9% Asian, 12.7% White, 65.3% American Indian and Alaska Native, 0.1%	Black or African American, 8.0% Unknown, 4.5% Hispanic or Latino, 8.9% Asian, 12.6% White, 65.8% American Indian and Alaska Native, 0.2%
LGBT Percentage	10%	12%

Differences between forecasting analyst and planning analyst duties and responsibilities

Forecasting analyst example responsibilities.

Manage National/Global RFP project process by creating pricing models and coordinating pricing efforts of different ManpowerGroup brands.
Enter sales and freight information in company ERP software program.
Work with logistics to track shipments to distribution center and ensure customer delivery dates are met.
Develop and execute the POS and inventory forecasts and analysis for mass merchants and national /international sales accounts.
Create promotional, POS, & inventory reports for both domestic and international accounts and submit to company each week.
Utilize Nielsen data to create category reviews, new product presentations, and attend customer meetings to support customer category managers.

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Planning analyst example responsibilities.

Manage 160 footwear SKUs across 3700 stores to ensure optimal inventory depths during peak time frames.
Reduce work in process inventory by use of KANBAN system which also lead to improve customer service.
Manage suppliers (KPI's) to deliver target cost, service and quality levels in each operating center.
Manage cross-functional team which successfully create a manual for ISO 9000 certification and develop a training program for new hires.
Lead monthly and quarterly EAC forecasting and consolidate forecasts in support of corporate financial reporting.
Prepare requests for quotes (RFQ) and requests for improvement (RFI) for distribution to existing and potential suppliers.

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Forecasting analyst vs planning analyst skills

Common forecasting analyst skills

Supply Chain, 9%
SQL, 9%
Data Analysis, 7%
Strong Analytical, 6%
SAS, 5%
Demand Planning, 5%

Common planning analyst skills

Project Management, 8%
Customer Service, 7%
Data Analysis, 6%
Logistics, 6%
Strong Analytical, 5%
SQL, 5%

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Updated January 8, 2025

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