August 2022

Mohammad Anas Wahaj | 28 aug 2022

Market research analysis is the methodology to understand the target market, customers and competitors. It provides businesses the insights that they can apply to build products and continuously improve them depending on what customers and market needs. This also assist companies to devise effective marketing and selling strategies. Market research analyst is the key human resource in the field of business and their demand is high. According to US Bureau of Labor Statistics the job outlook for the industry is 22%, and the median annual wage is around US$ 64000. There are certain set of qualifications and skills that make a good market research analyst - (1) Getting a business or marketing degree builds the foundation for a successful career. (2) As data is one of the most essential component of market research, it is important to be skilled in sorting, storing and analyzing data. Knowledge of software tools like Excel, Sheets, Tableau etc is needed. (3) Other necessary skills include both technical and soft skills. Analytical skills like critical thinking, problem-solving, data analysis, and logical reasoning are required. Verbal and written communication skills are a must when explaining data in the form of presentations and writing reports. (4) Getting relevant experience while pursuing education in the form of internships help in getting initial placement. Moreover, obtaining specialized market research related degree can pave the way for better placement. (5) Building relevant industry contacts and networking will assist in getting guidance and mentoring and to stay on course for successful career. (6) There are many specialized online courses that can help in honing existing skills and getting new ones. As the field continues to grow and progress taking online courses will assure skill development while staying in the job. Read on...

MakeUseOf: How to Become a Market Research Analyst: The Ultimate Guide
Author: Raji Oluwaniyi

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