The job description of a business development analyst requires a clear understanding of industry challenges. The analyst must use knowledge of data and trends to identify new sales opportunities for a company.
A business development analyst is charged with performing analytical tasks for the purpose of developing, analyzing and distributing sales and productivity reports to management as well as other staff.
Essential Duties and Responsibilities of a Business Development Analyst
- Recommends marketing strategies for the purpose of enhancing company sales.
- Conducts market research into emerging trends in the industry.
- Develops and implements targeted surveys for the purpose of gathering market information.
- Creates custom reports and generates standard reports for management and sales staff.
- Conducts organizational studies and work simplification studies to help streamline business processes.
- Prepares procedural and operational manuals for staff and management.
- Reviews forms and reports to determine weak areas and make improvements.
- Designs new forms and reports for staff and clients.
- Meets with staff to explain new systems or procedures.
- Documents findings of studies and implements new systems or procedures based on those findings.
- Trains staff on proper use of new forms and reports.
- Analyzes work flows and makes recommendations for streamlining or improving the process.
- Develops and implements records management programs for filing and retrieval of records.
- Recommends purchase of storage units for maintaining files.
- Finds new business partners for the company.
- Helps create and maintain a marketing plan for a new or existing product.
- Helps develop new sales leads for the company.
- Researches marketing opportunities and communicates to marketing staff.
- Produces statistical models to help predict market trends.
- Interprets financial statements.
- Determines target audiences to introduce new product offerings.
- Reads publications and attends seminars on industry trends to aid in keeping ahead of the competition.
- Identifies potential new markets.
- Communicates with and qualifies sales prospects.
- Assists with writing proposals.
- Analyzes the techniques and successes of the competition.
Required Knowledge, Skills and Abilities
- Must have strong interpersonal skills.
- Must have excellent analytical and research skills.
- Must have superior written and verbal communication skills as well as good presentation skills.
- Must have good organizational skills and the ability to effectively prioritize tasks.
- Must have excellent computer and technical skills and knowledge of report writing software.
- Must have good problem solving and decision making skills..
- Must have strong leadership and managerial skills.
- Must have good negotiation and persuasion skills.
- Must have excellent math skills.
- Must be detail oriented.
- Must have good conflict resolution skills.
Education and Experience
- Bachelor’s degree in Business, Operations, Accounting, Analytics, Finance or Marketing.
- Master’s degree in Business Administration.
- Experience in sales and marketing.
- Internship in a relevant field.
- Proficiency in computer operation and business and sales software.
- Must be willing to work long and flexible hours to meet project deadlines.
- Time is spent primarily in a climate controlled office.
- Must be able to spend long hours looking at a computer screen and keyboarding.
- Must be willing to travel to conferences, seminars and client locations.
- Salaries range from $40,000 to $75,000 with the average being approximately $55,000.