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Become A Product Analyst

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Working As A Product Analyst

  • Analyzing Data or Information
  • Getting Information
  • Interacting With Computers
  • Interpreting the Meaning of Information for Others
  • Communicating with Supervisors, Peers, or Subordinates
  • Mostly Sitting

  • Make Decisions

  • $70,400

    Average Salary

What Does A Product Analyst Do

Market research analysts study market conditions to examine potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price.

Duties

Market research analysts typically do the following:

  • Monitor and forecast marketing and sales trends
  • Measure the effectiveness of marketing programs and strategies
  • Devise and evaluate methods for collecting data, such as surveys, questionnaires, and opinion polls
  • Gather data on consumers, competitors, and market conditions
  • Analyze data using statistical software
  • Convert complex data and findings into understandable tables, graphs, and written reports
  • Prepare reports and present results to clients and management

Market research analysts research and gather data to help a company market its products or services. They gather data on consumer demographics, preferences, needs, and buying habits. They collect data and information using a variety of methods, such as interviews, questionnaires, focus groups, market analysis surveys, public opinion polls, and literature reviews.

Analysts help determine a company’s position in the marketplace by researching their competitors and analyzing their prices, sales, and marketing methods. Using this information, they may determine potential markets, product demand, and pricing. Their knowledge of the targeted consumer enables them to develop advertising brochures and commercials, sales plans, and product promotions. 

Market research analysts evaluate data using statistical techniques and software. They must interpret what the data mean for their client, and they may forecast future trends. They often make charts, graphs, infographics, and other visual aids to present the results of their research. 

Workers who design and conduct surveys are known as survey researchers.

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How To Become A Product Analyst

Most market research analysts need at least a bachelor’s degree. Top research positions may require a master’s degree. Strong math and analytical skills are essential. 

Education

Market research analysts typically need a bachelor’s degree in market research or a related field. Many have degrees in fields such as statistics, math, and computer science. Others have backgrounds in business administration, the social sciences, or communications.

Courses in statistics, research methods, and marketing are essential for these workers. Courses in communications and social sciences, such as economics or consumer behavior, are also important.

Some market research analyst jobs require a master’s degree. Several schools offer graduate programs in marketing research, but many analysts complete degrees in other fields, such as statistics and marketing, and/or earn a master’s degree in business administration (MBA). A master’s degree is often required for leadership positions or positions that perform more technical research. 

Licenses, Certifications, and Registrations

Certification is voluntary, but analysts may pursue certification to demonstrate a level of professional competency. The Marketing Research Association offers the Professional Researcher Certification (PRC) for market research analysts. Candidates qualify based on experience and knowledge; they must pass an exam, be a member of a professional organization, and have at least 3 years working in opinion and marketing research. Individuals must complete 20 hours of industry-related continuing education courses every 2 years to renew their certification.

Important Qualities

Analytical skills. Market research analysts must be able to understand large amounts of data and information. 

Communication skills. Market research analysts need strong communication skills when gathering information, interpreting data, and presenting results to clients. 

Critical-thinking skills. To determine what marketing strategy would work best for a company, market research analysts must assess all available information.

Detail oriented. Market research analysts must be detail oriented because they often do precise data analysis.

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Product Analyst jobs

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Product Analyst Career Paths

