How to Be Consumer Insights Analyst - Job Description, Skills, and Interview Questions

Apr 19, 2020 / 6 Minutes Read / By Albert

How to Become

Professional Organizations

FAQ

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The increased reliance on technology has caused a surge in the demand for consumer insights analysts. These professionals are tasked with analyzing a wide range of data from a variety of sources, including customer surveys, market research, and social media. From this analysis, they can identify trends, emerging technologies, and customer needs that companies can use to inform their marketing and product strategies.

By having an insight into the behavior of their customers, companies can create better products and services that are tailored to meet the needs of their target audiences. This in turn can result in higher profits and stronger customer loyalty, which leads to a greater competitive advantage in the market.

Steps How to Become

Obtain a Bachelors Degree. The first step to becoming a Consumer Insights Analyst is to obtain a bachelors degree in a related field such as marketing, psychology, sociology, business or statistics.
Gain Work Experience. It can be beneficial to gain relevant work experience in an area related to consumer insights. This could include marketing research, sales, customer service or market analysis.
Earn Certification. Many employers prefer to hire Consumer Insights Analysts who have earned certification in the field. The American Marketing Association offers certification in several areas related to consumer insights.
Develop Technical Skills. In order to be successful in this role, it is important to have strong technical skills such as data analysis, statistical analysis and problem-solving. Consider taking courses or workshops to develop these skills.
Become Familiar with Tools and Software. As a Consumer Insights Analyst, you will be expected to use various software programs and tools such as Excel, Access and SPSS. It is important to become familiar with these programs and understand how to use them effectively.
Find a Job. Once you have the necessary qualifications, you can begin your search for a job as a Consumer Insights Analyst. Look for openings with marketing firms, research companies or retail businesses. You may also want to consider applying for entry-level positions with larger companies as these are often a great way to gain experience and move up the ladder in the long run.

The consumer insights analyst is an important role in any organization, as they provide valuable insight into customer behavior and preferences. By studying customer trends and analyzing data, the analyst can uncover valuable information which can then be used to create strategies to better meet customers needs and improve the overall customer experience. This can result in increased customer loyalty, higher sales, and a better reputation for the business.

Furthermore, this data can also be used to identify new opportunities and understand how competitors are positioning themselves in the marketplace. The ideal consumer insights analyst should have strong analytical skills, a passion for understanding customer behavior, and the ability to translate complex data into actionable insights. Competency in this role also requires a solid understanding of various marketing tools and techniques, as well as the ability to effectively communicate insights with stakeholders.

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Job Description

Gather and analyze customer data and feedback from various sources such as surveys, focus groups, online forums and social media.
Analyze customer needs, preferences and behavior to identify patterns and trends.
Develop consumer insights and turn them into actionable plans.
Monitor competitor activities and analyze market trends and data.
Create presentations and reports to present findings to internal teams and stakeholders.
Utilize various analytics tools such as predictive analytics, segmentation, and A/B testing.
Collaborate with marketing, product and sales teams to create data-driven strategies.
Develop and manage customer research projects.
Create processes and systems to improve data collection and analysis.
Stay current on industry trends and best practices in consumer research.

Skills and Competencies to Have

Advanced analytical and problem-solving skills
Understanding of consumer behavior and trends
Knowledge of statistical analysis methods
Ability to develop insights from data sources
Excellent communication and interpersonal skills
Ability to interpret and present data in a meaningful way
Knowledge of data visualization techniques
Proficiency in Microsoft Office Suite, including Excel and Power BI
Proficiency in data analysis tools such as SPSS, SAS, or R
Experience with survey design and analysis

Having an aptitude for consumer insights analysis is essential for success in this field. It involves the ability to interpret data and draw meaningful insights from it to inform decisions. This requires a keen eye for detail, excellent analytical skills, and the ability to think critically and come up with innovative solutions.

It also involves understanding the customer journey and being able to identify trends and patterns in their behavior. Furthermore, the ability to effectively communicate findings and present them to stakeholders is key to the successful implementation of strategies. having a good understanding of the industry and its trends, as well as being able to stay up-to-date on new developments, is essential for any consumer insights analyst.

