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The role of the Product Analyst is, generally, to liaise with product managers for measuring and monitoring the product or service’s performance as well as presenting product related consumer, market, and competitive intelligence.
Product Analytics: The Product Analyst is responsible for the development and delivery of tangible consumer benefits through the product or service of the business and for measuring and monitoring the product or service’s performance, as well as presenting product related consumer, market, and competitive intelligence.
Product Strategy: The Product Analyst is responsible for the development and proposal of product strategies.
Product Management Operations: The Product Analyst responds to all requests and enquiries for product information or changes in a timely manner, performs initial product analysis to assess the need for requested changes and their potential impact, undertakes financial modeling on the products or services of the business and target markets, and presents the information to the Marketing Manager and other stakeholders. The Product Analyst produces reports and makes recommendations to the Product Manager and Product Marketing Manager to guide decision making for new and existing products.
Initiative: The Product Analyst ensures a good flow of communication between the Product team and other teams by actively participating in team meetings and keeping everyone up to date.
Pricing and Development: The Product Analyst monitors the market, competitor activities, and price movements, makes recommendations for key decision making, and liaises with other departments such as credit/risk to enhance the efficiency of price changes in accordance with market shifts.
Customer/Market Intelligence: The Product Analyst drives consumer intelligence through the development of external and internal data sources that improve the business’s understanding of the product’s market, competitor activities, and consumer activities. The Product Analyst develops or adopts research tools, sources, and methods that further support and contribute to the business’s product.