Definition of Research Analyst
A research analyst is a trained professional who analyzes information to solve problems, improve decision-making methods and the operations of an organization or workers. Research analysts use engineering and scientific methods like mathematical models and statistics to find answers to questions and recommend a course of action.
Research analysts work in many industries and fields of study, although the term is often used for business research analysts, who provide expert analysis and advice in investment choices for high net-worth people and organizations.
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Types
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Research analysts can find employment in the military, and the science, health, transportation, engineering, software development and market analysis industries. These analysts are experts in a field and provide insight into solving problems and improving operations.
Requirements
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Research analysts need good quantitative and computer skills. A background in advanced mathematics is important for people working in science and statistical jobs. A doctorate or master's degree is needed, though some entry-level positions require only a bachelor's degree.
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Methods
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Research analysts use analytical techniques to break down problems into smaller, basic units, using methods from mathematics, science and engineering. Analysts ask questions, carry out independent research and examine the results in search of a pattern or solution to the problem. Analytical techniques used by research analysts include, among others, data mining, computer modeling and simulations.
Forecasting
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Research analysts are often required to predict outcomes of various scenarios. These scenarios could include anything from the way bacteria reacts to an antibiotic to the behavior of the stock market if the interest rate rises. Well-designed forecasts help managers make better decisions and improve performance.
Strategy
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Research analysts must understand the theory and principles governing a specific subject or industry. Creative thinking and seeing the big picture of a task or problem are helpful tools.
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References
Resources
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