Forecasting analyst vs research analyst

The differences between forecasting analysts and research analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a forecasting analyst and a research analyst. Additionally, a research analyst has an average salary of $70,232, 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 research analyst are data analysis, data collection, and research projects.

Forecasting analyst vs research analyst overview

	Forecasting Analyst	Research Analyst
Yearly salary	$69,708	$70,232
Hourly rate	$33.51	$33.77
Growth rate	19%	19%
Number of jobs	31,811	81,374
Job satisfaction	-	4.5
Most common degree	Bachelor's Degree, 75%	Bachelor's Degree, 70%
Average age	37	37
Years of experience	6	6

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 research analyst do?

A research analyst is responsible for providing a company with insights and advice concerning finance, investments, and expenditures. Utilizing their analytical skills and extensive expertise in marketing, they analyze the trends and significant factors to conclude which decision should be the best to make. They can also take part in conducting an in-depth analysis of a business and examine which areas require improvement or has potential. Furthermore, they may work with a company or independently as a freelance analyst.

Forecasting analyst vs research analyst salary

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

	Forecasting Analyst	Research Analyst
Average salary	$69,708	$70,232
Salary range	Between $53,000 And $90,000	Between $45,000 And $107,000
Highest paying City	Seattle, WA	Seattle, WA
Highest paying state	Washington	Washington
Best paying company	Apple	The Citadel
Best paying industry	Manufacturing	Finance

Differences between forecasting analyst and research analyst education

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

	Forecasting Analyst	Research Analyst
Most common degree	Bachelor's Degree, 75%	Bachelor's Degree, 70%
Most common major	Business	Business
Most common college	University of Georgia	University of Georgia

Forecasting analyst vs research analyst demographics

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

	Forecasting Analyst	Research Analyst
Average age	37	37
Gender ratio	Male, 55.3% Female, 44.7%	Male, 50.8% Female, 49.2%
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, 4.7% Unknown, 4.9% Hispanic or Latino, 11.3% Asian, 14.3% White, 64.7% American Indian and Alaska Native, 0.1%
LGBT Percentage	10%	10%

Differences between forecasting analyst and research 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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Research analyst example responsibilities.

Develop VBA to automate the analysis of website data, which save staff labor time.
Manage medication studies, and ensury clinical trial centers conduct studies in accordance with GCP standards.
Manage project team meetings using SharePoint calendars.
Work with engineering teams to troubleshoot issues.
Design and code windows in PowerBuilder for EMPRV application.
Assist with ongoing implementation of POS and PC systems for upgrades and new locations.

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Forecasting analyst vs research analyst skills

Common forecasting analyst skills

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

Common research analyst skills

Data Analysis, 6%
Data Collection, 6%
Research Projects, 5%
PowerPoint, 5%
Market Research, 4%
Python, 4%

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Updated January 8, 2025

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