What does a Principal Analyst do?
Analysts research, analyze and report on different trends. Using either publicly available or collected data, analysts attempt to draw insights that can be used to create actionable strategies in different industries. Analysts may be called to be flexible and work across various industries, with different types of datasets, and may be required to spend a significant amount of time creating and delivering reports.
Analysts require a Bachelor's degree in mathematics, business, marketing, computer science, or related fields. A Master's degree in business administration (MBA), marketing, mathematics, computer science or related fields may be preferred. Analysts benefit from having distinct communication and research skills. This role also requires individuals who are detail-oriented and self-motivated.
- Perform industry research using publically available data sources
- Requisition and purchase private data sources to provide research and analysis
- Use data mining tools to collect data for further research and analysis
- Work collaboratively with programmers to create tools to collect and analyze data
- Manipulate data using data analysis tools to discover insights
- Generate and deliver reports from data analysis
- Offer suggestions and direction from analysis to help guide organization decision-makers
- Collaborate with different teams and departments to provide expertise and insight
- Master's degree in business administration (MBA), marketing, computer science, mathematics or other related field may be preferred
- 1-5 years of experience in marketing or related fields
- Working knowledge of data analysis and visualization tools, such as Microsoft PowerBI and Tableau
- Functional experience with database and spreadsheet software, such as MySQL and Excel
- Experience performing various forms of online research
- Currently knowledge of or ability to quickly learn data mining tools and techniques
- Significant attention to detail and an ability to quickly spot and fix problems
- Experience working in a team setting and desire to take leadership roles within a team
- Detail-oriented and a strict attention and appreciation for deadlines
How much does a Principal Analyst make near United States?
Principal Analyst Career Path
Learn how to become a Principal Analyst, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Principal Analyst Insights
“I was good at my job and could do it in my sleep so work life balance was great”
“It is fun to work with hardworking and talented indiiduals who value your contributions and feedback.”
“I'll preface this with most Avant employees are good people and fun to work with.”
“Not much room to grow and the pay is not the best in comparison to the market rate.”
“Spoon feeding is very common which is good for new joiner but not for existing staffs”
“They pay you on the bottom part if you don't negotiate based on your localisation and it was really low”
“You get to work with smart people and it's great to connect with global folks”
“Everyone is kind and helpful I was an intern there and I felt in great hands”
Principal Analyst Interviews
Frequently asked questions about the role and responsibilities of analysts
Analysts are the planners behind the action. During the typical day of an analyst, they gather data from many sources and search for patterns or trends that others may not see. Then, analysts use the information and trends to create strategies for their clients. As strategies are implemented, analysts study the effects of the strategies and determine how they can be improved or modified.
The average salary for analysts is approximately $161,321 per year. In some cases, the highest-paid analysts can earn salaries in excess of $203,258 annually. Analysts' earning potential increases in accordance with their experience and the breadth of their skill sets.
Working as an analyst involves communication. A difficult aspect of being an analyst is conveying the results of detailed analyses to clients or superiors who don't understand the minutiae of the process. Research specifications can change mid-process, which can add to your workload. Still, flexible individuals with strong interpersonal skills can overcome these difficulties.