Product Analyst
Senior Product Manager Senior Manager Director Of Information
Chief Information Officer
11 Yearsyrs
Program Manager Project Director Research Manager
Consumer Marketing Manager
6 Yearsyrs
Associate Product Manager Product Marketing Manager Senior Manager Of Marketing
Director Of Consumer Marketing
11 Yearsyrs
Operations Manager Sales/Marketing Marketing Manager
Director, Global Marketing
12 Yearsyrs
Senior Analyst Research Manager Market Research Manager
Director, Market Research
10 Yearsyrs
Senior Product Manager Senior Product Marketing Manager
Director, Product Marketing
11 Yearsyrs
Product Manager Marketing Manager
Marketing Director
7 Yearsyrs
Associate Product Manager Brand Manager Marketing Consultant
Marketing Lead
6 Yearsyrs
Senior Business Analyst Project Manager Program Manager
Marketing Manager
6 Yearsyrs
Project Manager Construction Manager
Operations Manager
7 Yearsyrs
Project Manager Senior Project Manager Senior Product Manager
Product Management Director
12 Yearsyrs
Finance Analyst Business Analyst
Product Manager
7 Yearsyrs
Senior Business Analyst Product Manager
Product Marketing Manager
7 Yearsyrs
Operations Manager Account Executive Marketing Manager
Senior Brand Manager
9 Yearsyrs
Finance Analyst Operations Manager Marketing Director
Senior Director Of Marketing
13 Yearsyrs
Product Specialist Marketing Manager
Senior Manager Of Marketing
9 Yearsyrs
Business Analyst Product Manager
Senior Product Manager
9 Yearsyrs
Product Specialist Project Manager Product Manager
Senior Product Marketing Manager
10 Yearsyrs
Product Manager Program Manager
Senior Project Manager
12 Yearsyrs
Business Analyst Program Manager Business Developer
Vice President, Business Development
13 Yearsyrs
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Average Length of Employment
Product Manager 3.4 years
Senior Analyst 3.3 years
Product Developer 3.2 years
Project Analyst 3.0 years
Business Analyst 3.0 years
Analyst Lead 2.9 years
Quality Analyst 2.6 years
Product Specialist 2.6 years
Associate Analyst 2.5 years
Pricing Analyst 2.5 years
Analyst 2.4 years
E-Commerce Analyst 2.3 years
Assistant Analyst 2.1 years
Marketing Analyst 2.1 years
Market Analyst 2.1 years
Content Analyst 2.1 years
Product Analyst 2.0 years
Research Analyst 2.0 years
Junior IS Analyst 1.5 years
Analyst Internship 0.5 years
Top Employers Before
Internship 8.7%
Analyst 7.0%
Consultant 3.5%
Top Employers After
Consultant 4.8%
Analyst 3.7%
Manager 2.8%

Product Analyst Demographics

Gender

Male

50.6%

Female

46.1%

Unknown

3.3%
Ethnicity

White

72.8%

Asian

14.5%

Hispanic or Latino

9.9%

Unknown

2.0%

Black or African American

0.8%
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Languages Spoken

Spanish

36.9%

French

10.0%

Mandarin

6.9%

Korean

6.9%

Chinese

6.9%

German

6.9%

Italian

5.4%

Hindi

3.1%

Portuguese

3.1%

Cantonese

2.3%

Carrier

2.3%

Russian

1.5%

Polish

1.5%

Arabic

1.5%

Swedish

0.8%

Telugu

0.8%

Vietnamese

0.8%

Gujarati

0.8%

Dutch

0.8%

Sindhi

0.8%
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Product Analyst Education

Schools

University of Phoenix

18.6%

University of Texas at Austin

5.9%

Pennsylvania State University

5.5%

Carnegie Mellon University

5.5%

DePaul University

5.5%

Northeastern University

5.5%

New York University

4.7%

Webster University

4.7%

Iowa State University

4.3%

Michigan State University

4.0%

Georgia State University

4.0%

American InterContinental University

4.0%

University of Connecticut

4.0%

Syracuse University

3.6%

University of Texas at Dallas

3.6%

Boston University

3.6%

University of Illinois at Chicago

3.6%

Washington University in Saint Louis

3.2%

University of North Carolina at Greensboro

3.2%

George Washington University

3.2%
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Majors

Business

33.4%

Finance

11.1%

Marketing

7.1%

Computer Science

5.6%

Management

5.6%

Economics

4.5%

Accounting

4.5%

Information Technology

4.2%

Computer Information Systems

3.4%

Communication

3.0%

Electrical Engineering

2.1%

Political Science

2.1%

Project Management

2.0%

English

1.9%

Psychology

1.8%

Mechanical Engineering

1.6%

Information Systems

1.6%

Mathematics

1.6%

Management Science

1.5%

Management Information Systems

1.5%
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Degrees

Bachelors

46.8%

Masters

30.3%

Other

11.8%

Associate

4.9%

Certificate

4.3%

Doctorate

1.5%

Diploma

0.3%

License

0.1%
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Job type you want
Full Time
Part Time
Internship
Temporary

