what is product research analyst

Product Analyst

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What Is a Product Analyst? How to Become One, Salary, Skills.

Product analysts employ product analytics and research to assess the performance of a new product or feature. Here’s what to know about a product analyst’s needed skills, salary and how to become one.

What Is a Product Analyst?

Product analysts are responsible for conducting product and user research as well as analyzing related data to support the product development process. They largely ensure a product is reaching the right audiences and meeting both user and business needs. Product analysts tend to be involved in the pre-launch and post-launch stages of product development. 

What Do Product Analysts Do?

Product analysts interpret quantitative product and user data to support product decisions, changes and optimizations.

Product Analyst Responsibilities

• Conduct product analysis to determine requirements for product success.
• Perform user research to understand specific audience needs.
• Interpret market research data to gauge market needs and compare competitor products.
• Develop metrics from research to track product goals during development.
• Identify product errors or usability issues.

Day-to-Day Responsibilities of Product Analysts

• Create polls, interviews and surveys to gather user feedback on product features.
• Utilize user segmentation analysis to categorize and compare product audiences.
• Use methodology frameworks like AARRR or Google’s HEART framework to define user metrics and UX needs.
• Use A/B testing tools like Adobe Target to compare product versions.
• Communicate findings and recommendations with product team and stakeholders.

Product Analysts Within a Company

Product analysts are usually part of a product or IT team within a company. They may collaborate with marketing analysts, software developers and UX designers to accomplish their work. They also tend to report to senior product analysts or product managers .

Importance of Product Analysts

Product analysts help to translate user needs into product needs, ensuring products are being created for the highest success rate possible among its audience. Without product analysts, new products may not perform, function or sell as intended upon release.

What Skills Are Needed to Be a Product Analyst?

Qualifications to be a product analyst.

• One or more years of experience in business analysis, systems analysis or similar roles.
• Ability to conduct product analysis and research.
• Ability to conduct user analysis and research. 
• Ability to directly work with and understand customers and clients.

Product Analyst Prerequisites

• Bachelor’s degree in business, economics, mathematics or a similar field.

Product Analyst Hard Skills

• Experience with project management and product development life cycles.
• Expertise in data, market and user analysis tools and techniques.
• Familiarly with feature flag management tools.
• Knowledge of customer survey tools and best practices.
• Knowledge and use of data visualization tools (Microsoft PowerPoint, Tableau).

Product Analyst Soft Skills

• Analytical thinking skills.
• Critical thinking skills.
• Problem-solving skills.
• Verbal and written communication skills.

Tools and Programs Product Analysts Use

• Adobe Analytics 
• Adobe Target 
• Google Analytics
• Quantum Metrics
• SurveyMonkey

How to Become a Product Analyst

Product analyst education and experience.

Product analyst candidates are often expected to hold a bachelor’s degree in business, economics, mathematics or a similar field.

Product analysts will need to obtain experience in business analysis, systems analysis or similar roles. Knowledge in the areas of product and user analysis, feature flagging and testing, product development, project management and effective communication are also recommended.

Product Analyst Certificates and Courses

• Complete Course on Product A/B Testing with Interview Guide
• Data Analytics 101: Business KPIs & User Metrics analysis
• Fast-start Usability Testing and UX Research
• Product Development Master Course

Product Analyst Career Path

If not starting as a product analyst, professionals may begin their career beforehand as a business analyst , data analyst , systems analyst or a similar role. After gaining experience as a product analyst, professionals can move on to be a senior product analyst or lead product analyst. From here, professionals may approach management and leadership roles like product manager, senior product manager and director of product management.

Product Analyst Salary and Job Outlook

Product analysts, grouped under market research analysts by the U.S. Bureau of Labor Statistics, are expected to see a job increase of 19 percent by 2031.

The full compensation package for a product analyst depends on a variety of factors, including but not limited to the candidate’s experience and geographic location. See below for detailed information on the average product analyst salary.

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Product Analyst Certifications + Programs

Open more doors for your career by securing online product management certifications with Udacity.

General Assembly’s Product Management course teaches the end-to-end product management (PM) process to a real-world scenario, from evaluating users and managing a roadmap to creating a minimum viable product (MVP) and developing metrics.

What you'll accomplish

This is a beginner-friendly program with no prerequisites, although students may have had exposure to product development concepts or be informally taking on PM responsibilities in their current role. Throughout this expert-designed program, you’ll:

• Determine key risks and assumptions of a product in order to prioritize research and discovery work.
• Validate hypotheses by gathering user feedback via MVPs, interviews, experiments, and testing.
• Execute competitive research to highlight market gaps and trends.
• Speak fluently with developers, user experience designers, and other business stakeholders about priorities, requirements, and workflow.
• Apply metrics alongside objectives and key results (OKRs) to measure a product’s success and track its life cycle.
• Apply what you’ve learned to create a portfolio project: a presentation detailing your product creation strategy.

Why General Assembly

Since 2011, General Assembly has graduated more than 40,000 students worldwide from the full time & part time courses. During the 2020 hiring shutdown, GA's students, instructors, and career coaches never lost focus, and the KPMG-validated numbers in their Outcomes report reflect it. *For students who graduated in 2020 — the peak of the pandemic — 74.4% of those who participated in GA's full-time Career Services program landed jobs within six months of graduation. General Assembly is proud of their grads + teams' relentless dedication and to see those numbers rising. Download the report here .

Your next step? Submit an application to talk to the General Assembly Admissions team

Note: reviews are referenced from Career Karma - https://careerkarma.com/schools/general-assembly

General Assembly’s Data Analytics Immersive is a transformative course designed for you to get the necessary skills for a data analyst role in three months. 

The Data Analytics bootcamp is led by instructors who are expert practitioners in their field, supported by career coaches that work with you since day one and enhanced by a career services team that is constantly in talks with employers about their tech hiring needs.

As a graduate, you’ll have a portfolio of projects that show your knowledge of data analytics skills, as well as experience with visualization tools and frameworks that employers demand. Throughout this expert-designed program, you’ll:

• Acquire, analyze, and visualize data sets in real time.
• Master industry-standard tools like SQL, Excel, Tableau, PowerBI, and Python.
• Turn data into stories that can influence and inform important decisions.
• Ask the right questions and answer them with data-informed insights.
• Demonstrate what you’ve learned with a solid professional portfolio.

Note: reviews are referenced from Career Karma - https://careerkarma.com/schools/general-assembl

Careers Related to Product Analyst

Latest product management jobs, companies hiring product analysts, most common skills for product analyst, related product management careers.

What is a Product Analyst? Roles and Responsibilities

What is a Product Analyst?

