The bloodline of every type of industry is data. This could be about the market, prospective customers, emerging trends, business opportunities, finance, sales, income and expenditure, etc. So gathering, interpreting, and analyzing it is necessary for businesses to stay in the competition and carve a path for growth. But since it is a time-consuming job that requires strong analytical skills, including the ability to delve into and extract crucial information from the heaps of industry data, organizations hire research analysts. These research analysts study past and present data, determine what worked and what didn't, and prepare analytical report to enable businesses plan and implement strategic decisions for the future. Their skills are required by various sectors, and hence this research analyst occupation is found in every start-up, small, and big company. Here are some common types of research analysts.
Market Research Analyst
With many brands developing similar products and a cut-throat competition, the businesses cannot rely on their gut feelings. So to find and attract customers, and ensure a good customer retention rate, organizations employ market research analysts. These analysts provide in-depth insight on market environment and consumer trends. They collect and interpret market data to refine marketing strategies. The market research analysts help in various duties like assessing ongoing trends, segmenting customers as per their preferences, collecting useful information, performing SWOT analysis, and identifying possible problems. These professionals are pivotal in refining the bottom line of a business as they assist in tapping business opportunities, minimizing risks, and formulating strategies according to changing customer requirements.
Marketing research analysts work with the marketing team, and play the role of information gatherers. They use an assortment of techniques such as surveys, opinion polls, questionnaires, customer feedback, and sales figures to chalk out performance plans.
Operations Research Analyst
These analysts participate in all the aspects of an organization. They work with managers to allocate resources, manage supply chain, and contribute in setting the prices of commodity and services. Operation research analysts can be referred to as problem-solvers as they use software and advanced techniques like big data, statistical analysis, and mathematical modeling to come up with cost-effective solutions. Their job also deals with problems related to labor and materials. Their tasks involve analyzing data, interpreting issues, and finding effective solutions. These professionals are required in various domains, and are employed in fields like businesses, health care, logistics, etc.
Economic Research Analyst
The economic research analysts are accountable for researching significant trends in business and commerce. With their research, they communicate the effects these trends can have on a particular company or industry. In addition to this, they recognize the potential outcome of financial decisions made by the company. They are employed in private companies, financial institutions or federal government agencies. Their various tasks include collecting information through survey, analyzing the gathered data, preparing concise reports, and forecasting market trends. Furthermore, they are experts at giving advice and recommending solutions to solve the economic problems.
Financial Research Analyst
Research analysts working in the finance domain assess the financial statements to draw conclusions on company finance. In addition to this, they also examine portfolios, funds and even estimate the investment risks. These analysts are employed in a variety of settings, including corporate, investment banks, financial institutions, security firms, other businesses, etc. that offer financial products. With the help of relevant software, these professionals give accurate forecasts, and even help in merging and acquisition of a firm.
Equity Research Analyst
In addition to the financial research analyst, there is one more professional who studies the financial data and market trends for a company. He or she is known as equity research analyst, and can be involved with both the buy-side and the sell-side. Their job includes various duties like reviewing the annual balance sheets of a company, impending debt amount, current trends in the market, and existing legal liabilities. These resource analysts also oversee the performance of company's stock, bonds, and other financial instruments to compile an accurate equity research report. To work in this profile, an individual must have a bachelor's degree in relevant background such as finance, accounting, economics and business administration.
Technology Research Analyst
These analyst carry out research on latest technology and prepare reports on the insights obtained. They work with the R&D department of the organization, and communicate how a new technology can expedite projects before the deadline, and ensure high client satisfaction rate. These research analysts also contribute actively to company's newsletters, blogs, and participate in conferences.
When you are working in the role of a research analyst, irrespective of the domain, you constantly need to keep yourself updated with the latest information. In addition to this, you must be able to demonstrate plans to overcome a problem, and derive innovative solutions for its resolution. An individual aspiring to work in this profile must be a pro in mathematics, have patience to carry out extensive research, must be a team player with exceptional communication skills.
Market Research Analyst
With many brands developing similar products and a cut-throat competition, the businesses cannot rely on their gut feelings. So to find and attract customers, and ensure a good customer retention rate, organizations employ market research analysts. These analysts provide in-depth insight on market environment and consumer trends. They collect and interpret market data to refine marketing strategies. The market research analysts help in various duties like assessing ongoing trends, segmenting customers as per their preferences, collecting useful information, performing SWOT analysis, and identifying possible problems. These professionals are pivotal in refining the bottom line of a business as they assist in tapping business opportunities, minimizing risks, and formulating strategies according to changing customer requirements.
Marketing research analysts work with the marketing team, and play the role of information gatherers. They use an assortment of techniques such as surveys, opinion polls, questionnaires, customer feedback, and sales figures to chalk out performance plans.
Operations Research Analyst
These analysts participate in all the aspects of an organization. They work with managers to allocate resources, manage supply chain, and contribute in setting the prices of commodity and services. Operation research analysts can be referred to as problem-solvers as they use software and advanced techniques like big data, statistical analysis, and mathematical modeling to come up with cost-effective solutions. Their job also deals with problems related to labor and materials. Their tasks involve analyzing data, interpreting issues, and finding effective solutions. These professionals are required in various domains, and are employed in fields like businesses, health care, logistics, etc.
Economic Research Analyst
The economic research analysts are accountable for researching significant trends in business and commerce. With their research, they communicate the effects these trends can have on a particular company or industry. In addition to this, they recognize the potential outcome of financial decisions made by the company. They are employed in private companies, financial institutions or federal government agencies. Their various tasks include collecting information through survey, analyzing the gathered data, preparing concise reports, and forecasting market trends. Furthermore, they are experts at giving advice and recommending solutions to solve the economic problems.
Financial Research Analyst
Research analysts working in the finance domain assess the financial statements to draw conclusions on company finance. In addition to this, they also examine portfolios, funds and even estimate the investment risks. These analysts are employed in a variety of settings, including corporate, investment banks, financial institutions, security firms, other businesses, etc. that offer financial products. With the help of relevant software, these professionals give accurate forecasts, and even help in merging and acquisition of a firm.
Equity Research Analyst
In addition to the financial research analyst, there is one more professional who studies the financial data and market trends for a company. He or she is known as equity research analyst, and can be involved with both the buy-side and the sell-side. Their job includes various duties like reviewing the annual balance sheets of a company, impending debt amount, current trends in the market, and existing legal liabilities. These resource analysts also oversee the performance of company's stock, bonds, and other financial instruments to compile an accurate equity research report. To work in this profile, an individual must have a bachelor's degree in relevant background such as finance, accounting, economics and business administration.
Technology Research Analyst
These analyst carry out research on latest technology and prepare reports on the insights obtained. They work with the R&D department of the organization, and communicate how a new technology can expedite projects before the deadline, and ensure high client satisfaction rate. These research analysts also contribute actively to company's newsletters, blogs, and participate in conferences.
When you are working in the role of a research analyst, irrespective of the domain, you constantly need to keep yourself updated with the latest information. In addition to this, you must be able to demonstrate plans to overcome a problem, and derive innovative solutions for its resolution. An individual aspiring to work in this profile must be a pro in mathematics, have patience to carry out extensive research, must be a team player with exceptional communication skills.
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