Market Research Analyst

Research conditions in local, regional, national, or online markets. Gather information to determine potential sales of a product or service, or plan a marketing or advertising campaign. May gather information on competitors, prices, sales, and methods of marketing and distribution. May employ search marketing tactics, analyze web metrics, and develop recommendations to increase search engine ranking and visibility to target markets.

On the job, you would:

Prepare reports of findings, illustrating data graphically and translating complex findings into written text.
Collect and analyze data on customer demographics, preferences, needs, and buying habits to identify potential markets and factors affecting product demand.
Conduct research on consumer opinions and marketing strategies, collaborating with marketing professionals, statisticians, pollsters, and other professionals.

Important Qualities

Analytical skills. Market research analysts must evaluate large amounts of data and information related to market conditions.

Communication skills. Market research analysts must be able to clearly convey information when gathering material, interpreting data, and presenting results to clients.

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

Detail oriented. Market research analysts must pay attention to minutiae to evaluate data.

Personality

A3	Your Strengths	Importance	Characteristics of this Career
		99%	Analytical Thinking - Job requires analyzing information and using logic to address work-related issues and problems.
		95%	Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
		91%	Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
		90%	Integrity - Job requires being honest and ethical.
		84%	Initiative - Job requires a willingness to take on responsibilities and challenges.
		82%	Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace.
		77%	Persistence - Job requires persistence in the face of obstacles.
		76%	Independence - Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
		76%	Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
		74%	Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
		72%	Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high-stress situations.
		71%	Innovation - Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.
		63%	Leadership - Job requires a willingness to lead, take charge, and offer opinions and direction.
		60%	Self-Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
		56%	Concern for Others - Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.

A3	Your Strengths	Importance	Strengths
		95%	Investigative - Work involves studying and researching non-living objects, living organisms, disease or other forms of impairment, or human behavior. Investigative occupations are often associated with physical, life, medical, or social sciences, and can be found in the fields of humanities, mathematics/statistics, information technology, or health care service.
		67%	Enterprising - Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.

A3	Your Strengths	Importance	Values of the Work Environment
		61%	Achievement - Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
		56%	Working Conditions - Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
		56%	Support - Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.

Aptitude

A3	Your Strengths	Importance	Abilities \| Cognitive, Physical, Personality
		78%	Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
		75%	Written Comprehension - The ability to read and understand information and ideas presented in writing.
		75%	Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
		75%	Written Expression - The ability to communicate information and ideas in writing so others will understand.
		75%	Fluency of Ideas - The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
		75%	Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
		75%	Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
		72%	Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
		69%	Category Flexibility - The ability to generate or use different sets of rules for combining or grouping things in different ways.
		69%	Speech Clarity - The ability to speak clearly so others can understand you.
		66%	Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
		66%	Near Vision - The ability to see details at close range (within a few feet of the observer).
		60%	Originality - The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem.
		60%	Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.
		56%	Speech Recognition - The ability to identify and understand the speech of another person.
		53%	Number Facility - The ability to add, subtract, multiply, or divide quickly and correctly.

A3	Your Strengths	Importance	Skills \| Cognitive, Physical, Personality
		66%	Reading Comprehension - Understanding written sentences and paragraphs in work-related documents.
		59%	Writing - Communicating effectively in writing as appropriate for the needs of the audience.
		59%	Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
		57%	Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
		57%	Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
		57%	Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
		57%	Speaking - Talking to others to convey information effectively.
		55%	Systems Analysis - Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
		55%	Systems Evaluation - Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
		54%	Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
		52%	Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.

Job Details

Responsibilities

Analyze consumer trends.

Prepare research reports.

Conduct surveys in organizations.

Analyze market conditions or trends.

Gather organizational performance information.

Measure effectiveness of business strategies or practices.

Analyze consumer trends.

Discuss business strategies, practices, or policies with managers.

Gather organizational performance information.

Analyze market conditions or trends.

Monitor business indicators.

Analyze industry trends.

Establish business management methods.

Develop business or market strategies.

Supervise employees.