A product analyst considers a company’s budget and mission to help them create a profitable product plan. Companies can involve a product analyst in decisions about a product’s design, marketing, and pricing.

Table of Contents

Product analyst role and responsibilities.

The following are the key role and responsibilities of a product analyst:

• Developing and delivering tangible consumer benefits through the product or service of the business.
• Measuring and monitoring the product or service’s performance as well as presenting product related consumer, market, and competitive intelligence.
• Developing and proposing the overall product strategies , innovation, presentation of marketplace outcome projections, as well as product culture development.
• Monitors the market, competitor activities, as well as any price movements and make recommendations that will be used in key decision making.
• Liaises with other departments such as the IT department in the business to enhance and increase the efficiency of effecting price changes in accordance with market shifts.
• Drives consumer intelligence through the development of external and internal data sources that improve the business’s understanding of the product’s market, competitor activities, and consumer activities.
• Develops or adopts research tools, sources, and methods that further support and contribute to the business’s product marketing management intelligence.
• Ensures that there is compliance with relevant legislation, regulations, and ethics.
• Formulating ways in which to package and market products in such a way that they become differentiated, compelling, easy to sell, and easy to buy.
• Identifies and manages the on-going rationalisation of the business’s products.
• Performs the initial product analysis to assess the need for any requested changes as well as their potential impact.
• Supports product teams in their product decisions using quantitative data to inform the next steps. 
• Creates metrics, or use existing ones, and monitor them to evaluate if the product direction is making users happy.
• Understand metrics, as it’s not always obvious why a metric changed in a certain way.
• Understand all their users, and sometimes it means understanding why a product may work for some people and not others.
• Undertakes exploratory data analysis by understanding what data exists, importing it, cleaning it, and asking tons of questions.
• Provide timely data insights.
• Undertakes financial modelling on the products or services of the business as well as of the target markets to bring about an understanding of the relations between the product and the target market.
• Produces reports and makes recommendations to be used as guidance in decision making pertinent to the business’s new as well as existent products.
• Ensures that third parties comply and familiarity with all business processes and policies.
• Analyse market data, marketing strategies are developed, and these are used to enhance the reception of those products in the market.
• Collects data via customer polls and market research to make recommendations about products, marketing plans and launch strategies.

Product Analyst Key Skills

The following are the key skills of a product analyst:

• Business acumen – a good understanding of business.
• Creativity in finding solutions.
• Critical thinking.
• Enjoy experimenting with data.
• Attention to detail.
• Logical thinker.
• Proactive idea sharing combined with out-of-the-box thinking.
• Attention to detail with a focus on accuracy.
• Strong interpersonal skills.

How To Become A Product Analyst 

Most product analysts have a degree and will undertake formal training to develop their careers. Companies may look for professionals in the disciplines of  accounting, business, marketing, or a related field. Additional courses in business communication, computer software and analysis tools may also be helpful

How Much Does A Product Analyst Make?

In the United States of America (USA) a product analyst may earn on average between $70k – $80k.

Product Analyst vs Business Analyst

Business analyst vs product analyst – the product analyst role is different to that of a business analyst.

Whilst the business analyst helps to improve communication between stakeholders and those who design/deliver solutions. They also understand enterprise problems & goals; analyse needs & solutions; devise strategies; drive change and facilitate collaboration.

A product analyst is more product focussed on what the product offers and what product capabilities are suited to target customers and will analyse the market and use data to understand how to improve the product and delight users. 

Of course both a business analyst and a product analyst can work alongside one another to improve the organisation’s products.

Product Analyst vs Product Manager

Product manager vs product analyst – of course a product manager can work alongside a product analyst. A product manager will be more focussed on the product strategy and product roadmap and working with the product team to deliver the product.

It is important that the product analyst works well with the product manager for the product to fulfil its potential to customers and the marketplace.

Jerry Nicholas

Jerry continues to maintain the site to help aspiring and junior business analysts and taps into the network of experienced professionals to accelerate the professional development of all business analysts. He is a Principal Business Analyst who has over twenty years experience gained in a range of client sizes and sectors including investment banking, retail banking, retail, telecoms and public sector. Jerry has mentored and coached business analyst throughout his career. He is a member of British Computer Society (MBCS), International Institute of Business Analysis (IIBA), Business Agility Institute, Project Management Institute (PMI), Disciplined Agile Consortium and Business Architecture Guild. He has contributed and is acknowledged in the book: Choose Your WoW - A Disciplined Agile Delivery Handbook for Optimising Your Way of Working (WoW).

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Why Become a Product Analyst? Careers, Salaries, and Requirements

Discover information about product analyst skills, salary, and job responsibilities in this guide. Uncover insights into this career to understand if it's for you.

Product analysts watch how people use products and then analyse the data they collect—tracking usage patterns, identifying trends, and making inferences about customers' preferences, needs, and behaviours.

If you love data and are curious, innovative, and collaborative, consider a career as a product analyst. Product analysts are in high demand. Organisations need them to gather and interpret data to design better products and services. As a product analyst, you'll work on exciting projects throughout the product lifecycle and directly impact product strategy and business performance.

Read on to learn more about what a product analyst does and how to become one.

What is a product analyst?

As a product analyst, you research and analyse customers' behaviours who use a product or service. Companies that design and manufacture consumer products, such as products for the office, home, car, and tech gadgets typically employ product analysts.

The product analyst's job entails gathering and analysing data on how customers use a particular product. This allows you to determine what product features are widely adopted and which need improvement. You can contribute to every stage of developing a new product, from conducting market research before the actual design process begins to analysing market trends after the product is available. You’ll also help decide when a product has come to the end of its life.

Product analyst responsibilities 

Product analysts are at the heart of product planning and development, helping teams create products by delivering data-driven insights about customers and markets, including areas of improvement in the product lifecycle. They provide insight that drives management decisions on product direction and investment.

Here are some of the main responsibilities of a product analyst:

Monitor product performance. As a product analyst, you’ll monitor the performance of products over their lifecycle. You'll identify patterns and trends that indicate how well a product performs on the market, monitor sales numbers, and gather customer feedback data to gauge performance.

Gather and analyse customer feedback. The day-to-day role of a product analyst involves using data to understand customer perception of products. You may conduct in-depth interviews with individual customers, facilitate focus groups, or even create polls to collect feedback from many customers on specific issues related to the product you’re evaluating.

Evaluate products and find ways to improve performance. You’ll draw insights about products from the data you’ve gathered. The goal of a product analyst is to evaluate products to determine how they can be improved or updated, as well as to study competitors' products (such as quality and price point) to ensure your product holds up in the market.

