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Become A Strategic Analyst

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Working As A Strategic 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

  • $84,287

    Average Salary

What Does A Strategic 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 Strategic 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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Strategic Analyst Jobs

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Strategic Analyst Demographics

Gender

Male

52.5%

Female

43.7%

Unknown

3.8%
Ethnicity

White

56.6%

Hispanic or Latino

13.6%

Asian

13.2%

Black or African American

12.4%

Unknown

4.1%
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Foreign Languages Spoken

Spanish

27.8%

French

13.0%

Portuguese

9.3%

German

9.3%

Chinese

7.4%

Russian

5.6%

Japanese

3.7%

Carrier

3.7%

Arabic

3.7%

Vietnamese

1.9%

Korean

1.9%

Cantonese

1.9%

Malay

1.9%

Greek

1.9%

Polish

1.9%

Mandarin

1.9%

Catalan

1.9%

Italian

1.9%
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Strategic Analyst Education

Schools

University of Phoenix

11.8%

Georgetown University

7.9%

University of Delaware

6.6%

University of Florida

5.3%

University of Central Florida

5.3%

American University

5.3%

University of Southern California

5.3%

Columbia University

5.3%

Saint Joseph's University

3.9%

Virginia Commonwealth University

3.9%

New York University

3.9%

University of California - Los Angeles

3.9%

Johnson County Community College

3.9%

Drexel University

3.9%

Webster University

3.9%

University of Colorado at Boulder

3.9%

New School

3.9%

University of Tampa

3.9%

University of Texas at Austin

3.9%

Northwestern University

3.9%
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Majors

Business

29.1%

Finance

13.8%

Marketing

9.1%

Management

5.9%

Accounting

4.3%

Computer Science

3.5%

Economics

3.5%

Criminal Justice

3.5%

Supply Chain Management

3.5%

Psychology

2.8%

Information Systems

2.8%

Management Information Systems

2.4%

Project Management

2.4%

Communication

2.4%

Education

2.0%

Political Science

2.0%

Sociology

2.0%

International Relations

2.0%

Statistics

1.6%

Health Care Administration

1.6%
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Degrees

Masters

46.7%

Bachelors

35.3%

Other

7.7%

Certificate

4.5%

Doctorate

3.2%

Associate

2.4%

Diploma

0.3%
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Real Strategic Analyst Salaries

Job Title Company Location Start Date Salary
Senior Strategic Analyst Ernst & Young U.S. LLP New York, NY May 18, 2015 $161,000
Senior Strategic Analyst Ernst & Young U.S. LLP New York, NY Mar 01, 2014 $152,000
Senior Strategic Analyst Ernst & Young U.S. LLP New York, NY Sep 13, 2014 $152,000
Senior Strategic Analyst Ernst & Young U.S. LLP New York, NY May 21, 2012 $145,000
Consumer Product Strategic Analyst IV Bank of America N.A. Wilmington, DE Apr 25, 2011 $125,000 -
$145,000
Consumer Product Strategic Analyst IV Bank of America N.A. Wilmington, DE Apr 01, 2011 $125,000 -
$145,000
Cons Prod Strategic Analyst IV Bank of America N.A. Wilmington, DE Jul 01, 2011 $125,000 -
$145,000
Strategic Initiatives Analyst Horizon Healthcare Services, Inc. Newark, NJ Dec 14, 2015 $123,000
Strategic Initiatives Analyst Horizon Healthcare Services, Inc. Newark, NJ Apr 01, 2016 $123,000
Strategic Markeing Analyst (Commercial Excellence Meadwestvaco Corporation Richmond, VA Oct 02, 2014 $122,400
Strategic Markeing Analyst (Commercial Excellence Analyst) Meadwestvaco Corporation Richmond, VA Oct 02, 2014 $122,400
Senior Strategic Analyst Associate Director Ernst & Young U.S. LLP Secaucus, NJ Jan 17, 2012 $120,000
Senior Strategic Analyst Associate Director Ernst & Young U.S. LLP Secaucus, NJ Oct 28, 2011 $120,000
Strategic Analyst III Rosetta Stone Ltd. Arlington, VA Jan 01, 2015 $91,603 -
$100,000
Cons Prod Strategic Analyst III Bank of America N.A. Jacksonville, FL Sep 18, 2015 $90,000 -
$110,000
Econometrics Strategic Analyst Monsanto Company Saint Louis, MO Sep 15, 2012 $90,000
Senior Strategic Analyst Air Liquide Industrial U.S. LP Houston, TX Jul 23, 2012 $90,000
Senior Strategic Analyst Corning Incorporated Corning, NY Apr 06, 2011 $90,000
Senior Strategic Analyst Pacific Gas & Electric Company San Francisco, CA Oct 01, 2013 $89,406
Strategic Analyst Memorial Sloan-Kettering Cancer Center New York, NY Jul 16, 2013 $68,742
Strategic Analyst Mullen Communications, Inc. Boston, MA Sep 18, 2013 $65,000
Strategic Manager Analyst DCM Group Inc. Iselin, NJ Jan 10, 2011 $65,000
Strategic Initiatives Analyst Piryx, Inc. San Francisco, CA Oct 01, 2011 $65,000
Consumer Product Strategic Analyst II Bank of America N.A. Wilmington, DE Jan 17, 2011 $65,000 -
$85,000
Consumer Product Strategic Analyst II Bank of America Corporation Wilmington, DE Dec 01, 2013 $65,000 -
$85,000
Strategic Analyst Mullen Communications, Inc. Boston, MA Aug 19, 2013 $65,000
Strategic Insights & Analytics Analyst Johnsonville Sausage, LLC Sheboygan Falls, WI Jan 17, 2014 $62,500

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Top Skills for A Strategic Analyst

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  1. Financial Models
  2. Business Strategy
  3. SQL
You can check out examples of real life uses of top skills on resumes here:
  • Developed financial models for revenue and budget forecasting.
  • Revamped and automated client reporting using BI visualization tool Tableau and SQL Server, saving over 30 FTE hours per month.
  • Developed partnerships with relevant stakeholders and actors in the area of counter narcotics for evidence-based policy and research in Afghanistan.
  • Supported the Financial decision making process by providing reporting and research to high level management from multiple databases.
  • Conducted in-depth strategic planning interviews throughout the company; compiled and analyzed the results and formulated strategic initiatives for upper management.

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Top 10 Best States for Strategic Analysts

  1. New York
  2. Delaware
  3. Rhode Island
  4. New Jersey
  5. Texas
  6. Minnesota
  7. Massachusetts
  8. Virginia
  9. District of Columbia
  10. Connecticut
  • (939 jobs)
  • (63 jobs)
  • (44 jobs)
  • (328 jobs)
  • (870 jobs)
  • (285 jobs)
  • (506 jobs)
  • (795 jobs)
  • (295 jobs)
  • (151 jobs)

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