Strong written and oral communication skills are essential
Chances are, when scrolling through job adverts, you skip right past market analyst roles to something which sounds more familiar or fun. But a career as an analyst can be one of the more dynamic positions in the marketing mix. As a market analyst your job is to study information to help your employer or client make informed decisions about their market. This could range from what markets to launch a product in, to the price you might charge for something.
The information you analyse could be presented as numbers or words. For the former, you need to be highly numerical and able to make sense of large sets of numbers. Statistical skills are useful — maths and analytics qualifications are also keys. To analyse text, it is about digesting large quantities of information to understand what is relevant and what is not. For both, you will present your opinion, based on the analysis, in written reports and presentations. Attention to detail and the ability to detail and the ability to interpret and communicate information effectively are keys for this aspect of the role.
Like in so many roles, the internet, social media and Twitter have begun to revolutionise some aspects of research analysis. There is a more immediate response to requests for information and greater access to a wider pool of information. This means you can identify trends and patterns of behaviour more quickly and efficiently. As you progress through your career, you are likely to specialise by sector. You will see experts on the news and in specialist publications commenting on trends and behaviours on almost any topic. Companies such as Datamonitor, Mintel and Euromonitor are often quoted — these are consultancy firms who sell reports to client companies. In such a company, your day will involve dealing with client queries, pulling together results from analysis and preparing reports.
To get into market analysis, you need to be able to show a particular set of skills on your CV. This may include knowledge of software such as Excel or SPSS, as well as border statistical skills. Typical degree subjects are maths, social sciences, history and English, as these demonstrate the ability to analyse and interpret information. At interview, you will be asked to illustrate your analytical skills. Think about your dissertation or major projects you have worked on — you will most likely have used analysis skills in your work for them.
Strong written and oral communication skills are also essential, as presenting your findings is an important part of the job. In the role, your will need to follow the thread of a story through to the key information, piecing together bits of information as you go. This makes curiosity a vital personal characteristic, and one which you should be able to demonstrate in your job application. — The Guardian
