What Does a Product Analyst Do?
Product analysts perform market research and analyze market data, identifying consumer behaviors and trends. They make recommendations and provide launch strategies based on their analyses to increase firm profitability. Product analysts monitor product performance and recommend alterations to meet sales forecasts.
Product Analyst Job Overview
In the product analyst role, you will evaluate the firm’s products, comparing them against competitor offerings and matching them with market trends and demand. A key element of this role is the effective utilization of database analysis programs to provide timely results and recommendations. Success in this role is demonstrated by meeting or exceeding sales figures expectations from product launch.
Product Analyst Job Responsibilities and Duties
- Performs market research and collects customer feedback
- Evaluates products and forecasts performance
- Provides recommendations on product launch strategies
- Generates reports and presentations on results findings
- Monitors product performance
- Analyzes market data, trends, and behaviors
Product Analyst Job Requirements
- Bachelor’s degree in Economics or related field
- Minimum of 5 years experience in product analysis
- Proficient in MS Office and database programs
- Strong written and verbal communication skills
- Excellent multitasking and problem-solving abilities
- Exceptional time-management skills
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