Sales, Marketing and Communications
Market Research Analyst
Market research analysts examine data to identify trends and establish potential markets or sales techniques for products or services.
What does a Market Research Analyst do?
Market research analysts examine data to identify trends and establish potential markets or sales techniques for products or services. They help companies understand what products people want, who will buy them, and at what price.
As a market research analyst, you would:
- devise and use surveys, questionnaires, and opinion polls to gather data
- check the quality of data gathered
- use relevant statistical software to analyse the data
- convert complex data and findings into easy-to-read tables, graphs, and written reports
- present results to clients and management
- monitor and forecast marketing and sales trends
- measure the effectiveness of marketing programs and strategies.
Key skills and interests
To become a market research analyst, you would need:
- excellent maths and computer skills
- the ability to design data collection mechanisms
- the ability to analyse and interpret statistics and other data
- good spoken and written communication skills
- creative ability to make data interesting for people who aren’t experts
- problem-solving skills
- accuracy and strong attention to detail.
Working hours and conditions
In a full-time role as a market research analyst, you would work a standard number of hours per week, with necessary overtime to meet project deadlines. You may sometimes need to work in the evenings if, for example, you were conducting a series of focus groups.
The majority of market researcher analysts are employed by marketing or market research agencies that carry out projects for different companies and industries.You would usually be based in an office with occasional travel to client meetings.
How to become an Market Research Analyst?
Entry Level Education
Market research analysts typically complete a degree in market research, or in business, management or commerce with a major in marketing. A degree in other relevant subjects such as statistics, sociology, maths or economics may also be appropriate. To get into these courses you usually need to gain your senior secondary school certificate or equivalent. English and mathematics are appropriate subjects to study prior to university.
Graduates of marketing courses may qualify for membership of the Australian Marketing Institute or Australian Market and Social Research Society.
Employment of market research analysts is projected to grow much faster than the average for all occupations.
Employment growth will be driven by an increased use of data and market research across all industries, to understand the needs and wants of customers, and to measure the effectiveness of marketing and business strategies.