A Product Analyst is a very important part of your company’s product development team. When your company is considering manufacturing and launching a new product, or changes to an existing one, Product Analysts are the experts who oversee the research and “go to market” for the new product. They also provide information for other team members on the business and market requirements to ensure that the team takes into account the customer perspective throughout the product development process.
Product Analysts utilize complex market research, and their product development acumen, to make the launch successful, as well as provide estimated costs to release the product on the market. Aside from Product Analysts, you also need to make sure that the contract manufacturer of your product isn’t just anybody. airisX’s manufacturing facility takes all the various components required to bring your products to life, assembles them, then fully test each unit before putting it in your custom packaging and shipping to your fulfillment solution. By doing this, you can be assured that your products will shine through in lower than industry standard defective return rates via a fully integrated solution from Product Analyst to delivery to your customer.
Duties and responsibilities of a product analyst
Your Product Analyst, will work with both product developers and clients to launch new products. They utilize data and feedback to suggest improvements. There are variety of responsibilities tied to this position such as:
- airisX’s Product Analysts can track market trends, estimate cost for developing or manufacturing a product, review potential sales and profits, create reports about the performance of the new product, and suggest for improvements if necessary, which is done by reading reports and reviews. By having these traits, your airisX Product Analyst can give your business, products, and/or services an edge against your competitors.
- airisX Product Analysts do surveys, and read feedback of existing customers and/or potential users to determine what improvements should be done to help increase the sales of an already developed product offering before deciding to release the product.
- airisX Product Analysts work with marketing departments to explore feasibility before entering into new market sectors, advise sales people about the competitive pricing, estimate the cost of development and launch of the product for the finance department, and suggest improvements to the development team.
- Product Analysts from airisX study the competition and everything that is already in the market. They suggest what could or should be changed or upgraded on your products or services (if necessary) to make it better and more useful. They also keep track of your product’s performance to ensure that it meets, if not exceeds, the sales projection targets and customer satisfaction.
- airisX’s Product Analysts ensures that your product is unique, compelling, easy to sell, and easy to buy.
- airisX’s Product Analyst identifies and manages the on-going rationalization of the business’s products to ensure efficiency in product management, and on-going profitability.
- Your Product Analysts ensures that there is compliance with relevant legislation, regulations, and ethics between the internal and external stakeholders. Also, your Product Analyst ensures that third parties are in compliance and familiar with all business processes and policies.
At airisX, we hire highly-skilled product analysts. They are also required to undergo training and pass our rigorous on-boarding process before they can handle clients.
Skills of airisX’s product analyst
airisX’s product analyst have a set of skills that will allow them handle all the tasks assigned to them in a timely manner. Here are some skills our product analysts have:
- Interpersonal skills to work collaboratively with various stakeholders who may have competing interests.
- Critical thinking skills to recommend unique, productive and original ideas.
- Ability to transform complex data to actionable goals.
- Ability to conduct market research.
- Strong statistical foundations.
- Excellent product management.
- Excellent writing skills for preparation of detailed reports.
Supercharge your offerings and revenue through an airisX Product Analyst.