Financial ServicesISCO 2431
Market research analyst
A market research analyst is a person who collects the information gathered in market research, analyses it and draws conclusions from it.
Check yourself in a minute: market research analyst
Rate 5 of the 26 essential skills of this occupation (European ESCO data). No account needed.
digital data processing
analyse market financial trends
advise on market strategies
draw conclusions from market research results
analyse economic trends
About market research analyst
The analyst establishes who the potential buyers of a product are, which target group to address and how to reach those customers. A product's position in the market is examined from several angles at once: its features, its price and its competition. Cross-selling and the interdependencies between different products and their placement are analysed as well.
The analyst conducts market research, applies statistics to the data collected, and judges whether a difference between two groups is real or an artefact of the sample.
Consumer buying trends and economic trends are analysed in parallel, along with the external factors affecting a company: regulation, technology, demographics and what competitors have just launched. Market research reports are then prepared, setting out the finding, the method and its limits, and those reports become the basis on which marketing strategies are developed. Knowledge of marketing principles helps turn findings into practical recommendations. Formal requirements are set by the employer.
European Skills Framework
Skills and knowledge areas required for this occupation based on European classification.
Essential (26)
digital data processingdigital data processingIdentify, locate, retrieve, store, organise and analyse digital information, judging its relevance and purpose.consumer goods industryconsumer goods industryThe consumer goods industry refers to a concrete economic sector that produce and sell goods to consumers for they direct consumption, enjoyment or use. Industry that covers a wide range of activities...marketing analyticsmarketing analyticsThe set of processes for employing data to improve the effectiveness of marketing activities. It involves analysing metrics such as the Return on Investment (ROI) for identify opportunities of improve...visual presentation techniquesvisual presentation techniquesThe visual representation and interaction techniques, such as histograms, scatter plots, surface plots, tree maps and parallel coordinate plots, that can be used to present abstract numerical and non-...quantitative analysisquantitative analysisThe technique of employing statistical and mathematical modelling and measurement to represent a specific reality through numbers.statisticsstatisticsThe study of statistical theory, methods and practices such as collection, organisation, analysis, interpretation and presentation of data. It deals with all aspects of data including the planning of ...marketing department processesmarketing department processesThe different processes, duties, jargon, role in an organisation, and other specificities of the marketing department within an organisation such as market research, marketing strategies, and advertis...market researchmarket researchThe processes, techniques, and purposes comprised in the first step for developing marketing strategies such as the collection of information about customers and the definition of segments and targets...demographydemographyThe scientific field of study that deals with studying the size, structure, and distribution of the human population, and its geographical and temporal changes.marketing mixmarketing mixPrinciple of marketing that describes the four fundamental elements in marketing strategies which are the product, the place, the price and the promotion.marketing principlesmarketing principlesThe principles of managing the relationship between consumers and products or services for the purpose of increasing sales and improving advertising techniques.trendwatchingtrendwatchingThe practice of understanding the world and its ever-changing nature. The observation of different phenomena in the world in order to predict and foresee the evolution of things in the world.analyse market financial trendsanalyse market financial trendsMonitor and forecast the tendencies of a financial market to move in a particular direction over time.advise on market strategiesadvise on market strategiesAnalyse information and recommend possible improvements, market strategies, and customer preferences in order to adapt the company's market approach.draw conclusions from market research resultsdraw conclusions from market research resultsAnalyse, draw conclusions and present major observations from the results of market research. Suggest on potential markets, prices, target groups, or investments.analyse economic trendsanalyse economic trendsAnalyse developments in national or international trade, business relations, banking, and developments in public finance and how these factors interact with one another in a given economic context.identify customer's needsidentify customer's needsUse appropriate questions and active listening in order to identify customer expectations, desires and requirements according to product and services.analyse consumer buying trendsanalyse consumer buying trendsAnalyse buying habits or currently prevalent customer behaviour.analyse internal factors of companiesanalyse internal factors of companiesResearch and understand various internal factors that influence the operation of companies such as its culture, strategic foundation, products, prices, and available resources.identify market nichesidentify market nichesAnalyse the composition of the markets, segment these into groups, and highlight the opportunities that each one of these niches represent in terms of new products.analyse external factors of companiesanalyse external factors of companiesPerform research and analysis of the external factor pertaining to companies such as consumers, position in the market, competitors, and political situation.present reportspresent reportsDisplay results, statistics and conclusions to an audience in a transparent and straightforward way.identify potential markets for companiesidentify potential markets for companiesObserve and analyse market research findings in order to determine promising and profitable markets. Consider the firm's specific advantage and match it with markets where such value proposition is mi...make strategic business decisionsmake strategic business decisionsAnalyse business information and consult directors for decision making purposes in a varied array of aspects affecting the prospect, productivity and sustainable operation of a company. Consider the o...prepare market research reportsprepare market research reportsReport on the outcomes of the market research, main observations and outcomes, and notes helpful for analysing the information.perform market researchperform market researchGather, assess and represent data about target market and customers in order to facilitate strategic development and feasibility studies. Identify market trends.
