Imagine that you’ve just made a purchase online. Then a window pops up and asks if you want to take a short survey to review your experience. Since you’ll get a coupon for completing the short questionnaire, you decide to click through them and move on. While your experience here ends, that of a market research analyst has just begun.
What is a Market Research Analyst?
All the surveys that customers like you have to be analyzed so the company can make meaningful changes. Research analysts look at graphs made on the computer showing what percent had great experiences and ask meaningful questions. It takes skill to interpret the answers to those questions. That’s only part of what a market research analyst does, however. Businesses are constantly on the lookout for different ways to engage with customers. Insights from market research can help them make better decisions. Of course, this career path involves understanding what services or products people want to pay for. But it also involves looking at market conditions for potential sales opportunities. Understanding the audience helps a company maximize its profits.
What Else Does an Analyst Do?
Research is just the start of this career field. One challenge is coming up with actionable insights when the goal is fairly open-ended. Successful analysts will build relationships with clients, studying their needs and objectives, and learning about the dynamics of their team can help. You’ll also need to be able to draw conclusions based on this data. You won’t just be talking about the number of people who like a product. You’ll also need to understand why this is. Think of it as being a storyteller. A great analyst will take numbers and interviews and turn them into great recommendations that clients can act on.
How to Work in Market Research
As with many related career paths, you’ll likely need at least a bachelor’s degree. You have some flexibility in what diploma you choose because several disciplines converge here. For example, many people choose business, marketing, psychology, or statistics. Majoring in one and minoring in another may give you a leg up when it comes to landing a job. You have a lot of opportunity for growth in this field, and many graduates quickly find employment. For some people, however, getting to graduation may be a challenge. Finances are often one obstacle when it comes to education. That’s why many students choose to borrow money. The good news is that it is certainly possible to take out a private student loan without a co-signer. That way, even if you max out federal aid, you can still cover your costs.
Getting Your Dream Job
Of course, an undergraduate degree isn’t the only thing that will get you into an amazing career. Some analyst jobs might also require a master’s. And no matter what company you work at, you’ll need to have some experience. Consider getting an internship between semesters. You’ll also want to create a strong resume. List any research-based projects that highlight your skills.