What Does a Market Research Analyst Do
A market research analyst analyzes consumer tastes, competitor action, and market conditions to help businesses learn what people want, who is likely to buy their products, and at what price. They collect, analyze, and interpret information to help make valuable insights in the refining of marketing tactics, product introduction, and business growth. Core market research analyst duties include data collection and design, data analysis, competitor research, reporting findings, and providing strategic recommendations.
Every successful business decision starts with good data. But who is taking that data, collating it, and doing something with it, making sense of it, and taking those raw numbers and making strategies that actually work? That is something that a market research analyst does.
Whether you are a startup founder trying to validate a product idea, a VC evaluating market potential, or a small business owner exploring new audiences, understanding the market research analyst job description can help you decide when to hire one and what to expect from them. In this guide, we break down everything from what they do on a day-to-day basis to their skills, qualifications, and career path of this role.
Who Is a Market Research Analyst?
A market research analyst is someone who researches consumer preferences, business conditions, and the competitive landscape in order to determine how the potential product or service should sell. Think about them as the connection between raw data from the market and intelligent business decisions. They help companies in knowing what the customers want, how much they are willing to pay, and what their driving force for buying is.
According to the US Bureau of Labor Statistics, there were approximately 903,400 market research analyst jobs in the US as of 2023, spread across nearly every sector within the economy. From consulting companies, financial institutions, tech startups, and retail chains, this job role is extremely popular because every industry requires data-driven decision-making.
Key Market Research Analyst Roles and Responsibilities
The market research analyst roles and responsibilities are diverse and evolve depending on the industry and company size. But the following are the important functions that comprise the role:
Data Collection and Design
One of the primary market research analyst tasks is designing and implementing surveys, questionnaires, focus groups, and interviews to gather consumer feedback. This is where the research process is initiated. A series of insights that follow have no foundation without proper, structured data collection.
Analysis and Interpretation of Data
Once data is collected, the analyst goes through the data analysis using statistical computer software and modeling techniques to analyze trends, sales patterns, and consumer buying habits. They take the meaning of the numbers they have and relate it to real-life outcomes for the business. This stage takes scattered information and turns it into useful information that is used by leadership teams.
Competitor Research and Monitoring
A critical part of the market research analyst responsibilities involves monitoring competitor activities, pricing strategies, and marketing methods to identify market trends. For startups and SMBs, this type of competitive intelligence is invaluable. It shows you what the gaps are in the market and what opportunities may be missed by your competitors.
Reporting Results and Presentation of Data
Market research analysts take complex data and provide management and their stakeholders with readable reports, graphs, charts, infographics, and dashboards. It is their ability to deliver the findings of their research in a digestible format that makes their work valuable to decision-makers who may not necessarily have a technical background.
Strategic Recommendations
Beyond reporting, experienced analysts provide strategic recommendations on product development or pricing and marketing campaigns to generate more company sales and business growth. This advisory position is what makes the difference between a good analyst and a great analyst.
Table 1: Market Research Analyst Duties at a Glance
| Responsibility Area | Key Tasks | Business Impact |
| Data Collection & Design | Surveys, focus groups, interviews, questionnaires | Builds the foundation for all insights |
| Data Analysis | Statistical modeling, trend analysis, sales forecasting | Turns raw data into actionable intelligence |
| Competitor Research | Monitoring pricing, marketing methods, market share | Identifies market gaps and opportunities |
| Reporting Findings | Charts, dashboards, reports, presentations | Enables data-driven decision-making |
| Strategic Recommendations | Product, pricing, and campaign advice | Directly boosts revenue and market position |
Essential Market Research Analyst Skills
The right market research analyst skills blend analytical thinking with strong communication. Here is a difference between the best and worst performing analysts:
- Critical Thinking: This is at the center of the position. Analysts will need to solve problems without a working knowledge of how things will pan out, challenging assumptions all the time and looking at data from different perspectives. This skill is required to be able to properly interpret ambiguous market signals and make appropriate recommendations.
