What Skills Should Research Analysts Have?
First and foremost, Research Analysts need to be able to research and analyze data that they must effectively communicate with their managers. They will need to be strong communicators on paper and in-person. They should be proficient with data modeling and data visualization. They must be experts in Excel and other Microsoft Office programs, such as Outlook and Powerpoint. A Research Analyst will need to take large amounts of information and distill it into digestible key takeaways for their supervisors.
Every industry and specialization is different and Research Analysts must work in their own time to get to know their industry on an expert level. Industry etiquette plays a big factor in landing and keeping a job as a Research Analyst, especially at finance and pharmaceutical companies. Curiosity is essential for a Research Analyst. They should be organized and they’ll need to pay close attention to detail in everything from spreadsheets to emails.
Learn the Skills You Need to Become a Research Analyst
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Financial Modeling
Financial modeling is the use of a tool built into Excel to forecast the future financial performance of a business. These predictions are based on the historical performance of a company, and inferences of the future.
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Accounting
Accounting involves processing, measuring, and communicating financial information about businesses. Accounting often uses software like QuickBooks, Excel, and other office communication tools.
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Finance
Finance involves the management, study, and creation of money and investments. Finance dictates how a company, individual, or governing power acquires necessary capital. Finance typical uses tools like Quickbooks, Oracle, and Excel.
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Investing
Investing is allocating money with the expectation of a future benefit. Benefits accrued through investment are called returns.