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The differences between market research analysts and data scientists 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 scientist takes usually requires 2-4 years. Additionally, a data scientist has an average salary of $106,104, 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 scientist are python, data science, and visualization.
| Market Research Analyst | Data Scientist | |
| Yearly salary | $51,688 | $106,104 |
| Hourly rate | $24.85 | $51.01 |
| Growth rate | 19% | 16% |
| Number of jobs | 71,240 | 106,973 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 51% |
| Average age | 37 | 41 |
| 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.
A Data Scientist analyzes information from multiple sources in order to gain maximum insight that can give the company a competitive advantage. They work in different domains, including manufacturing, healthcare, education, and finance.
Market research analysts and data scientists have different pay scales, as shown below.
| Market Research Analyst | Data Scientist | |
| Average salary | $51,688 | $106,104 |
| Salary range | Between $36,000 And $73,000 | Between $75,000 And $148,000 |
| Highest paying City | Seattle, WA | Richmond, CA |
| Highest paying state | Delaware | California |
| Best paying company | Imply | The Citadel |
| Best paying industry | Technology | Start-up |
There are a few differences between a market research analyst and a data scientist in terms of educational background:
| Market Research Analyst | Data Scientist | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 51% |
| Most common major | Business | Computer Science |
| Most common college | University of Georgia | Columbia University in the City of New York |
Here are the differences between market research analysts' and data scientists' demographics:
| Market Research Analyst | Data Scientist | |
| Average age | 37 | 41 |
| Gender ratio | Male, 51.2% Female, 48.8% | Male, 79.6% Female, 20.4% |
| 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, 4.2% Unknown, 5.4% Hispanic or Latino, 6.9% Asian, 18.8% White, 64.2% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 10% | 9% |