Create reports and presentations about product data findings. Creating reports and presentations about data findings and insights is a frequent task as a product analyst. You’ll use charts, graphs, tables, or other visuals to represent the data in a way other stakeholders easily understand. Sometimes, you'll present the findings to senior management to justify your product recommendations.

Skills needed

When building your resume for a product analyst role, knowing the product analyst skills and experience employers are looking for is helpful. You'll want to list your technical skills but demonstrate your workplace skills implicitly in interviews.

Technical skills

You'll need These technical proficiencies to succeed as a product analyst.

Knowledge of economics: Understanding the economic principles that govern product development and market research is essential. Product analysts use data to help drive decisions that improve product performance, so it's helpful to be comfortable with basic economic concepts like supply and demand.

Market research expertise: Being an expert in market research, including the tools and methods used to gather customer data, is necessary for developing key product insights.

Writing detailed and comprehensive reports: Being able to produce detailed reports by summarising and presenting your findings will contribute to your success. If you can engage stakeholders and convince them to consider your data-driven insights, you can affect change. 

Data analytics techniques: Experience using data analytics tools to analyse large data sets and derive insights are needed. Some techniques include:

Cohort analysis

A/B testing

Retention analysis

Heat mapping

Form analysis

Funnel analysis

Session replay

User survey

Product management: You should have a strong grasp of the product management lifecycle, from design to development to distribution. This background is necessary to help you draw actionable insights as a product analyst.

SQL: Structured query language (SQL) is essential for any product analyst as it enables you to extract information from various databases across your organisation. You’ll need SQL to gain access to the data you want to work with for your analysis. You may also need NoSQL data skills if your company uses big data warehouses of unstructured data.

Statistics: You’ll have to find, collect, and analyse data, making conclusions based on the findings. If you understand the statistical side of data analytics, be able to make projections and infer causation and correlations from data.

MS Office applications: You'll likely use Microsoft Excel, PowerPoint, Word, or similar applications regularly.

Workplace skills

Product analysts work on teams, collaborating with data and IT professionals, engineers, designers, and marketing to deliver core insights. These skills will enable you to work successfully with others.

Creativity: As an analytics professional, you must think creatively when finding solutions to complex issues. You'll also want to be creative and strategic in telling stories with data that convince stakeholders to implement these solutions.

Motivation: While working as a product analyst, you often investigate new products and processes, which can mean working independently.

Communication: As a product analyst, you'll need to share your findings with others in presentations and written reports. You must also explain technical information and data-driven insights to non-technical colleagues.

Collaboration: A product analyst's findings often impact the work of other employees. You must be able to share information with colleagues effectively, take feedback gracefully, and use collaborative efforts to improve your work processes.

Organisational skills: Often, there will be a need to work on multiple projects simultaneously, so you need to be organised and keep track of each project. You’ll also need to be careful about keeping data up-to-date. Outdated numbers and disorganised data will affect your ability to draw insights.

Salary outlook for product analysts 

India's average product analyst base salary is ₹12,85,484 [ 1 ]. The average additional pay is ₹1,00,000, which could consist of commissions or other bonuses. 

Additional job titles are related to the product analyst role, and these roles require having similar competencies:

Senior product analyst: ₹19,98,359 [ 2 ]

Lead product analyst: ₹25,25,000 [ 3 ]

Market research analyst: ₹5,31,804 [ 4 ]

Product consultant: ₹8,20,000 [ 5 ]

Career advancement

Product analyst roles enable you to build strong experience in product marketing and management. Some of the senior roles you could advance to after working as a product analyst include:

Product marketing manager: ₹20,00,000 [ 6 ]

Product manager: ₹19,74,021 [ 7 ]

Product director: ₹60,00,000 [ 8 ]

E-commerce manager: ₹8,82,664 [ 9 ]

Digital marketing manager: ₹8,47,579 [ 10 ]

Education requirements

There are no specific educational requirements for product analyst jobs. Still, employers usually look for candidates with at least a bachelor’s degree in business management, economics, finance, or another relevant field. Some companies prefer candidates with graduate degrees.

Certifications

Certifications like Certified Analytics Professional (CAP) and Certified Business Analysis Professional (CBAP) are highly prized by employers. Some employers require statistics, data analytics, or product management certifications, such as CII ProdXpert Certification.

Ready to get started on a product analyst career?

Becoming a product analyst can be an exciting and rewarding career. You’ll be pivotal to the success of product launches, marketing campaigns, and company growth. The experience you gain can also open up opportunities for career advancement in marketing, product, and management roles.

If you’re ready to take your next step into a product analyst career, you can start building your knowledge and skills by learning online. Learn job-ready competencies in data analytics by earning an IBM Data Analyst Professional Certificate , for example, or learn the basics in an Introduction to Data Analytics course on Coursera.

Article sources

Glassdoor, “ Product Analyst Salaries in India , https://www.glassdoor.co.in/Salaries/product-analyst-salary-SRCH_KO0,15.htm?clickSource=careerNav.” Accessed February 21, 2024. 

Glassdoor, “ Senior Product Analyst Salaries in India , https://www.glassdoor.co.in/Salaries/senior-product-analyst-salary-SRCH_KO0,22.htm?clickSource=searchBtn.” Accessed February 21, 2024.

Glassdoor, “ Lead Product Analyst Salaries in India , https://www.glassdoor.co.in/Salaries/lead-product-analyst-salary-SRCH_KO0,20.htm?clickSource=searchBtn.” Accessed February 21, 2024.

Glassdoor, “ Market Research Analyst Salaries in India , https://www.glassdoor.co.in/Salaries/market-research-analyst-salary-SRCH_KO0,23.htm?clickSource=searchBtn.” Accessed February 21, 2024.

Glassdoor, “ Product Consultant Salaries in India , https://www.glassdoor.co.in/Salaries/product-consultant-salary-SRCH_KO0,18.htm?clickSource=searchBtn.” Accessed February 21, 2024.

Glassdoor, “ Product Marketing Manager Salaries in India , https://www.glassdoor.co.in/Salaries/product-marketing-manager-salary-SRCH_KO0,25.htm?clickSource=searchBtn.” Accessed February 21, 2024.

Glassdoor, “ Product Manager Salaries in India , https://www.glassdoor.co.in/Salaries/product-manager-salary-SRCH_KO0,15.htm?clickSource=searchBtn.” Accessed February 21, 2024.

Glassdoor, “ Product Director Salaries in India , https://www.glassdoor.co.in/Salaries/product-director-salary-SRCH_KO0,16.htm?clickSource=searchBtn.” Accessed February 21, 2024.