Optional (40) — show
customer insightcustomer insightThe marketing concept referring to the deep understanding of the customer's motivations, behaviours, beliefs, preferences, and values that help understand the reasons why the way they do. This informa...customer servicecustomer serviceProcesses and principles related to the customer, client, service user and to personal services; these may include procedures to evaluate customer's or service user's satisfaction.interview techniquesinterview techniquesThe techniques for getting information out of people by asking the right questions in the right way and to make them feel comfortable.XQueryXQueryThe computer language XQuery is a query language for retrieval of information from a database and of documents containing the needed information. It is developed by the international standards organis...databasedatabaseThe classification of databases, that includes their purpose, characteristics, terminology, models and use such as XML databases, document-oriented databases and full text databases.SPARQLSPARQLThe computer language SPARQL is a query language for retrieval of information from a database and of documents containing the needed information. It is developed by the international standards organis...business analysisbusiness analysisThe research field which addresses the identification of business needs and problems and the determination of the solutions that would mitigate or prevent the smooth functioning of a business. Busines...resource description framework query languageresource description framework query languageThe query languages such as SPARQL which are used to retrieve and manipulate data stored in Resource Description Framework format (RDF).information confidentialityinformation confidentialityThe mechanisms and regulations which allow for selective access control and guarantee that only authorised parties (people, processes, systems and devices) have access to data, the way to comply with ...LDAPLDAPThe computer language LDAP is a query language for retrieval of information from a database and of documents containing the needed information.psychologypsychologyThe human behaviour and performance with individual differences in ability, personality, interests, learning, and motivation.LINQLINQThe computer language LINQ is a query language for retrieval of information from a database and of documents containing the needed information. It is developed by the software company Microsoft.data quality assessmentdata quality assessmentThe process of revealing data issues using quality indicators, measures and metrics in order to plan data cleansing and data enrichment strategies according to data quality criteria.N1QLN1QLThe computer language N1QL is a query language for retrieval of information from a database and of documents containing the needed information. It is developed by the software company Couchbase.gather datagather dataExtract exportable data from multiple sources.perform business analysisperform business analysisEvaluate the condition of a business on its own and in relation to the competitive business domain, performing research, placing data in context of the business' needs and determining areas of opportu...manage databasemanage databaseApply database design schemes and models, define data dependencies, use query languages and database management systems (DBMS) to develop and manage databases.perform data analysisperform data analysisCollect data and statistics to test and evaluate in order to generate assertions and pattern predictions, with the aim of discovering useful information in a decision-making process.establish data processesestablish data processesUse ICT tools to apply mathematical, algorithmic or other data manipulation processes in order to create information.apply statistical analysis techniquesapply statistical analysis techniquesUse models (descriptive or inferential statistics) and techniques (data mining or machine learning) for statistical analysis and ICT tools to analyse data, uncover correlations and forecast trends.build predictive modelsbuild predictive modelsCreate models to predict the probability of an outcome.analyse big dataanalyse big dataCollect and evaluate numerical data in large quantities, especially for the purpose of identifying patterns between the data.document project progressdocument project progressRecord the project planning and development, the work steps, the required resources and the final results in order to present and keep track of the realised and ongoing projects.conduct public surveysconduct public surveysConduct the procedures of a public survey from the initial formulation and compilation of the questions, identifying the