Career Spotlight: Market Research Analyst

Do you like analyzing data? Are you interested in sales forecasting? If so, then a career as a Market Research Analystmay be perfect for you.

On the other hand, if you don’t enjoy gathering data, preparing reports, critical thinking and problem solving, becoming a market research analyst may not be a good fit for you.

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.

Bureau of Labor Statistics

What do you need to be a Market Research Analyst?

Education:

According to the Bureau of Labor Statistics, 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 communication. Some market research analyst jobs require a master’s degree.

If you are a high school student and would like to become a market research analyst, consider taking a marketing or business class while in high school.

Market Research Analyst may be a good career change option for advertising managers, public relations specialists and economists.

Skills:

Market Research Analysts know about:

• Customer Service
• Sales & Marketing
• Critical Thinking & Complex Problem Solving
• Communications & Media
• Monitoring
• Coordination

Is the field growing?

ONET reports that careers in Market Research are expected to increase by 32% over the next 10 years.

What is the pay like?

 

What’s the Holland Code* for a Market Research Analyst?

 

Interest code: IEC – Investigative, Enterprising, Conventional

Investigative — Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.

Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.

Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

Source: http://www.onetonline.org/link/summary/13-1161.00

 

If you are interested in learning more about becoming a Market Research Analyst, go to ONET. You should also check out U.S. News & Work Reports article Market Research Analyst.

 

Would you want to be a Market Research Analyst? Why or why not?

 

*Holland Codes are a way to classify a person based on their skills and interests as well as jobs based on the nature of the work. If you have an interest in knowing what your Holland Code is in order to match yourself to careers to pursue, you can read more about our assessment process.