Database marketing analysts, also known as market research analysts, help organizations and companies determine which services and products to sell, to which customers and at what price. They make these determinations by studying consumer behavior, competitors’ activities and market conditions.
What is a Database Marketing Analyst?
Database marketing analysts are experts in qualitative and quantitative marketing analysis. They excel in finding key market statistics, interpreting their findings and helping marketing managers to understand the numbers behind their promotions and marketing strategies. When a company needs to understand how their marketing campaign is performing, they turn to database market analysts to model and graph the impact. Using cluster analysis and predictive modeling, analysts can use their findings to help marketing managers implement research-backed decisions into their strategies. By modeling statistics and analyzing trends in the marketplace, database marketing analysts gain a clear understanding of what is working and what isn’t working in their specific market. In order to accomplish this, they may work with a number of professionals, including marketing research analysts, advertising sales directors and market researchers.
Job Duties of Database Marketing Analysts
A database marketing analyst may be required to research customers’ wants and needs, preferences, buying habits and opinions. He or she may collect data on consumer demographics, market conditions and competitor’s tactics while studying the competition’s sales numbers, prices and methods of distribution and marketing. Marketing analysts analyze data using predictive analysis, statistics programs and other data-driven tools, and they monitor and forecast marketing sales and trends in order to highlight opportunities for new promotions and initiatives. These professionals convert their complex findings into data visualizations, graphs, tables and texts and collaborate with other departments in order to develop and show their reports to management and clients. They often collaborate with other marketing professionals such as statisticians, data scientists and pollsters.
Education and Training
Currently, most marketing analysts require a minimum of a bachelor’s degree to enter the field. Although business administration, economics, computer science, math and statistics are strong majors, some students may pursue specialist degrees in consumer psychology, marketing research and communications. In order to qualify for management positions or specialist jobs, applicants will need to see evidence of technical expertise as well as a master’s degree in marketing, analytics or business. In addition, several certifications are available, including the Certified Market Research Analyst (CMRA) and the Professional Researcher Certification (PRC).
Job Outlook
According to the U.S. Bureau of Labor Statistics, the field for market research analysts is expected to grow 19 percent from 2014 to 2024, much faster than the average for all occupations. In their quest for potential opportunities, marketing analysts must now handle a number of factors that could potentially affect demand. Whereas structured, traditional data was used in the past, analysts must now consider social media data, mobile buying habits, in-store traffic patterns and much more.
A marketing analyst can work for nearly anyone, including the government, advertising agencies, management consultants, market research firms and manufacturers. Database marketing analysts are the ears and eyes of their organizations, providing valuable psychological insights into consumer behavior. The discoveries and findings of a database marketing analyst can have a significant impact on how companies choose to develop, design, promote, market and distribute their services and products.
See also: 5 Great Online Resources to Learn Marketing Analytics
