Product analysts are an individual kind of business analyst who is involved in the company's strategic review and planning process, which includes analyzing the current products as well as potential new products that the company may want to launch. The analyst for product usually is employed by a single company however, they can be employed as contractors or independent consultants for companies that want to gain the perspective from an outsider. They are employed across a variety of industries, which means various skills and levels of expertise are needed based on the job. Additionally an analyst in the field of product may be employed at an upper level, providing advice to the upper management or might be involved in the specific evaluation of a product's capabilities and functions. For instance, a product analyst working for a software company could be involved in the evaluation of user interfaces for products in order to enhance the user experience. Likewise, an analyst at the top of the line for a toy maker could be involved in market research or focus groups to determine areas of opportunity in the educational toy market. The vast majority of product analysts work most of their time in a workplace and are in close contact with different departments within the company like marketing as well as product development and finance. However, some sectors (for example, those that provide construction tools for commercial use) might spend time out in the field conducting interviews and watching the majority of users of the products of their companies. A bachelor's degree in a related area is usually the minimum education requirement for this job. But, there are some analysts who are promoted from within their own organization, usually due to their understanding of the company's products as well as their ability to think strategically and laterally.

The role of a Product Analyst in India is projected to experience significant growth in the market. According to a 10-year analysis, this job role has seen a consistent increase in demand and is expected to continue growing in the future. With the rapid expansion of technology and digital products, the need for competent Product Analysts is on the rise. Google data suggests that the employment opportunities for this role will continue to multiply, offering a promising career path for individuals pursuing this field.

How to Learn

As a Product Analyst with 3-6 years of experience in India, here are some main responsibilities:<ul><li> Conducting market research and competitive analysis to gather insights on customer preferences and market trends.</li><li> Collaborating with cross-functional teams to define product requirements and develop strategies for product improvements.</li><li> Analyzing user data and feedback to identify areas for product optimization and recommend enhancements.</li><li> Conducting product performance analysis to measure the effectiveness of product features and make data-driven recommendations for future enhancements.</li></ul>

Roles & Responsibilities

Average take home Salary for a Product Analyst in India is around ₹994557 per year

Salary Breakup

Product analysts are an individual kind of business analyst who is involved in the company's strategy review process and plan, which includes analyzing the current products as well as potential new products that the company may want to launch. The analyst for product usually is employed by a single company however, they can be employed as contractors or independent consultants for companies that want to gain the perspective from an outsider. They are employed across a variety of industries, which means various skills and levels of expertise are needed based on the job. Additionally an analyst in the field of product may be involved at an upper level, providing advice to the upper management or might be involved in the specific evaluation of a product's capabilities and functions. For instance, a product analyst working for a software company could be a part of the evaluation of user interfaces of products to enhance user experience and a top-level product analyst for a toy maker could be involved in market research or focus groups to determine areas of opportunity in the educational toy market.

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Product Analyst

Salary Breakup

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