target audience, managing the survey method and operations, managing the proces...study website behaviour patternsstudy website behaviour patternsResearch, analyse and optimise business results and user experience online through the use of tracking website metric tools.keep updated on innovations in various business fieldskeep updated on innovations in various business fieldsBe informed and acquainted with innovations and trends in different industrial and business fields for application in business development.conduct quantitative researchconduct quantitative researchExecute a systematic empirical investigation of observable phenomena via statistical, mathematical or computational techniques.conduct research interviewconduct research interviewUse professional researching and interviewing methods and techniques to gather relevant data, facts or information, to gain new insights and to fully comprehend the message of the interviewee.manage datamanage dataAdminister all types of data resources through their lifecycle by performing data profiling, parsing, standardisation, identity resolution, cleansing, enhancement and auditing. Ensure the data is fit ...apply knowledge of human behaviourapply knowledge of human behaviourPractice principles related to group behaviour, trends in society, and influence of societal dynamics.evaluate interview reportsevaluate interview reportsAssess the quality and plausibility of the interview results on the basis of the documentation while taking various factors into account such as the weighting scale.collaborate in the development of marketing strategiescollaborate in the development of marketing strategiesWork together with a group of professionals to develop marketing strategies performing market analysis and financial viability while staying aligned with the company's goals.apply technical communication skillsapply technical communication skillsExplain technical details to non-technical customers, stakeholders, or any other interested parties in a clear and concise manner.deliver visual presentation of datadeliver visual presentation of dataCreate visual representations of data such as charts or diagrams for easier understanding.perform project managementperform project managementManage and plan various resources, such as human resources, budget, deadline, results, and quality necessary for a specific project, and monitor the project's progress in order to achieve a specific g...tabulate survey resultstabulate survey resultsCollate and organise the answers gathered in interviews or polls in order to be analysed and draw conclusions from them.document interviewsdocument interviewsRecord, write, and capture answers and information collected during interviews for processing and analysis using shorthand or technical equipment.forecast economic trendsforecast economic trendsGather and analyse economic data in order to predict economic trends and events.follow the newsfollow the newsFollow current events in politics, economics, social communities, cultural sectors, internationally, and in sports.design questionnairesdesign questionnairesStudy the objectives of the research and imprint those aims into the design and development of questionnaires.
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Frequently asked questions
What does a market research analyst do?
Market research analysts collect the information gathered in the market research and study it to draw conclusions. They define the potential customers of a product, the target group and the way they can be reached. Market research analysts analyse the position of products in the market from different perspectives such as features, prices and competitors. They analyse cross selling and interdependencies between different products and their placement. Market research analysts prepare information helpful for the development of marketing strategies.
What skills does a market research analyst need?
A market research analyst needs 26 essential skills, including digital data processing, consumer goods industry, marketing analytics, visual presentation techniques, quantitative analysis.
Will AI replace market research analyst jobs?
The AI disruption score for market research analyst is 64/100 (high risk). Skills most exposed to automation: tabulate survey results, follow the news, LDAP. Most resilient: demography, make strategic business decisions, psychology.
AI Replacement Risk
64/ 100
High Risk
Low riskHigh risk
Skills most at risk from AI
Skills resilient to automation
This is the average for the whole occupation. The AI Career Shield test (about 10 minutes) shows the risk in your own work and what you can do about it.
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