An insight into the rising demand for Data Analysts

ESOMAR’s Global Prices Study 2023 report dedicates a chapter to one of the essential components of any project: the market research professionals working on it. The 2023 edition reports that the prices for hiring such professionals have nominally increased since 2021 – though they are still lower than in 2018. The report also showcases that there is a significant leap in rates when transitioning across professional levels with jumps across categories between 40 and 60%. Lisa Wilding-Brown shares her views on the increased demand for professionals who are specialised in Data Analysis.

[Without a doubt, there is an increased demand for professionals specialised in Data Analysis], although we are already seeing this role change in many ways, in this era of unprecedented data availability, the demand for specialised professionals in data analysis has indeed skyrocketed. It is also clear that AI has been making a profound impact on how our space functions. It is important to keep in mind that, at a fundamental level, our industry is and has always been about understanding the complex nuances of emotion-driven decision-making. This can only be achieved when humans are involved with the process, can interpret the results, and make strategic decisions on how to implement findings. AI will no doubt be an asset to making these professionals more efficient through big text data analysis, topical dissection, and other data splicing methods.

As an industry, we must recognise the critical importance of data analysis in extracting meaningful and actionable insights from vast amounts of information. By investing in and fostering the growth of professionals who excel in data analysis and empowering them with the tools to use cutting-edge AI tools more effectively, we can meet the increasing demand, enhancing the quality and depth of insights we provide our clients.

Are you curious about your agency’s prices compared to the median prices at global, regional, and local levels? Head to ESOMAR’s Global Prices Study 2023 to download the report and the data tool to benchmark your agency’s prices!

The report also includes relevant topics for the industry, such as the cost of a standalone F2F/virtual presentation, the choice of data collection methodologies, and the evolution of professional tariffs, along with opinions of industry experts. A must-read for both suppliers and buyers in the industry, available on the ESOMAR website