With surging market competition, companies are increasingly becoming dependent on market research analysts to make informed decisions. Their unmatchable skills and training to create and implement data-driven strategies help companies grow even under immense rivalry. It is also a reason why hire research analysts are hired at higher pay scales. If you want to become a market research analyst and contribute to companies’ growth, you would need the right knowledge of education, professional degree, and skills required specifically for this industry.
Let us know how to become a research analyst.
1- Get Technical Education
Market research analysis is about finding and delivering data-backed insights into potential markets, competitors, and customer behavior. To accomplish this task, the professionals also have to go through technical work. Therefore, you must have knowledge about technical tools and programming languages.
Here is what you need to know:
Data Collection Tools: As a market research analyst, you would have to collect data from various sources, such as surveys, keyword trends, social media platforms, etc. Hence, learning about tools like Qualtrics, SurveyMonkey, Typeform, Google Trends, and SEMrush will let you extensively learn about customers, market trends, and competition.
Statistical Analysis and Data visualization: Knowing how to implement statistical techniques to aggregate your data into relevant and actionable findings is highly essential since you would need to work with quantitative data. You would need data visualization tools like Plotly, Tableau, and Qlikview for this purpose.
Programming Languages: Programming languages, such as R, SQL, SAS, or SPSS are used to feed data gathering and data interpretation. Not all companies use these languages, but some do prefer and mention it in their job description.
2- Earn Hands-On Work Experience
The job role of the market research analyst is beyond marketing. Therefore, companies look for professionals who already have years of experience in the marketing industry.
Working as a marketing research intern, marketing assistant, account representative, or in a related position for a couple of years will help you gain industry knowledge to apply in a market research analyst job.
Having the background of working as a marketing professional will open greater opportunities for you.
3- Earn Certifications
There are different market research and analytics courses that you can enroll in to begin your career as a market research analyst.
Having certificates in market research and analytics proves that you are aware of the current marketing research requirement of the industry. Certifications are short courses that keep you updated with the alterations in the marketing industry.
Hence, the more certificates you earn the more skilled you become and gain the industry knowledge required to operate successfully in a market research analyst role.
Skills You Need to Become a Marketing Research Analyst
A successful marketing analyst is not only well educated but also possesses some of the skills relevant to the field. Having or developing the following skills will give you thrust to grow in your carrier:
It is the topmost essential skill required to become a research analyst. Market research analysts have to regularly interact with professionals and consumers around them including clients, consumers, technicians, designers, and sales and marketing teams.
They also have to communicate their complex ideas and concepts with top management officials and senior stakeholders. With each communication, they must ensure that their thoughts are well understood by their audiences.
Driving conclusions and gaining insights from data analysis requires critical thinking capabilities. Their job role involves the development of the business strategies, assessment of the feasibility, advantages, and probable outcomes of each strategy.
Moreover, they have to design a user survey and then create a report specifying the concerns and needs of their consumers. Plus, they need to make crucial decisions on choosing the best business strategy for the company. Accomplishing these tasks can be very difficult for a professional without critical thinking skills.
Presently, every industry utilizes computers to connect with the audience or to speed up their tasks, and market research analysis is no exception.
A marketing research analyst has to store, process, and access data, create presentations, use social media platforms to conduct surveys, and perform online research. Knowledge of relevant software tools will help you simplify such tasks and create better strategies.
Managing resources, assigning tasks, scheduling workflows, and keeping track of deadlines are some of the essential tasks of a research analyst. Hence, you must have organizational skills to manage these tasks effectively. If you possess the art of switching between two or more tasks, you can save time and become more productive.
Analytical skill is the fundamental necessity of a market research analyst’s work as they have to study a large volume of data to develop and execute complex methodologies.
The skill is also valuable while managing the team of analysts who generate useful insights from the data and problem statements collected from their clients.
Marketing research analysts play a vital role in the growth of an organization, which makes the job more challenging. In order to ensure your success in this field make sure you pursue the right education, work experience, and skills. If the required skills do not come naturally, you can develop them with regular practice or through professional courses.