Forecasting analyst vs product analyst

The differences between forecasting 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 a forecasting 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 $69,708 average annual salary of a forecasting analyst.

The top three skills for a forecasting analyst include supply chain, SQL and data analysis. The most important skills for a product analyst are tableau, data analysis, and product management.

Forecasting analyst vs product analyst overview

	Forecasting Analyst	Product Analyst
Yearly salary	$69,708	$79,316
Hourly rate	$33.51	$38.13
Growth rate	19%	11%
Number of jobs	31,811	176,369
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 product analyst do?

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.

Forecasting analyst vs product analyst salary

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

	Forecasting Analyst	Product Analyst
Average salary	$69,708	$79,316
Salary range	Between $53,000 And $90,000	Between $56,000 And $111,000
Highest paying City	Seattle, WA	Seattle, WA
Highest paying state	Washington	Washington
Best paying company	Apple	Meta
Best paying industry	Manufacturing	Technology

Differences between forecasting analyst and product analyst education

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

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

Forecasting analyst vs product analyst demographics

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

	Forecasting Analyst	Product Analyst
Average age	37	44
Gender ratio	Male, 55.3% Female, 44.7%	Male, 53.2% Female, 46.8%
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, 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%

Differences between forecasting analyst and product 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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Product analyst example responsibilities.

Manage CRM development teams in India.
Use the SoapUI tool to automate the API calls relate to the corresponding UI functions.
Document test procedures to ensure reliability and compliance with standards using JIRA to report and manage bugs.
Work as a team to manage a student-run portfolio by researching and debating various securities for the benefit of the fund.
Manage inventory and supervise site payroll and invoice processing.
Lead architecture, design and development of a customize financial analytics solution.

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Forecasting analyst vs product analyst skills

Common forecasting analyst skills

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

Common product analyst skills

Tableau, 7%
Data Analysis, 6%
Product Management, 6%
Product Development, 5%
PowerPoint, 5%
Project Management, 5%

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Updated January 8, 2025

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