Glassdoor, “ E-Commerce Manager Salaries in India , https://www.glassdoor.co.in/Salaries/e-commerce-manager-salary-SRCH_KO0,18.htm?clickSource=searchBtn.” Accessed February 21, 2024.

Glassdoor, “ Digital Marketing Manager Salaries in India , https://www.glassdoor.co.in/Salaries/digital-marketing-manager-salary-SRCH_KO0,25.htm?clickSource=searchBtn.” Accessed February 21, 2024.

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Product Analyst: Responsibilities, Skills, and Requirements

Product Analyst: Responsibilities, Skills, and Requirements 9 min read

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Are you aiming to become a product analyst? Or are you uncertain about the occupation but want to explore it as an option?

A product analyst needs to be able to utilize data strategically, but their job description doesn’t depend on data science degrees anymore. This change has been primarily driven by increased access to analytics tools like Userpilot that help businesses achieve product growth .

In this article, we’ll cover the responsibilities of a product analyst, the skills needed in the current job market, and the prerequisites. Let’s dive in!

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What is a product analyst?

A product analyst is a professional who uses data analysis and insights to assess and improve the performance of a product or service. Product analysts track market data, collect customer feedback, identify trends, and draw inferences about users’ needs and behaviors.

What do product analysts do?

The product analyst role has evolved to encompass the elements of market research, data analysis, and product management. Product analysts are now at the core of product development. Here are the primary responsibilities you will have to take as a product analyst.

• Do market research: Market research is important to study and understand industry trends, competition, and target customer needs. You can then use the insights to find new market opportunities and contribute to product development.
• Collect and analyze data : Your day-to-day role is to use data to understand user perception of a product thoroughly. It includes collecting customer feedback, studying user interactions with the product, and analyzing responses to provide timely data insights to product teams.
• Track product performance: You need to track key product performance indicators and product metrics over its lifecycle. This will allow you to identify trends and patterns that suggest how well the product performs in the market and assess product success.
• Evaluate product performance: Based on the analysis, you have to make regular product evaluations to assess its performance against predetermined benchmarks and goals. This will enable you to find areas of improvement and suggest optimization strategies to your product manager.
• Understand product requirements: You need to collaborate with relevant stakeholders to gather documents on product requirements and convert them into product specifications or user stories. You might also have to collaborate with cross-functional teams to help develop product marketing strategies and improve the user experience.
• Prepare reports and presentations: After thorough analysis, a product analyst has to create detailed reports about the findings and prepare presentations. You’ll have to use graphs, charts, and other visuals to present data in an easy-to-understand format. Sometimes, you may also need to report to senior management to justify your recommendations.

What are the skills needed for product analysts?

Here are the essential skills you’ll want to include in your resume for the product analyst position.

Technical skills

Let’s start with the technical proficiencies you need.

• Data analysis: You must collect and analyze qualitative and quantitative data from multiple sources like user feedback and product usage. It involves working with metrics, analytics tools, and techniques to draw conclusions based on the findings.
• Data visualization: You need to create easy-to-interpret visuals, such as charts and graphs, and present them in an analytics dashboard . The visuals need to summarize the findings in detail and engage stakeholders enough to consider your data-backed insights.
• Statistical analysis: This also involves collecting, analyzing, and interpreting data. However, if you know statistical analysis, you’ll be able to identify causal relationships from data and make projections. You may also need to perform exploratory data analysis, like studying new market opportunities, and make projections.
• Technical tools: Product data collection and analytics tools like Userpilot help automate repetitive tasks and boost productivity. You may have to use a combination of data analytics tools to access all the necessary features, such as Userpilot, MS Office, and Google Analytics.

Workplace skills

Strong workplace skills are important to work successfully with your product team and climb the career ladder.

• Critical thinking: Self-serve product analytics tools have made it more important to distinguish yourself by approaching a problem and thinking analytically. Quantitative understanding, attention to detail, and great problem-solving skills are now as valued as expertise.
• Project management: Your product manager might assign you projects and even have you lead some of them. You need to meet the project criteria and exhibit leadership, organization, and collaboration skills.
• Communication skills: Both verbal and written communication skills are essential for articulating your insights and giving technical explanations. These skills are also critical for pitching your solutions to management.

Business skills

Product analysts share certain skills with business analysts.

• Business analysis: Like a business analyst, you need to collect data, identify problems or requirements, and deliver solutions. You must also conduct market research, test rival products, analyze current and prospective target customer segments, and project future growth.
• Business acumen : A modern-day product analyst should know how to interpret data, understand business processes, and apply data in practical scenarios. The solutions you offer should generate business value.

What is the salary range for product analysts?

According to Glassdoor, the latest average base salary of product analysts in the United States is $77,090 annually.

The estimated additional pay, including commission, profit sharing, cash bonuses, and tips, makes the total pay $94,308 per year. The estimated median (i.e., most likely) range of the total salary is between $76,000 and $119,000.

You may not find the ‘product analyst’ role in some job listings, but notice a few variations. Here are the average salaries for these roles:

• Junior product analyst: Base salary = $70,166/year; Total salary = $79,036
• Senior product analyst: Base salary = $86,111/year; Total salary = $107,245
• Lead product analyst: Base salary = $90,314/year; Total salary = $113,292
• Market research analyst: Base salary = $63,516/year; Total salary = $71,506

What is the career path for product analysts?

A product analyst role will allow you to gain valuable skills, expertise, and experience in product marketing and management. This opens up multiple career paths for you to advance to.

People usually begin their careers as junior product analysts. You can later be promoted to senior product analyst, followed by lead product analyst.

From there, you can advance to the product manager, product marketing manager, or product insights manager role. The product insights manager earns more on average, possibly due to their greater input of insights that influence the product.

However, you also have the option to switch to a separate branch, such as data science, and pick up the career trajectory from there.

Here are the average salaries for jobs in a product analyst’s career trajectory and related paths:

• Product manager: Base salary = $111,225/year; Total salary = $146,958
• Product insights manager: Base salary = $133,841/year; Total salary = $186,254
• Product marketing manager: Base salary = $116,940/year; Total salary = $156,109
• Product director: Base salary = $151,832/year; Total salary = $236,892
• Data scientist: Base salary = $117,648/year; Total salary = $152,257

How to become a product analyst?

Let’s go over the prerequisites for becoming a product analyst.

Education requirements

There are no strict educational requirements for the product analyst role. Nonetheless, here are the common educational paths and qualifications for your undergraduate degree.

• Business management
• Computer science
• Statistics/mathematics

It’s recommended to at least learn the practicalities of statistics and business. This can help you land better-paying jobs after graduation and gain promotions faster.

