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The differences between market research analysts and data 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 market research analyst, becoming a data analyst takes usually requires 2-4 years. Additionally, a data analyst has an average salary of $74,342, which is higher than the $51,688 average annual salary of a market research analyst.
The top three skills for a market research analyst include powerpoint, data analysis and SPSS. The most important skills for a data analyst are data analysis, python, and power bi.
| Market Research Analyst | Data Analyst | |
| Yearly salary | $51,688 | $74,342 |
| Hourly rate | $24.85 | $35.74 |
| Growth rate | 19% | 11% |
| Number of jobs | 71,240 | 167,520 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 65% |
| Average age | 37 | 44 |
| Years of experience | 6 | 4 |
A market research analyst is an individual who studies the market conditions so that he/she or she can examine the potential sales of an organization's product or service. Market research analysts are required to devise and evaluate methods for collecting data such as surveys, focus groups, and opinion polls. They must interpret the data they have collected and presented their findings to executives and clients to help them make better-informed decisions. Market research analysts are also required to create visuals of industry trends and competitors so the company can predict how it fares in the marketplace.
Data analysts are responsible for interpreting the company's statistics and providing sound recommendations to the organization. They manage the organization's data sets, usually related to market performance, finance, or human resources. They are in charge of studying the available data, spotting trends, interpreting what the data and the trends mean, and recommending suggestions that will help the organization perform better. Their recommendations should also be relevant and backed up with strong analyses. Data analysts are expected to have a good grasp of the current market trends in the industry.
Market research analysts and data analysts have different pay scales, as shown below.
| Market Research Analyst | Data Analyst | |
| Average salary | $51,688 | $74,342 |
| Salary range | Between $36,000 And $73,000 | Between $53,000 And $103,000 |
| Highest paying City | Seattle, WA | Richmond, CA |
| Highest paying state | Delaware | New Jersey |
| Best paying company | Imply | The Citadel |
| Best paying industry | Technology | Finance |
There are a few differences between a market research analyst and a data analyst in terms of educational background:
| Market Research Analyst | Data Analyst | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Georgia | Northwestern University |
Here are the differences between market research analysts' and data analysts' demographics:
| Market Research Analyst | Data Analyst | |
| Average age | 37 | 44 |
| Gender ratio | Male, 51.2% Female, 48.8% | Male, 50.2% Female, 49.8% |
| Race ratio | 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% | Black or African American, 7.5% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.5% White, 64.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 12% |