In any financial organization research and analysis is a critical function. This is to make sure that clients financial assets are invested appropriately. Therefore research analysts are hired to research and evaluate possible risks and possible returns and other financial transactions. Research analysts therefore are people who monitor market trends considering political, economic and controlling adjustments so that they may be able to identify eventual external influences that could affect investment profits. You should understand that a research analyst focuses on primary area such as industry, geography or some forms of financial products.
To become a research analyst you need to:
HAVE ATTAINED SOME LEVEL OF STUDY
To be a recognizable, dependable and successful research analyst you need to have attained a bachelors degree in the field of mathematics, statistics, economics or accounting. This skills will help you to analyze complex market, financial, academic and other data. Other experiences related to this are also key. Some of this experiences are deep industry experience and research experience in other fields. For example a librarian; this experience skills will help you to identify sources of information, ability to review, compile and synthesize information.
HAVE STRONG ANALYTICAL THINKING SKILLS
Analytical thinking is the ability to solve complex problems by breaking them into simple and manageable quickly and effectively. Analytical ability will help you to interpret and work with market data. To become a research analyst therefore you should be able to gather information, articulate, visualize and solve complex problems. Analytical skills can be built by reading widely, asking yourself questions about your observations and trying to find answers with this you’ll improving your skills of being a research analyst.
HAVE KNOWLEDGE OF DATA PRESESNTATION METHODS.
You should be able to compile your findings well by synthesizing it into reportable and user friendly methods before presenting it to the relevant people. You should also draw your own recommendations.
HAVE KNOWLEDGE OF DATA MANAGEMENT TECHNIQUES
A research analyst conducts research on specific required topic, analyzes it, and summarizes it to present it appropriately to the organization. You need to maintain this information on specific software like the data base/spreadsheet, therefore the knowledge on this field is vital.
HAVE VIRTUES
Some of this virtues include patience, humility and gentleness. You’ll not expect to find people who are kind to strangers; some of those people who you’ll require information from will be rude and stubborn. You need to be gentle to them and be humble enough so that you can convince them to give you the information that you need. One one person disappoints you then do not give up, be patient; remember you owe some information and recommendations to a certain organization, whom you can’t afford to disappoint.
A research analyst also requires to have knowledge of broad range of investment products. for example stocks bonds, etc., and financial markets in order to effectively conduct the research. You should also be up to date with current affairs such as market and industry trends, political affairs in order to access and evaluate their impacts on investments and markets. You should have mechanisms for accessing industry, market and academic information in time. You should also provide appropriate and adequate support, this requires investment and wealth management functions.
Conclusion
A research analyst in a very essential person in the business world. Most of the running businesses require one or more research analysts to present to them some essential reports on how to improve their market for example. Potential investors require a research analyst to present them with information such as where there are market gaps in order to invest there. Therefore if you have the passion of working as a research analyst you need to invest on the requirements and as soon as you attain them you’ll never regret as there is a wide market waiting for you.