Recommended certifications

You can acquire these recommended certifications alongside your bachelor’s degree as part of the skill development process. They reinforce your knowledge of the most popular data analysis platforms, showcase your enthusiasm, and improve your hiring chances.

You can prepare for these exams via their official sites or ed-tech platforms like Coursera or Udemy.

• Google Analytics Individual Qualification: You can earn Google Analytics certification by passing this exam, which Google Skillshop offers for free.

• Tableau Desktop Specialist: Tableau offers this exam to certify your foundational understanding of Tableau Desktop.

• Microsoft Certified Data Analyst Associate : As a certified Power BI data analyst, you can work closely with stakeholders to discover business requirements.

Common tools and software

Here are some common platforms that product analysts can use or learn as part of professional development.

Data analysis and data visualization tools: The following are currently the most popular tools for storing, visually manipulating data, and creating data visuals for reporting.

• Microsoft Excel
• Google Charts
• Zoho Analytics
• Microsoft Power BI

Data collection and analysis tools: These tools allow you to collect data from multiple sources, such as website/product usage, customer feedback, and interviews. They also include automated analytics and reporting functionalities to make interpretation and presentations easier.

• Google Analytics

Coding and development tools: Although these tools are related to software development, being able to use these tools allows product analysts to collaborate with UI/UX designers to enhance the product experience.

• Integrated Development Environments (IDEs), such as Visual Studio Code, PyCharm, and RStudio

If you’re considering becoming a product analyst, you can work on honing your skills and applying to renowned companies after graduation. As a student, you can look for internships in analytics or related roles to make your resume stronger and more credible.

Are you already a product analyst or product manager? Book a Userpilot demo to see excellent improvements in your product and achieve product growth.

About the author

A content marketer with a proven track record across diverse industries. I've worked with clients across industries like Vantage, AfroLovely, GameDayR, and Kodekloud, directing on-page SEO, enhancing content quality, and leadinag successful link-building projects

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Product Research Analyst Job Description [Updated for 2024]

In the fast-paced world of commerce, the role of a Product Research Analyst has taken center stage.

As market trends evolve and consumer behavior shifts, the demand for proficient individuals who can scrutinize, assess, and unlock the secrets of the market landscape intensifies.

But let’s delve deeper: What exactly is expected from a Product Research Analyst?

Whether you are:

• A job seeker trying to grasp the core of this role,
• A hiring manager outlining the perfect candidate,
• Or simply fascinated by the dynamics of product research analysis,

You’ve come to the right place.

Today, we present a customizable Product Research Analyst job description template, designed for easy posting on job boards or career sites.

Let’s dive right into it.

Product Research Analyst Duties and Responsibilities

Product Research Analysts perform a variety of tasks related to understanding market conditions and identifying potential opportunities for a company’s products or services.

They are crucial in helping companies understand what products are in demand, who would buy them, and at what price.

Product Research Analysts have the following duties and responsibilities:

• Conduct market research to identify potential product opportunities and competition
• Analyze customer feedback, surveys, and interaction data to inform product development
• Examine market trends and recommend changes to marketing and business development strategies based on analysis
• Collaborate with product development teams to understand and map out product specifications
• Assess market data by using statistical software and visual/data analytics tools
• Prepare detailed reports and presentations for management highlighting research findings
• Study competitors’ products, sales, and marketing strategies
• Create and maintain a vast library of up-to-date industry research and information
• Work with sales and marketing departments to create and implement product marketing strategies

Product Research Analyst Job Description Template

We are seeking a detail-oriented Product Research Analyst to guide our product development efforts.

Responsibilities include conducting market research, gathering and interpreting data, and making recommendations based on findings.

You should be knowledgeable about market trends and consumer preferences, be able to analyze large sets of data, and have strong communication skills to present information clearly and effectively.

Ultimately, the role of the Product Research Analyst is to provide meaningful insights that will shape our product development and marketing strategies.

Responsibilities

• Conducting thorough market research to identify potential product opportunities
• Analyzing and interpreting complex data sets related to product performance
• Preparing detailed reports and presentations for management and stakeholders
• Monitoring and forecasting market trends and consumer behavior
• Working closely with product development and marketing teams to align goals and strategies
• Identifying and evaluating competitors’ products and strategies
• Providing recommendations to enhance product performance and customer satisfaction

Qualifications

• Proven work experience as a Product Research Analyst or similar role
• Strong knowledge of market research techniques and data analysis methods
• Proficient in statistical analysis software (like SPSS or SAS) and database interfaces
• Excellent communication and presentation skills
• Ability to multitask and manage multiple projects simultaneously
• BSc degree in Marketing, Business Administration, Statistics or relevant field
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

Additional Information

• Job Title: Product Research Analyst
• Work Environment: Office setting with potential for remote work. May require occasional travel for market research and industry events.
• Reporting Structure: Reports to the Head of Product Development or Market Research Manager.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $50,000 minimum to $85,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

What Does a Product Research Analyst Do?

Product Research Analysts typically work for businesses across various industries, or as members of marketing or product development teams.

They can also offer their services as independent consultants.

They work closely with other members of their teams, such as product managers, marketing specialists, and business strategists, to gather and analyze data related to product performance in the market.

Their main role is to understand consumer needs and market trends.

They do this through various methods, including surveys, product testing, competitive analysis, and focus groups.

Product Research Analysts provide valuable insights on how to improve existing products, develop new products, and identify potential market opportunities.

They assess and interpret complex data, transforming it into actionable information that can guide decision-making processes.

They might also be responsible for keeping track of competitors’ products and performances, providing their teams with up-to-date knowledge of the market landscape.

In some cases, they may also present their findings to stakeholders or clients, explaining complex data in an understandable manner.

Their ultimate goal is to provide the information necessary to make informed decisions about product development, enhancement, pricing, and marketing strategies.

Product Research Analyst Qualifications and Skills

A proficient Product Research Analyst should have the skills and qualifications that correspond with your job description, such as:

• Strong analytical skills to interpret complex product data and information
• Proficiency in statistical analysis, quantitative analytics, forecasting/predictive analytics, and multivariate testing
• Excellent communication skills to present findings, insights, and recommendations to stakeholders
• Ability to work independently and as part of a team to meet project deadlines
• Detail-oriented and highly organized, able to manage multiple projects simultaneously
• Expertise in various research and testing methods to gather reliable and valid data
• Knowledge of product development processes and market trends
• Experience in using research tools and software like SPSS, SAS, or similar
• Problem-solving skills to identify product issues and develop appropriate solutions

Product Research Analyst Experience Requirements

Entry-level Product Research Analysts often have 1 to 2 years of experience, typically obtained through internships or part-time roles related to product research or market analysis.

