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The differences between market analysts and data 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 market analyst and a data research analyst. Additionally, a market analyst has an average salary of $61,606, which is higher than the $57,865 average annual salary of a data research analyst.
The top three skills for a market analyst include analytics, market research and provide management. The most important skills for a data research analyst are data analysis, data collection, and patients.
| Market Analyst | Data Research Analyst | |
| Yearly salary | $61,606 | $57,865 |
| Hourly rate | $29.62 | $27.82 |
| Growth rate | 19% | 19% |
| Number of jobs | 35,278 | 135,144 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 65% |
| Average age | 37 | 37 |
| Years of experience | 6 | 6 |
A market analyst is responsible for examining relevant information that will aid the organization to make informed decisions on market strategy. You will be responsible for assessing consumer preferences that will help the company decide how to advertise and market their products. Other typical duties that you will perform may include devising and evaluating methods for gathering data such as opinion polls, surveys, and questionnaires, interpreting the data and organizing this into statistical reports and tables, and creating visuals of industry trends.
The job of a data research analyst focuses on the interpretation of research results. The results data research analysts gather is turned into information offering ways for business improvement. They collect data information from different sources then interpret their patterns and trends. These professionals prepare investigative reports on assets and securities for a client or in-house use. They need to develop skills in a good organization, excellent communication, attention to detail, and accuracy.
Market analysts and data research analysts have different pay scales, as shown below.
| Market Analyst | Data Research Analyst | |
| Average salary | $61,606 | $57,865 |
| Salary range | Between $41,000 And $90,000 | Between $40,000 And $81,000 |
| Highest paying City | Seattle, WA | Bellevue, WA |
| Highest paying state | Delaware | Washington |
| Best paying company | Intuitive Surgical | Microsoft |
| Best paying industry | Finance | Finance |
There are a few differences between a market analyst and a data research analyst in terms of educational background:
| Market Analyst | Data Research Analyst | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between market analysts' and data research analysts' demographics:
| Market Analyst | Data Research Analyst | |
| Average age | 37 | 37 |
| Gender ratio | Male, 61.0% Female, 39.0% | Male, 48.4% Female, 51.6% |
| Race ratio | Black or African American, 4.8% Unknown, 4.9% Hispanic or Latino, 11.3% Asian, 14.4% White, 64.5% American Indian and Alaska Native, 0.1% | Black or African American, 4.7% Unknown, 4.9% Hispanic or Latino, 11.1% Asian, 14.0% White, 65.1% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |