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What does a Sales Analyst do?

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Talent.com talent.com
Answered July 14 2022
Career Expert at Talent.com
A Sales Analyst spends their time analyzing data and information related to sales. They use this data to identify trends and patterns, which they then use to make recommendations to improve sales performance. In addition to analyzing data, Sales Analysts develop reports and presentations to communicate their findings to others.  
  
Some Sales Agents will likely take a role in training other, more Junior sales staff on how to use data effectively, and in doing so, they can help improve a company's sales performance. Often, companies want to collect and use data but don't necessarily know how to interpret the information. Sales Agents are the missing link to this dilemma by collecting and analyzing data, resourcing existing data from reports, and using it in their research of current market changes and trends.  
   
A Sales Analyst also uses sales prediction software to determine future trends. Evaluating and predicting sales trends is crucial in situating Sales Analysts as the key advisors working to improve a company's profitability.  
   
Roles and responsibilities of a Sales Analyst
Here's a non-exhaustive list of everyday tasks Sales Analyst are required to complete: 
 
  • Conduct data analysis to assist in the sales process. 
  • Collect and analyze data from sales reports. 
  • Develop methods and strategies for assessing large amounts of data. 
  • Closely study and analyze past sales data to determine trends in productivity. 
  • Evaluate current sales goals. 
  • Examine the company's budget. 
  • Perform market research into industry trends related to the company's business. 
  • Conduct research and monitor the competition and the surrounding market.  
  • Complete financial, volume, and competitive analyses. 
  • Review shopping and purchase trends of the company's consumer base and target demographic. 
  • Use sales prediction software to determine future trends.  
  • Prepare and submit reports based on the collected data and their conclusions to Sales Managers, members of the board, or the organization's CEO.  
  • Develop quotas for the Sales team, evaluate their performance based on this quota, and forecast sales.  
  • Prepare daily, weekly, quarterly, monthly, and annual sales reviews.  
  • Work alongside and provide support/advice to the Finance, Marketing, and Sales departments. 
  • Suggest adjustments and revisions to current sales techniques and promotional strategies to improve sales and profitability based on market research and new trends. 
  • Act as a consultant for the company's marketing strategies, assisting in the design of promotional material when required. 
  • Attend and participate in sales strategy meetings. 
  • Assist in implementing budget and marketing changes and following up to evaluate the results. 
  • Provide suggestions for budget rearrangement and reallocation of funds to save money.  
  • Provide customized reports and recommendations supporting ongoing business decisions or initiatives. 
  • Assist with customer relationship manager (CRM) system data upkeep.  
  • Prepare and lead informational meetings for staff to explain sales trends and new marketing strategies.  
  • Advise on staff members' hiring and/or termination, as needed. 
Easteregg!