They may also have experience in roles such as Junior Data Analyst, Market Research Intern, or other related positions that involve data collection and analysis.

Candidates with 2 to 3 years of experience are usually seasoned with a deeper understanding of market trends, competitor analysis, and product development strategies.

They may have gained this experience in roles like Market Research Analyst, Business Analyst, or other positions dealing with product or business strategy.

Candidates with more than 4 years of experience in product research analysis are often skilled in using various research methodologies and statistical tools to analyze market data and forecast future trends.

They might also have experience in project management and in guiding product development based on their research findings.

Those with over 5 years of experience may possess leadership experience, having managed a team of analysts or led major research projects.

They may be qualified for roles like Senior Product Research Analyst or Product Research Manager.

Product Research Analyst Education and Training Requirements

Product Research Analysts typically have a bachelor’s degree in business, marketing, or a related field.

Courses in business law, economics, marketing, finance, computer science, mathematics, and statistics are advantageous for this role.

They should have a solid understanding of statistical analysis, market research, product development process, and marketing strategies.

A master’s degree in business administration (MBA) or market research can be beneficial, particularly for those seeking leadership positions.

Many Product Research Analysts may also choose to pursue professional certification through organizations such as the Marketing Research Association, which offers the Professional Researcher Certification.

In addition to formal education, Product Research Analysts should have strong analytical, communication, and critical thinking skills.

They also need to have a good understanding of consumer behavior and market trends.

Continuous professional development through workshops, seminars, and courses is also important as this field is constantly evolving.

Product Research Analyst Salary Expectations

A Product Research Analyst earns an average salary of $60,000 (USD) per year.

However, this figure can greatly vary depending on the individual’s level of experience, the size of the company, and the region in which they are based.

Senior Product Research Analysts can expect to earn considerably more, with the top earners making over $90,000 (USD) per year.

Additionally, potential bonuses and profit sharing can also contribute to the overall compensation.

Product Research Analyst Job Description FAQs

What skills does a product research analyst need.

Product Research Analysts should have excellent analytical skills to interpret complex data and convert it into understandable, actionable insights.

They need strong research skills to gather all necessary information about products, markets, and competitors.

Good communication skills are also essential to present their findings clearly and concisely to stakeholders.

Additionally, they should be proficient in using specialized research tools and software.

Do Product Research Analysts need a degree?

Typically, a bachelor’s degree in business, marketing, statistics, or a related field is required for a Product Research Analyst position.

Some employers may prefer candidates with a master’s degree or MBA.

Relevant work experience, especially in market research or product development, is also highly valued.

What should you look for in a Product Research Analyst resume?

A Product Research Analyst’s resume should showcase their experience in data analysis and market research.

Look for proficiency in tools like SQL, Excel, or specialized market research software.

Evidence of strong problem-solving skills and experience presenting complex data in a clear, concise manner will also be beneficial.

Certifications in market research or related fields can also be a plus.

What qualities make a good Product Research Analyst?

A good Product Research Analyst is naturally curious, detail-oriented, and enjoys digging into data to uncover insights.

They should be comfortable working independently and be able to manage multiple projects simultaneously.

They should also have strong problem-solving skills, be able to think critically, and have the ability to transform raw data into actionable strategies.

What are the daily duties of a Product Research Analyst?

On a daily basis, a Product Research Analyst might conduct market research, analyze consumer behavior, study competitors’ products, and gather data through surveys or other methods.

They will interpret this data and present their findings in the form of reports or presentations to the relevant stakeholders.

They may also work closely with the product development team, providing insights that can guide the development process.

And there we have it.

Today, we’ve uncovered the true essence of being a Product Research Analyst.

It’s not only about analyzing data.

It’s about shaping the product landscape through informed decisions and insights.

With our ready-to-use Product Research Analyst job description template, along with real-world examples, you are now equipped to make your move.

But why limit yourself?

Dig deeper with our job description generator . It’s your golden ticket to creating precise job listings or refining your resume to excellence.

Every data point is a stepping stone towards a larger understanding.

Let’s shape that product landscape. Together.

The Editorial Team at InterviewGuy.com is composed of certified interview coaches, seasoned HR professionals, and industry insiders. With decades of collective expertise and access to an unparalleled database of interview questions, we are dedicated to empowering job seekers. Our content meets real-time industry demands, ensuring readers receive timely, accurate, and actionable advice. We value our readers' insights and encourage feedback, corrections, and questions to maintain the highest level of accuracy and relevance.

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Case Studies

Accelerating Growth for a Media Giant

In today's fast-paced entertainment industry, data-driven insights and strategic technology adoption have become essential for staying competitive. Our latest case study showcases how our expertise empowered a major player in the industry to tackle challenges like customer churn, pricing standardization, and cloud migration, leading to remarkable growth and customer loyalty. Discover how our tailored strategies can help your organization achieve similar results.

Churn Attack Plan (CAP)

• Burtch Works consultants developed data-driven dashboards leveraging Natural Language Processing (NLP) to provide real-time customer insights.
• Empowered over 350 managers to proactively tackle churn threats.
• Our dashboards ranked among the top 1% within the organization, setting a benchmark in data visualization and usability.

Product Pricing Alignment

• We implemented a standardized pricing strategy across all products, ensuring consistency and clarity.
• Simplified customer comparisons and enhanced decision-making processes.
• This approach streamlined the sales process, resulting in greater efficiency and alignment.

Customer Acquisition & Churn Reduction

• We identified strategic offers and crafted targeted retention initiatives.
• Optimized spending to reduce Subscriber Acquisition Costs (SAC).
• Through data-driven analysis, we expanded the customer base, delivering impactful growth.

Enhanced Customer Lifetime Value (LTV)

• We used data insights to identify and respond to key market trends.
• Collaborated with internal channels to test and refine subscriber compensation methods.
• Our strategic approach led to measurable improvements in customer LTV.

Cloud Migration

• We led the migration of legacy data infrastructure to a cloud-based environment, utilizing Snowflake and AWS.
• Ensured scalability, agility, and future-proofing for ongoing growth and adaptation.

Expanding to New Opportunities: Our successful track record positions us to address similar challenges across other industries. By leveraging our proven methods, we’re equipped to create powerful partnerships that unlock new levels of customer engagement and drive transformative business growth.

Our expertise in talent solutions means Burtch Works can find you the key resources to take your organization to the next level!

