How to Become a Retail Sales Analyst

Retail sales figures provide some of the data examined by sales analysts.

Retail sales analysts apply accounting, financial and analytical knowledge to monitor sales data. They use this information to spot trends and project future sales performance based on past information. Like other finance and analysis-related careers, becoming a sales analyst requires a combination of education and business experience. It also requires an eye for detail. Talented sales analysts play an important role in a company's marketing and sales strategy, helping the firm increase its revenue and improve its bottom line.

Things You'll Need

• Computer with access to the Internet for retrieving financial data, news articles and contact information
• A spreadsheet (or other) program to collect company contact information
• Computer with Internet access
• Your resume
• College transcripts
• List of continuing education credits
• Letters of reference

Instructions

1. Complete a college degree, preferably in a business- or finance-related field. Appropriate majors for aspiring retail sales analysts include business administration, management, accounting, finance, marketing or economics. Your college coursework should include classes in accounting, financial management and related subjects.

2. Develop your technology skills. Sales and other financial analysis involves in-depth examination of extensive financial data, often requiring the use of computers equipped with spreadsheet or data analysis software. You should have proficiency with business software, such as Microsoft's Excel spreadsheet program, if you want to work as a sales analyst. Familiarity with statistical software and relational database programs, such as Microsoft Access, is also beneficial.

3. Hone your verbal and written communication skills. Retail sales analysts immerse themselves in sales information, but should not drown managers and other company stakeholders in raw information. Effective analysts translate complex raw data into actionable information, including clearly written reports and user-friendly charts and graphics that illustrate sales performance. Retail sales analysts need strong communication abilities that enable them to develop effective reports and presentations.

4. Apply for a job with a retailer or company in which you are interested. You may start out as an accountant, financial research assistant or other position. However, the practical business experience you gain will familiarize you with the company's work and its broader environment, informing your sales analysis skills.

5. Read business and financial news to better understand broad economic conditions. Staying abreast of developments in the economy will inform your work as a retail sales analyst. It will enable you to understand how these issues impact the sales of the company.

References

• ONet Online: Financial Analysts

Resources

• Read this Article in Spanish
• Simply Hired: Sales Analyst Jobs