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Product Analysts

History

Manufacturers and producers of goods and services have always been concerned about improving their products and keeping their customers happy. Industries have grown in recent decades and new technologies have improved manufacturing processes as well as the tools used to research and analyze the performance of products in the marketplace. 

The product analysis field is closely tied to the market research field. After World War II, the U.S. economy regained strength. Companies started to focus on improving their products and developing new product lines. They hired analysts and specialists to use statistics to research and analyze how their products were performing and the status of their competitors' products. 

By the 1970s, the product development and analyst field had developed to the point where professional associations were established to provide standards and guidance for the industry. The Product Development and Management Association, for example, was formed in 1976. Today its members include companies such as Cargill, Clorox, Georgia-Pacific, IBM, Kimberly-Clark Corporation, Petco, Sherwin-Williams, and Thomson Reuters.

To compete in today's global marketplace, companies rely on product analysts to help them produce the best products possible and improve their customer experience. Product analysts work for numerous industries, using data analysis software and interviewing customers to gather feedback and make recommendations for product improvement and innovation.