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Table of Contents

What is a product analyst, key responsibilities of a product analyst, skills required for a product analyst, salary outlook for product analysts, product analyst job description: responsibilities, skills, and salary.

The emergence of the job role of a Product Analyst can be attributed to the evolving nature of businesses and the increasing importance placed on understanding customer needs and market trends. As companies began to realize the significance of delivering products that align with customer expectations, the need for professionals who could bridge the gap between business strategy, market research, and product development became evident. 

This led to the creation of the Product Analyst role, which combines elements of market research, data analysis, and product management. The job role evolved to encompass responsibilities such as gathering and analyzing customer feedback, conducting market research, identifying product requirements, and collaborating with cross-functional teams to ensure the successful development and launch of products that meet customer needs. As businesses continue to prioritize customer-centric approaches, the role of a Product Analyst has become increasingly important in driving product innovation and success.

A Product Analyst is a professional who plays a crucial role in the development and enhancement of products or services. Their primary responsibility is to gather and analyze data related to customer needs, market trends, and business objectives. With a deep understanding of both the product and its target market, a Product Analyst collaborates with cross-functional teams to identify requirements, define product features, and prioritize development efforts. 

They conduct market research, competitive analysis, and user feedback analysis to inform product strategy and decision-making. Additionally, Product Analysts may assist in creating product roadmaps, defining user stories, and supporting product launches and iterations. Overall, a Product Analyst serves as a bridge between stakeholders, development teams, and customers, ensuring that the product aligns with user needs and business goals.

The key responsibilities of a Product Analyst includes;

1. Data Analysis

• Gather and analyze data from various sources to extract actionable insights.
• Use statistical techniques and data visualization to interpret trends and patterns.
• Identify opportunities for product improvements based on data analysis.

2. Product Performance Evaluation

• Monitor key product metrics and performance indicators.
• Conduct regular evaluations to assess product performance against goals and benchmarks.
• Identify areas of improvement and recommend strategies for optimization.

3. Market Research

• Conduct market research to understand industry trends, customer needs, and competitive landscape.
• Analyze market data and customer feedback to identify market opportunities.
• Provide insights on target market segments and potential customer segments.

4. User Experience Enhancement

• Collaborate with UX/UI designers to improve the user experience of the product.
• Conduct user research, interviews, and usability testing to gather feedback on product usability and satisfaction.
• Recommend enhancements and features to improve user experience.

5. Requirement Gathering

• Collaborate with stakeholders to gather and document product requirements.
• Conduct interviews, workshops, and surveys to understand user and business needs.
• Translate requirements into clear and actionable user stories or product specifications.

6. A/B Testing

• Plan, execute, and analyze A/B tests to evaluate the impact of changes or new features.
• Use data from A/B tests to make data-driven decisions and optimize the product.

7. Reporting and Presentation

• Prepare reports and presentations to communicate insights, findings, and recommendations.
• Present data analysis and product performance evaluations to stakeholders and cross-functional teams.
• Clearly articulate complex concepts in a concise and understandable manner.

1. Technical Skills

• Data Analysis: Proficiency in using analytical tools and techniques to gather, analyze, and interpret data.
• Market Research: Knowledge of market research methodologies, including data collection, analysis, and competitor analysis.
• Product Management Tools : Familiarity with product management tools such as Jira, Trello, or Asana to manage product backlogs, roadmaps, and user stories.
• User Experience (UX) Design: Understanding of UX principles and the ability to work closely with designers to enhance the user experience of the product.
• A/B Testing: Experience in planning, executing, and analyzing A/B tests to measure the impact of product changes.
• SQL and Database Knowledge: Proficiency in SQL to extract and analyze data from databases.

2. Workplace Skills

• Communication : Strong verbal and written communication skills to effectively collaborate with stakeholders, present findings, and document requirements.
• Problem-Solving: Ability to identify problems, gather relevant information, and propose practical solutions to improve product performance and user experience.
• Critical Thinking: Capacity to think analytically, assess situations, and make data-driven decisions.
• Stakeholder Management: Skill in managing relationships with stakeholders, understanding their needs, and balancing competing priorities.
• Teamwork and Collaboration: Ability to work collaboratively with cross-functional teams, including product managers, designers, developers, and marketers.
• Adaptability: Flexibility to navigate in a dynamic and fast-paced work environment, adjusting priorities as needed.
• Attention to Detail: Strong attention to detail to ensure accuracy and precision in data analysis, documentation, and requirement gathering.

Become a Data Science & Business Analytics Professional

• $924.3 billion Expected Global Data Analytics Market Size by 2032
• INR 5L-INR 17L The average annual salary for an entry-level Data Analyst
• $4.4 trillion Expected value added by Generative AI to the global economy annually.

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The course was well structured and curated. The live classes were extremely helpful. They made learning more productive and interactive. The program helped me change my domain from a data analyst to an Associate Data Engineer.

The salary outlook for Product Analysts can vary depending on factors such as location, industry, experience level, and company size. However, Product Analysts generally receive competitive compensation due to the specialized skills and responsibilities associated with their role.

Salary of a Product Analyst in the US

In the United States, according to Glassdoor, the average annual salary of a Product Analyst is over $73,000 annually. The salary can be influenced by factors such as the location (with metropolitan areas often offering higher salaries), the industry (technology and finance sectors tend to have higher compensation), and the candidate's level of experience and expertise. The average annual salary of a Product Analyst in other cities of US includes;

• California - over $92,000  
• San Francisco - over $81,000 
• New York - over $91,000
• Boston - over $78,000
• Seattle - over $78,000
• Chicago - over $88,000
• Texas - over $84,000

Salary of a Product Analyst in India

• Mumbai - over ₹8.5 Lakhs
• Bangalore - over ₹12 Lakhs
• Delhi - over ₹11 Lakhs
• Chennai - over ₹7 Lakhs
• Hyderabad - over ₹ 8.6 Lakhs

Average Annual Salary of a Product Analysts in Other Countries

• Australia - over $90,000  
• France - over €50,000 
• Italy - over €42,000 
• UK - over £48,000
• Germany - over €50,000

Data Science & Business Analytics Courses Duration and Fees

Data Science & Business Analytics programs typically range from a few weeks to several months, with fees varying based on program and institution.

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How to Use ChatGPT & Excel For Data Analytics in 2024

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Recommended Reads

The Rise of the Data-Driven Professional: 6 Non-Data Roles That Need Data Analytics Skills

The Value of Using Generative AI for Your Projects

Data Analytics with Python

Data Analytics Basics: A Beginner’s Guide

Emerging Challenges that Create New Opportunities for Data Analytics Professionals

What is Data Analytics and its Future Scope

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• Acknowledgement
• PMP, PMI, PMBOK, CAPM, PgMP, PfMP, ACP, PBA, RMP, SP, OPM3 and the PMI ATP seal are the registered marks of the Project Management Institute, Inc.

