- Collect data on consumers, competitors and market place and consolidate information into actionable items, reports and presentations.
- Understand business objectives and design surveys to discover prospective customers preferences.
- Compile and analyze statistical data using modern and traditional methods to collect them.
- Perform valid and reliable market research SWOT analysis.
- Interpret data, formulate reports and make recommendations.
- Use online market research and catalog findings to databases.
- Provide competitive analysis on various companies market offerings, identify market trends, pricing business models, sales and methods of operation.
- Evaluate program methodology and key data to ensure that data on the releases are accurate and the angle of the release is correct.
- Remain fully informed on market trends, other parties researches and implement best practices.
- Effectively collaborate with a broad set of business counterparts to drive adoption and utilization of new forecasting tools & best-practices across functions & geographies.
- Effectively collaborates with a broad set of business counterparts (including Marketing Research, Marketing, Pricing & Reimbursement, Portfolio & Program Management, and Business Development) to plan and execute accurate forecasts, interrogating and aligning assumptions.
- Design and deploy insightful, concise forecasting reviews that effectively drives team understanding and focused decision-making.
- Responsible for generating, presenting, defending and maintaining forecasts of products and markets with a high degree of precision, insight and transparency ; Selects appropriate forecasting approaches and forecast models to address specific business questions.
- Identifies, gathers, and rigorously analyzes information to generate a deeper understanding of customers, brands, diseases, markets, and competitive environments; Proactively identifies external and internal events/factors that influence sales forecasts, providing both clear guidance on potential impacts and recommendations on appropriate course of action.
- Forecasting scope includes patient & unit demand projections, event-based scenarios & sensitivity analyses, managed care contract analyses & gross-to-net projections, and operational forecast ranges for supply chain & industrial affairs; Building and managing demand and sales forecasts to support brand team strategy, financial planning and supply chain management.
Market Research Analyst Skills & Competencies
Some qualities and acquired skills will help you succeed at becoming a market research analyst:
- Computer skills: Experience with Microsoft PowerPoint and Word, as well as statistical software platforms such as SPSS, WinCross, SAS, and Market Sight can help with sorting data, as well as creating visual results and trends.
- Math and analytical skills: These are essential for analyzing research date.
- Confidence: You should be comfortable speaking in front of strangers and presenting results to internal team members and management.
- Multitasking capability: You should be able to manage multiple projects with quick turnaround.
- Interpersonal skills: You’ll need an ability to work well with all levels of management, internal staff, clients, and vendors.
What you’ll do
You’ll work in teams of typically 3 – 5 consultants, playing an active role in all aspects of client engagement. This includes gathering and analyzing information, formulating and testing hypotheses, and developing and communicating recommendations. You’ll also have the opportunity to present results to client management and implement recommendations in collaboration with client team members.
Junior Associates receive exceptional training as well as frequent coaching and mentoring from colleagues on their teams. This support includes a Partner from your local office or practice assigned to you to help guide your career as well as up to five weeks of formal training in your few years. Additionally, you’ll receive guidance and support from your local office or practice in the selection of client projects, helping you to develop your skills and build your network.
While all consultants develop specialized knowledge and a focused program as they progress, most are initially very broad in their focus, meaning they do not need specific industry or functional expertise to be successful. For consultants and analysts who join ParsBEM Consultants Private Limited as experienced professionals, this can mean building on previous knowledge or developing unique experience in an area that is completely new.