Product analysts help companies improve their products and services and develop new ones. They work for companies in management, scientific, and technical services; finance and insurance; wholesale trade; publishing companies; media and entertainment, and much more. Some examples of companies that employ product analysts include software companies and toy manufacturers.
Product analysts use data analysis software to research the costs and marketing trends of products, to determine the areas in which products can be improved. They work closely with different departments of companies, such as marketing, product development, and finance. They study competitors' products to see where there may be gaps in the marketplace. They also review data on customers' experiences with the products. They conduct interviews with the current users, as well as potential users, of the products; these interviews may be in focus groups, individual meetings, or online surveys.
Product analysts put their findings and other research data into detailed reports, presenting clearly written recommendations for improvements to current products and identifying new products that have the potential for development. The job requires strong statistics knowledge and technology skills. Analysts must have advanced Standard Query Language (SQL) skills and be well versed in Oracle's PeopleSoft and Microsoft Office Suite applications.
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