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Frequent Interview Questions

What experience do you have in gathering, analyzing and reporting consumer insights?
How would you go about designing research to gain consumer insights?
Describe a project youve worked on involving consumer insights.
How do you ensure that the data collected from consumer research is reliable and valid?
How do you stay up to date on the latest research techniques and best practices in consumer insights?
Describe a situation where you had to quickly analyze consumer insights and make decisions based on them.
How do you identify key trends from consumer insights data?
How do you handle conflicting consumer insights data?
What strategies have you used to increase customer engagement with consumer insights?
What methods have you used to present consumer insights to stakeholders?

Common Tools in Industry

Google Analytics. A web analytics service that tracks and reports website traffic, providing insights into user behavior and website performance. (eg: Track website visits, downloads, and user engagement)
SurveyMonkey. An online survey platform that allows users to create, design, and analyze surveys. (eg: Create and distribute surveys to measure customer satisfaction)
Qualtrics. An online survey platform that enables users to create, distribute, and analyze surveys. (eg: Collect customer feedback to improve customer experience)
Brandwatch. A social media monitoring and analytics tool that provides insights into customer sentiment and brand performance. (eg: Analyze customer conversations across social media channels)
Social Bakers. A platform for social media analytics and reporting that provides insights into audience demographics and engagement. (eg: Measure the success of social media campaigns)
Tableau. A data visualization platform that enables users to explore and analyze data in an interactive way. (eg: Analyze customer behavior using interactive charts and graphs)

Professional Organizations to Know

American Marketing Association (AMA)
Market Research Association (MRA)
Insights Association
International Institute for Analytics
Society for Consumer Psychology
International Society for Market Research
National Council for Market and Social Research
Association for Consumer Research
American Association for Public Opinion Research
International Association for Research in Marketing

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Common Important Terms

Market Research. The process of collecting, analyzing, and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present, and potential customers for the product or service; research into the characteristics, spending habits, location, and needs of your businesss target market, the industry as a whole, and the particular competitors you face.
Qualitative Research. A type of market research that involves gathering information from either individuals or small groups, via interviews or focus groups. This research is used to identify patterns and themes in order to gain insights into how people think and feel about a product, service, or issue.
Quantitative Research. A type of market research that involves collecting and analyzing numerical data in order to measure the opinions and behaviors of a target audience. This research is used to better understand customer preferences, attitudes, and trends.
Data Analysis. The process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making.
Consumer Insights. Meaningful information about consumers that can be used to inform marketing strategies and improve customer experience. This may include demographic data such as age, gender, income level, or psychographic data such as motivations, lifestyle choices, and values.

Frequently Asked Questions

Q1: What is a Consumer Insights Analyst? A1: A Consumer Insights Analyst is a market research professional who studies consumer behavior and opinions to help organizations develop better products and services. Q2: What skills are needed to be a successful Consumer Insights Analyst? A2: To be a successful Consumer Insights Analyst, one must have a strong understanding of research methods, analytical skills, problem solving abilities, the ability to interpret data, communication and presentation skills, and the ability to collaborate with other departments. Q3: What type of data do Consumer Insights Analysts use? A3: Consumer Insights Analysts typically use a variety of data sources, such as surveys, focus groups, interviews, and observational studies. They also use quantitative data from market research reports and analytics. Q4: What is the job outlook for Consumer Insights Analysts? A4: The job outlook for Consumer Insights Analysts is positive, with an expected job growth rate of 11% from 2018-2028. Q5: How much does a Consumer Insights Analyst typically make? A5: According to PayScale, the average salary of a Consumer Insights Analyst is $60,971 per year.

Web Resources

Consumer Insights & Analytics | Labovitz School of Business and lsbe.d.umn.edu
Consumer Insights and Analytics B.B.A. | Academics academics.d.umn.edu
Consumer Insight and Analytics - Medill - Northwestern University www.medill.northwestern.edu