A research analyst has the ability to research, analyse, interpret and represent data correlated to markets, operations, finance/accounting, economics, clients and other various types of information connected to the field in which they work. A research analyst is generally quantitative, analytical, logical, and excellent at managing numbers and data.

What are the types of companies that require analysts?

There is a wide range of companies and industries that hire analysts to conduct research.

Some of the general types of companies include:

  • Pharmaceutical companies
  • Banks
  • Governments
  • Marketing agencies
  • Health service providers
  • Manufacturing companies
  • Insurance companies

What skills does a person to be a research analyst?

There are various vital skills that a person must have to be successful in the area of research analysis. While every person is different in their way and all kinds of people can succeed as analysts, there are little skills and traits that almost all RAs share.

The skills of research analysts and the most common personality traits are:

  • High attention to detail
  • Organized
  • Inquisitive
  • Logical
  • Trusted
  • Good with the numbers
  • Ability to process large amounts of information on specific takeaway

The job responsibility of a research analyst

A financial analyst is mainly concerned with making economic forecasts, calculating operational metrics, examine financial data, producing financial models and arrangement to assist executive management in making decisions and exposure on the company’s financial performance.

Job responsibilities may consist of any or all of the following:

  • Analyse past outcome and execute the analysis of variance
  • Recognize trends and make recommendations for improvements
  • Provide analysis of trends and forecasts and suggest actions for optimization
  • Identify and drive process enhancement, counting the formation of standard and ad hoc reports
  • Utilize the Excel functions to arrange and analyse data
  • Generate charts, graphs and presentations for leadership teams
  • Develop recommendations to enhance business operations in the future

Types of research analysts

Research analysts available in almost all industries, but are more frequently found in some sectors, like the financial services industry, than in others. Within an enterprise, a research analyst can be available in various departments, with several different job titles.

The most common research analyst job titles are:

  • Operations Research Analyst
  • Equity Research Analyst
  • Market Research Analyst (Marketing)
  • Economic research analyst
  • Financial analyst

Business Analyst Market Research Evaluation Test

The market research business analyst is the individual who decides what goods and services are in demand and what will be the suitable rate or price for that. These analysts are also responsible to present the survey results to their clients and also maintain track of the industry development of the clients and other latest marketing trends. 

The market research business analyst’s test is produced to calculate candidates in the areas of business, marketing, finances, statistics, analytical thinking, requirements analysis, etc. This test contains important questions about primary and secondary data, market research, and analysis of SPSS necessities, statistics and analytical thinking. For this reason, the emphasis is placed on practical skills acquired via real work experience, rather than theoretical information. With the help of influential reports, people will have an in-depth analysis of test results to assist people in making improved decisions and forecasting the success of candidates and employees.

Business Analyst Market Research Test Contains:

  • Business analyst: 10 questions, 10 minutes
  • Market study: 10, 10 minutes
  • Analytical thinking: 5 questions, 5 minutes
  • Writing skills: 5 questions, 5 minutes

How to prepare for the test

  • It is essential to recognize the basic concepts of every topic and practice the problems of various complexities. 
  • The key to doing well in these tests is to practice. Choose one topic at a time and cover all possible angles, and then switch to the other topic. 
  • Giving aptitude tests online or via practice books that qualify participant in logical reasoning and numerical ability is an excellent way to enhance the mathematical skills of a particular participant. 
  • Taking simulated CAT and GMAT exams could be a great way to prepare for these tests that may have multiple-choice questions, fill in the blanks, explanatory type, true or false questions.
  • The majority of the candidates who applied for analysis job are prepared their self for quantitative aptitude.
  • It covers the English subject for practice. With these practice type questions, it is simple to interpret the analytical skills, since these questions have a level of difficulty. 
  • Apart from these, participants should also practice on various case studies.
  • The participant can also take reference from other practice books that adapt to MBA entrance exams, which are often available online. 
  • Many online blogs have a precise and detailed practice test of the company uploaded. 
  • The primary key to be successful in the analysis is that the participant has to solve and practice on various questions as much as he can. 
  • Not only does it familiarize the participant with the acceleration in terms of the time necessary to answer a problem, but it also improves the participant’s logical approach to the solution, which is the main thing that recruiters are taking into consideration.
  • Majority of companies utilize online portals to perform these online aptitude tests while hiring for job posts such as research analyst, business analyst, etc. These companies monitor the candidates live with the help of webcams, sharing screens and other restrictions to control the candidate.

Almost all companies require this aptitude test because every organization needs the research analysts. The research analyst is the main person of any company because the research analyst person recognizes the latest trends in or outside the company and investigates various other areas like reasoning, logical. Every organization needs research analysts to research various most recent factors.

Posted by Guest Author

This article was submitted as a guest post and it doesn't represent the views and perspectives of the Technivoz Editorial Team.