Marketing isn't always about creativity. Sometimes, it's just about complex, rough, and often-vague packets of statistics and numbers regarding the marketplace.
Making sense of these numbers are marketing data analysts, statisticians who break down collected market data to help drive marketing efforts. Read on to discover how these professionals use mathematical and analytical communication skills to help inform marketing efforts at a company.
Marketing data analysts are experts in quantitative and qualitative market analysis. They excel in identifying key market statistics, interpreting findings, and helping marketing managers understand the numbers behind their marketing strategies.
According to Indeed.com, the following locations are most in need of marketing data analysts:
When a company needs to understand the impact of a marketing campaign, they turn to data analysts to model and graph their effects. Using predictive modeling and cluster analysis, these key team members allow marketing managers to implement research-backed decisions in the marketing process.
By analyzing trends in the marketplace and modeling statistics, data analysts gain a clear understanding of what does and doesn't work in the market. In order to accomplish these tasks, they work with a variety of professionals, including:
Marketing data analysts need strong mathematical and analytical problem-solving skills to make sense of market numbers. Usually, they have several years of experience in market research, though some enter the field straight out of college.
Most marketing data analysts earn bachelor's degrees in marketing or statistics before getting the job. Some companies prefer their data analysts to gain master's degrees, and these candidates may receive preference over others.
Most market data analysts earn between $45,000 and $65,000 per year, but this may vary depending on the size of a company. Top earners stand to make between $75,000 and $85,000.
As companies continue to back their advertising and marketing efforts with strong market data, demand for data analysts will grow.
If you're interested in learning more about a career in data analysis, contact schools offering degrees in marketing.