What does an Entry Level Product Analyst do?
Product analysts utilize market data to help companies develop marketing strategies for a product by comparing a company's product and industry trends and ensuring that a product is most suitable and profitable.
Product analysts evaluate company products to understand the product and see if it will meet the company’s current and future needs. They also assist with product ratings and reviews. They analyze metrics to continually improve products while developing and overseeing small-to-medium-scale projects. They work with other departments to enhance the analysis and presentation of a product. They contribute to operations including costing, inventory control, planning, and budgeting. They work with data analysis software to determine a product's potential sales and profitability and monitor its performance to define strategies that improve the products’ performance. A product analyst needs a minimum bachelor's degree in business, economics, mathematics, or related fields.
What responsibilities are common for Entry Level Product Analyst jobs?
- Improve product features and measure the impact of product features and experiments.
- Utilize various data to identify new profit and growth opportunities in the assigned state(s).
- Help develop commercially successful assessment solutions (including software, digital, print and professional development offerings) which deliver real value for identified market segments.
- Work closely with sales and marketing teams to develop and/or refine customer value propositions and competitive positioning for key assessment product solutions.
- Analysis, preparation, and management of product enhancements that affect their modules.
- Collaborate with cross-functional teams across disciplines such as product, engineering, design, success, and support.
- Create and update product documentation (both for internal and external use).
- Provide project management and business analysis support in an agile development environment.
- Automate risk processes, where possible, with the relevant tools to ensure scalability of all risk operations.
- Ensure project controls are in place throughout the life cycle of the project on individually assigned tasks.
- Analyze trends and pore through our data to answer critical business and product questions.
- Represent organization as prime contact for projects and other necessary communications.
- Complete department specific training plan to gain exposure, knowledge and build relationships.
- Work with QA team to define and manage testing suite.
- Assist with communication and launch plan of developed and/or enhanced products.
- Support other teams to help drive adoption and use of products.
- Manage and own the product life cycle from strategic planning to tactical execution and beyond.
- Establish the product's goals.
- Evaluate top and bottom line impacts of action plans.
- Participate in development, execution and implementation of local underwriting and line management strategies as directed.
- Provide design direction, to development personnel, and reviewing the design and specifications for changes that affect their respective modules.
What are the typical qualifications for Entry Level Product Analyst jobs?
- Bachelor's or Graduate's Degree in business, computer science, engineering, or information systems, or equivalent experience.
- Experience with SQL, Python, Jira, SAS, and object oriented programming.
- Fluent in business process analysis and statistics.
- Demonstrated attention to detail and decision making capabilities.
- Prior experience as a consultant.
- A collaborator, critical thinker, and problem solver.
- Able to use leadership skills in decision making.
- Can participate in Agile ceremonies including daily scrums.
Education--
Work/Life Balance
3.9 ★
Salary Range--
Career Opportunity
3.8 ★
Avg. Experience8+ years
Entry Level Salaries
Average Base Pay
$40,133 /yr
Same as national average
Not including cash compensation
$27K
Median: $40K
$60K
Glassdoor Estimated Salary
Entry Level Product Analyst Career Path
Learn how to become an Entry Level Product Analyst, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
L1
Entry Level Product Analyst
$40,133/yr
L2
Product Analyst
$63,765/yr
L3
Senior Product Analyst
$85,114/yr
L1
Average Years of Experience
0 - 1
0%
2 - 4
0%
5 - 7
0%
8+
100%
Not including years spent in education and/or training
Entry Level Product Analyst Insights
Read what Entry Level Product Analyst professionals have to say about their job experiences and view top companies for this career.
Smart Energy WaterSenior Product AnalystOct 19, 2020
“The best advice would be to consider other options to work and avoid this place until the CEO is replaced.”
Optum Global SolutionsSenior Product AnalystDec 23, 2021
“Sodexo benefit range should be increased to good amount currently I feel it is the lowest in industry”
RedSail TechnologiesProduct AnalystJul 9, 2021
“Salary was not on par with current job taken with a lower position in the same field.”
Bloomberg L.P.Financial Products AnalystMar 3, 2022
“Bloomberg is a great place to start your career in which you would get a lot of exposure to a broad spectrum of asset classes.”
Cognizant Technology SolutionsProduct AnalystSept 2, 2020
“Good good good good good”
AtlassianProduct AnalystMar 2, 2021
“Great culture and the best people to work with in my life!”
Junglee GamesProduct AnalystFeb 23, 2022
“Great Team to work with and Good people”
Johnson & JohnsonProduct Analyst InternNov 23, 2021
“great work and life balance”
Frequently asked questions about the role and responsibilities of an Entry Level Product Analyst
The most similar professions to Entry Level Product Analyst are:
- Process Analyst
- Operations Analyst
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- Business Analyst