Real Product Analyst Salaries

Job Title Company Location Start Date Salary
Product Analyst ZL Technologies, Inc. San Jose, CA Feb 04, 2015 $207,709
Analyst, Macro and Structured Products Tse Capital Management L.P. New York, NY Apr 16, 2016 $200,000
Product Analyst Adobe Systems Incorporated San Francisco, CA May 05, 2016 $173,826
Product Analyst Facebook, Inc. Menlo Park, CA May 06, 2015 $168,000 -
$188,000
Clo/Structured Products Analyst Elliot Management Corporation New York, NY Apr 29, 2015 $150,000
Clo/Structured Products Analyst Elliot Management Corporation New York, NY Jan 10, 2016 $150,000
Refined Product Paper Analyst Koch Supply and Trading, L.P. Houston, TX Sep 03, 2015 $150,000
Clo/Structured Products Analyst Elliott Management Corporation New York, NY Jul 03, 2016 $150,000
Nest Hvac Product Analyst Google Inc. Mountain View, CA May 09, 2016 $145,000
Product Analyst ZL Technologies, Inc. Milpitas, CA Oct 01, 2015 $140,878
Data Product Analyst Yipit, Inc. New York, NY Jul 12, 2016 $140,000
Product Analyst Invisionapp Inc. San Francisco, CA Oct 17, 2016 $140,000
Product Analyst, Ambulatory Provider Software GE Healthcare IITS USA Corp. Seattle, WA Dec 27, 2016 $140,000 -
$150,000
Product Analyst Google Inc. San Bruno, CA Nov 14, 2016 $135,750
IM Product Analyst-Sap Human Capital Management Kiewit Corporation Omaha, NE Aug 28, 2016 $96,720
Sales and Product Analyst Toyota Motor Credit Corporation ('TMCC') Plano, TX Aug 29, 2016 $95,500
Product Analyst Moody's Analytics, Inc. South San Francisco, CA Aug 27, 2016 $95,000
Product Insight Analyst Insurance Services Office, Inc. Jersey City, NJ Dec 04, 2015 $95,000 -
$115,000
Analyst, Product Strategy & Partnerships Cengage Learning Inc. San Francisco, CA Sep 17, 2016 $95,000
Productivity Analyst Varonis Systems New York, NY Nov 08, 2016 $95,000
Product Services Analyst Markit North America, Inc. New York, NY Sep 18, 2016 $94,640 -
$109,640
Product Analyst II-Quantitative Plymouth Rock Management Company of New Jersey Red Bank, NJ Sep 01, 2015 $77,355 -
$94,078
Product Analyst, Product Management Abercrombie & Fitch Management Co. New Albany, OH Jul 11, 2016 $77,210
Product Analyst 360 It Professionals, Inc. Sunnyvale, CA Jun 25, 2015 $76,918
Product Analyst Connectedhealth, LLC Chicago, IL Apr 13, 2015 $76,000
Product Analyst Real Foundation, Inc. New York, NY Aug 24, 2015 $75,400
Product Analyst 360 It Professionals, Inc. Sunnyvale, CA Jun 25, 2015 $75,046
Product Analyst American Express Travel Related Services Company, Inc. Saint Petersburg, FL Oct 19, 2015 $75,000

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Top Skills for A Product Analyst

NewProductDevelopmentFinancialAnalysisDataAnalysisEnsureComplianceSQLServerWebPortfolioProductLinesProductManagementCustomerServiceBusinessRequirementsQAProjectManagementPolicyAdditionalFDATechnicalSupportProcessImprovementMarketResearchWindows

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Top Product Analyst Skills

  1. New Product Development
  2. Financial Analysis
  3. Data Analysis
You can check out examples of real life uses of top skills on resumes here:
  • Present key industry product summaries, product analyses and recommendations for corporate new product development strategy and execution
  • Maintained and updated financial analysis spreadsheets and product inventory reports.
  • Provided extensive data analysis to assist in developing the process for investigating adverse reliability concerns.
  • Conducted process audits of various manufacturing lines to ensure compliance to operating procedures.
  • Utilized SQL Server training to provide customers and resellers with relational database expertise.

Top Product Analyst Employers

Product Analyst Videos

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