A3	Your Strengths	Importance	Attributes & Percentage of Time Spent
		100%	Electronic Mail - How often do you use electronic mail in this job?
		91%	Spend Time Sitting - How much does this job require sitting?
		90%	Telephone - How often do you have telephone conversations in this job?
		88%	Freedom to Make Decisions - How much decision making freedom, without supervision, does the job offer?
		86%	Importance of Being Exact or Accurate - How important is being very exact or highly accurate in performing this job?
		82%	Structured versus Unstructured Work - To what extent is this job structured for the worker, rather than allowing the worker to determine tasks, priorities, and goals?
		81%	Face-to-Face Discussions - How often do you have to have face-to-face discussions with individuals or teams in this job?
		81%	Contact With Others - How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it?
		76%	Indoors, Environmentally Controlled - How often does this job require working indoors in environmentally controlled conditions?
		76%	Time Pressure - How often does this job require the worker to meet strict deadlines?
		75%	Work With Work Group or Team - How important is it to work with others in a group or team in this job?
		72%	Letters and Memos - How often does the job require written letters and memos?
		65%	Impact of Decisions on Co-workers or Company Results - What results do your decisions usually have on other people or the image or reputation or financial resources of your employer?
		64%	Deal With External Customers - How important is it to work with external customers or the public in this job?
		63%	Coordinate or Lead Others - How important is it to coordinate or lead others in accomplishing work activities in this job?
		58%	Frequency of Decision Making - How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization?
		57%	Level of Competition - To what extent does this job require the worker to compete or to be aware of competitive pressures?
		56%	Responsibility for Outcomes and Results - How responsible is the worker for work outcomes and results of other workers?
		83%	Duration of Typical Work Week - Number of hours typically worked in one week.

A3	Your Strengths	Importance	Tasks & Values
		97%	Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.
		95%	Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
		93%	Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.
		91%	Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
		90%	Working with Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
		89%	Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.
		83%	Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.
		81%	Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.
		81%	Communicating with People Outside the Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
		78%	Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
		78%	Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.
		78%	Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.
		77%	Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
		75%	Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
		73%	Providing Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
		72%	Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
		67%	Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
		65%	Judging the Qualities of Objects, Services, or People - Assessing the value, importance, or quality of things or people.
		62%	Coordinating the Work and Activities of Others - Getting members of a group to work together to accomplish tasks.
		61%	Scheduling Work and Activities - Scheduling events, programs, and activities, as well as the work of others.
		60%	Monitoring and Controlling Resources - Monitoring and controlling resources and overseeing the spending of money.
		59%	Estimating the Quantifiable Characteristics of Products, Events, or Information - Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.
		59%	Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members.
		59%	Monitoring Processes, Materials, or Surroundings - Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
		52%	Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.

What Market Research Analysts Do

Market research analysts gather and analyze data on consumers and competitors.

Market research analysts study consumer preferences, business conditions, and other factors to assess 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 data and findings into tables, graphs, and written reports
Prepare reports and present results to clients and management

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

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

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 that market research analysts use are survey researchers.

Work Environment

Market research analysts held about 868,600 jobs in 2022. The largest employers of market research analysts were as follows:

Management, scientific, and technical consulting services	11%
Finance and insurance	9
Information	8
Wholesale trade	7
Management of companies and enterprises	7

Because most industries use market research, these analysts are employed throughout the economy.

Market research analysts work individually or as part of a team, collecting, analyzing, and presenting data. For example, some analysts work with graphic designers and artists to create charts, graphs, and infographics summarizing their research and findings.

Work Schedules

Most market research analysts work full time during regular business hours.

Getting Started

Education:

57%

Bachelor's Degree

39%

Master's Degree

How to Become a Market Research Analyst

Market research analysts measure the effectiveness of marketing strategies.

Market research analysts typically need a bachelor’s degree. Some employers require or prefer that job candidates have a master’s degree. Strong research and analytical skills are essential.

Education

Market research analysts typically need a bachelor's degree in market research or a related business, communications, or social science field.

Courses in statistics, research methods, and marketing are important for prospective analysts. Courses in communications and social sciences, such as economics or consumer behavior, are also helpful.

Some employers of market research analysts require or prefer a master’s degree. Several schools offer graduate programs in marketing research, but analysts may choose to complete a bachelor’s degree in another field, such as statistics and marketing, and 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

Analysts may pursue certification, which is voluntary, to demonstrate a level of professional competency. The Insights Association offers several certifications for market research analysts, including the IPC Principal and the IPC Masters. Candidates qualify based on industry experience and passing an exam.

Other Experience

Completing an internship while in school may be helpful. Prospective analysts also may gain experience by volunteering for an organization and helping with market research or related projects.

Employers may prefer to hire candidates who have experience in other positions that require collecting and analyzing data or writing reports to summarize research.

Job Outlook

Employment of market research analysts is projected to grow 13 percent from 2022 to 2032, much faster than the average for all occupations.

About 94,600 openings for market research analysts are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.

Employment

Employment growth will be driven by an increasing use of data and market research across many industries. These workers will be needed to help understand the needs and wants of customers, measure the effectiveness of marketing and business strategies, and identify the factors affecting product demand.

The increase in the collection and analyses of big data—extremely large sets of information, such as social media comments or online product reviews—can provide insight on consumer behaviors and preferences. Businesses will need market research analysts to conduct analyses of the data and information.

Contacts for More Information

For more information about market research analysts, visit

Insights Association

For resources and information about qualitative research, visit

Qualitative Research Consultants Association (QRCA)

Similar Occupations

This table shows a list of occupations with job duties that are similar to those of market research analysts.

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