The role of product analysts, evolving rapidly over the years, encompasses far more than merely creating dashboards and tracking metrics. It involves a comprehensive engagement with data, strategic business thinking, and product-centric analysis. A recent survey conducted by Lamoda Tech, involving 115 specialists from leading IT companies across various sectors such as e-commerce, banking, and education, highlights the diverse functions and tools that product analysts utilize, showcasing their unique career paths.
The survey reveals that nearly half of the respondents have been in the field for 3 to 5 years, with 26.1% having 1 to 2 years of experience. Impressively, 94% of both groups have achieved a mid-level position, suggesting that rapid career advancement is a hallmark of this profession. Intriguingly, over a third of those surveyed learned the trade through self-study, while 30.2% transitioned from related fields. Only 14% began their careers through formal educational courses or internship programs.
Contributors to the study shared their personal journeys into product analytics, often sparked by a passion for data and an interest in making meaningful impacts on products and businesses. Initial success in the field hinges on technical skills and self-driven learning, with further career growth tied to increasing responsibilities and complexities of tasks. However, not all pursue management roles, which is a significant point of discussion.
Vlad Duykov, a Senior Product Analyst at Lamoda Tech, reflects on his journey that began in September 2022 as a Junior Product Analyst. He emphasizes the importance of analytical skills and the enjoyment of working with data to drive insights. Career progression may take two paths: honing hard skills to become a Principal Analyst or adopting managerial skills for team leadership.
Sofya Lisichkina of Lemana Tech began her career in online advertising but moved towards a more impactful analytical role, integrating both online and offline data systems. Her ambition includes fostering a data-driven culture within organizations and exploring consultancy or educational initiatives in the future.
Ksenia Kolesnikova, now Head of Analytics at Yandex Practicum, evolved from a startup analyst to a leadership position, where she focuses on team expansion and strategic influence through analytics. Similarly, Viktor Zharov, leading analytics at Setka, envisions growing his team and having significant impact as the social networking product matures.
Respondents noted that key responsibilities include analyzing metrics (17.9%), reporting (16.2%), and hypothesis testing (15.7%). As analysts progress, their role shifts from conducting A/B tests and research to guiding product strategy and team development. Many seek full-cycle tasks that allow them to impact every stage from identifying issues to realizing financial benefits.
The insights gained from this research underscore the vital and transformative role of product analysts in tech companies, emphasizing their function as drivers of product and strategic decisions. As the market continues to evolve, competition among tech firms will likely increase for skilled analysts capable of delivering these critical insights.
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