- Communication Skills: Analysts deliver complicated research findings to stakeholders, teams, and C-suite executives. The ability to reduce data into a compelling story transforms analysis into action.
- Technical Proficiency: This rounds out the skill set. Modern analysts use statistical software like SPSS, SAS, or Python, and many roles now require coding to perform advanced data analysis. Proficiency in tools such as Excel, Tableau, and Google Analytics is often expected.
Market Research Analyst Qualifications and Education Requirements
Understanding market research analyst education requirements helps businesses set realistic hiring criteria and helps aspiring analysts plan their career path.
Most jobs require at least a bachelor’s degree in marketing, business administration, statistics, economics, psychology, or a related social science field. Courses on statistics, research methods, and consumer behavior are particularly helpful. For leadership or highly technical research positions, a master’s degree or an MBA with a focus on marketing or analytics might be preferred by employers.
While not mandatory, professional certifications such as the Professional Researcher Certification (PRC) can strengthen a candidate’s market research analyst qualifications and demonstrate expertise to potential employers. Practical experience in the form of internships or entry-level research assistant jobs is also highly prized.
Table 2: Market Research Analyst Career Path Overview
| Career Stage | Typical Role | Experience | Avg. Salary (U.S.) |
| Entry Level | Research Assistant / Junior Analyst | 0–2 years | $55,000 – $65,000 |
| Mid Level | Market Research Analyst | 2–5 years | $65,000 – $80,000 |
| Senior Level | Senior Analyst / Research Manager | 5–10 years | $80,000 – $110,000 |
| Leadership | Director of Research / VP of Insights | 10+ years | $110,000 – $150,000+ |
The Market Research Analyst Career Path
The market research analyst career path offers strong upward mobility. The BLS projects 7% growth in jobs between 2024 and 2034, which is faster than average for all jobs. With some 87,200 new positions anticipated per year, there is security and opportunity working in the data-driven field.
A Day in the Life of a Market Research Analyst
Wondering what a typical day in the life of a market research analyst looks like? The work is both individual and team-based. Mornings are often spent checking current survey information or pulling reports from analytics platforms. Mid-day is often filled with cross-functional meetings with the marketing, product development, or sales teams to discuss findings and agree on strategy.
Afternoons can be spent deep in spreadsheets, adding to models to predict demand or creating visual presentations for leadership to review. It is not uncommon for analysts to spend time researching their competitors’ campaigns or experimenting with new methods of data collection. The job calls for both individuals who are well-versed in analysis and those who have the interpersonal skills to connect numbers with stories that impact the decision-making process.
Why Startups, SMBs, and Decision-Making People Need Market Research Analysts
For VCs looking at a startup’s potential, one of the first things they look for is that the founding team has an understanding of its market. A good market research analyst should be able to help you validate your assumptions, determine what the ideal customer profile for your company should be, and quantify the size of your total addressable market before you spend a dollar on product development.
Small and medium-sized businesses also benefit greatly. Whether there is a change in the geographic region where you are growing, you are adding a new product line, or you are changing the positioning of your brand, the research and strategy recommendations from an analyst can help reduce risk and increase ROI. Companies like Nexus Expert Research are adept at offering these market intelligence services to connect companies with the expert insight they need to make confident, data-backed decisions.
How to Hire the Right Market Research Analyst for Your Team
When writing a market research analyst job description, focus on the specific outcomes you expect rather than listing generic duties. Define the industries and markets that they will cover, the tools they should familiarize themselves with, and to whom they will present it – stakeholders. The best candidates are those who have a combination of both technical and business acumen along with good communication skills.
Look for individuals who demonstrate exceptional critical thinking ability during the interview process. Ask them to provide you with an overview of one of their research projects in the past, from the hypothesis through to the recommendation. Their ability to relate data analysis to business strategy will tell you more than their resume ever could.
Need expert market intelligence to fuel your next big decision? Nexus Expert Research connects you with industry-leading analysts and proprietary insights. Turn market uncertainty into a competitive advantage. Get in touch today – and make every business move count.