• What is a product analyst?

Last updated

25 June 2023

Reviewed by

Miroslav Damyanov

These skills are in great demand because having a predetermined roadmap when considering product or service integration with consumers saves businesses time and money.

Learn what product analytics is and how a product analyst converts data such as usage metrics, customer feedback, testing results, and sales figures into improved product and service performance in the marketplace. 

Find out how to become a product analyst, what responsibilities a product analyst requires, and why businesses can’t perform as well without them.

• What is product analytics?

If a company has a great product idea, it's not enough to rely on that alone. The product will likely fail in the market without testing it with the target audience to determine if it addresses a pressing problem.

Additionally, if the product is launched without gathering sufficient customer feedback, the expenses incurred in its design and development may go to waste. Therefore, leveraging customer data is crucial for creating useful and valuable products. 

This is where product analytics comes into play, enabling the design, development, modification, and enhancement of products and services. This is particularly true for websites and digital products, where measuring key performance indicators (KPIs) and conducting tests can improve customer experience and business outcomes.

A product analyst is a person who contributes to every stage of product development by using market research techniques. This is to collect customer feedback before a product launch or when analyzing sales trends and product usage data once the product is on the market. 

The information and insights a product analyst gathers can influence decisions on whether to allocate time and effort for a particular product or the considered added features.

A product analyst can also gather data that can influence decisions about products already on the market. Products that aren't selling well or need improvement can be unveiled by collecting information on customer’s reactions to the product.

Product analysts' skills are not just limited to tangible products and services. They can also contribute to website user experience designs. Product analysts can help designers create websites or applications for businesses that want to enhance and improve users' efficiency and experience when using their digital products to increase revenue.

Product analyst vs. business analyst

While product analyst jobs solely focus on how a product affects a business's bottom line, business analysts examine data to identify issues in all parts of a company, such as human resources, IT, or business operations. Once the business analyst identifies the problems in any of these departments, they will recommend solutions.

The difference between a product analyst and a product manager

Product analysts supply product managers with strategic data that the latter will follow in the product's design, development, and manufacturing processes. Product managers conduct each product phase's logistical and tactical planning to bring the product to market.

The product manager is in charge of technological innovation and will determine how the product will function and what features it will contain. The product analyst will research to determine if customers will respond positively to the product functions and features under consideration. They will then produce data to help the product manager adjust the design if necessary.

Is a product analyst the same as a data analyst?

Data analysts is a generic term for those that collect, organize, and analyze data. However, this position can fall under any company department, such as marketing, finance, HR, sales, and business operations. Product analysts collect, organize, and analyze data, but the information is focused solely on the products the company sells and how they relate to its bottom line. 

What do your users really want?

Just upload your customer research and ask your insights hub - like magic.

• What are some product analyst responsibilities?

A product analyst's job description is similar to a data scientist's. They have to collect information through various methods, examine the data, and present conclusions based on the knowledge gained from the analysis process. 

Some responsibilities of a product analyst include conducting research and tracking metrics while analyzing what was collected and drawing conclusions.  

Conduct user research

First, a product analyst has to gather the data to be analyzed. The product analyst must be adept at formulating and conducting methods to produce usable results. They can collect the information through carefully designed processes, including:

Product analytics

Quantitative usability testing (benchmarking)

Card sorting

The selection of the people asked to participate in these data collection processes is just as important as the processes themselves. The product analyst needs to comprehend the product and identify the market segment that best suits the product's target audience.

Tracking product metrics

Creating experiments, taking measurements, and assessing the results are ways to track product metrics. The product analyst will want to measure metrics such as:

Acquisition

Monetization

Lifetime value

These are stages within a customer's lifecycle with the goal of steady monetization or revenue. For instance, the product analyst might be interested in understanding the reasons behind customers' decision to purchase the product during the acquisition phase but not continuing to the activation stage, where they recognize its value, leading to potential loyalty.

By making changes related to pricing or availability, the product analyst can see if more customers transition from the acquisition to the activation stage more readily or if the changes have no effect.

Analyzing user data

Once the product analyst has gathered data through user research and product metrics , it's time to sit down and analyze the data. The product analyst must make sense of quantitative data , such as statistics, percentages, calculations, or measurements, and the non-numerical or qualitative data collected.

Identifying areas of improvement

When the data is analyzed, the product analyst will produce conclusions based on the analysis and inform the product manager if they should spend more money or time on a product or make changes to improve it. The efforts of the product analyst should result in a product becoming more competitive and profitable.

• Product analyst skills

Knowing how to conduct research that will produce accurate results and guide a product's course is a critical skill a product analyst can have. Becoming proficient at research methods that accurately depict the product's performance in the marketplace is a skill that will substantially increase the cost-effectiveness of product production.

Some other helpful skills include: 

Understanding consumer behavior

Being able to work with large datasets and understand statistical analysis

Know how the product development process works

Have problem-solving skills

Collaboration in a cross-functional team

You'll also need communication skills to present to the population in your user research what is expected of them as they go through the designed process. Communication skills can also be helpful when explaining results to other team members so that they understand the product strategy they should embark on.

• How to become a product analyst

A product analyst usually needs a bachelor's degree in market research , business, communications, economics, or social sciences. However, some employers may require or prefer that a job candidate also have a master's degree in business administration. 

Courses in statistics, research methods, marketing, economics, consumer behavior , communications, and social sciences are helpful in learning product analyst skills. Once you have completed your degree, you can start as an assistant product analyst, working with more experienced product analysts.

You can also start as a junior product development team member in product or project management departments. Starting on the product development team will help you understand the product development process that you'll need to know when analyzing data from consumers and tracking product metrics.

• Do product analysts require coding?

When dealing with mounds of raw data, you may need help mining it to identify patterns and extract useful information. The knowledge of programming languages can help when analyzing data and include:

You'll need these programming languages to digitally prepare the data, build models, and evaluate the data to understand results better. You'll need an understanding of programming languages to use algorithms and other techniques to convert a significant amount of collected data into a usable output. 

• How much does a product analyst make?
• Product analysts save significant costs for businesses

Product analysts play a crucial role in ensuring the cost-effectiveness of product development within a company. They can enhance their effectiveness by skillfully designing user research methods , acquiring programming language proficiency to analyze data more efficiently, and identifying opportunities for improvement. This enables the products to generate maximum revenue and achieve significant cost savings for the company.

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