What is a Market Research Analyst?

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A Market Research Analyst collects information from a specific industry, reports it to the client, and provides the client guidance in that market. Not only do Market Research Analysts have to be extremely careful with their research, they need to be able to translate the information they know into practical knowledge to whoever they advise to. After all, they are the ones that tell companies what customers want at what price and so on.

Every industry needs its own Market Research Analysts to draw in businesses and keep it functioning. Therefore, it is crucial that the Analysts know their industry inside out and have a passion to talk about it. It is recommended that an Analyst has a background on the industry that his or her specializes in, but it is also common for an Analyst to start off as a Researcher for a Market Intelligence firm.

The career outlook for Market Research Analysts is rapidly expanding throughout the years. According to the United States Department of Labor, the employment of Market Research Analysts is projected to grow 32% between the years of 2012 to 2022. The 2012 median pay for this job is $60,300 a year and it only requires a Bachelor’s Degree in market research for an entry-level job.

One of the tools used by companies for analyzing data is Microsoft Excel. NR Computer Learning Center in Southern California offers the Excel Expert 2013 Course that prepares students for the MOS 77-425 & 428 Exams and reinforces basic as well as introduces advanced concepts in Excel such as  making a Pivot Table, creating Scenarios, and writing macros; these skills will prepare students  not only for data analysis but also for many job industries as well as provide knowledge for future careers.

References:

1. http://www.bls.gov/ooh/business-and-financial/market-research-analysts.htm#tab-1

2. http://careers.theguardian.com/so-what-does-a-research-analyst-do-exactly

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