Quantitative Analyst: Uncovered | MDRG

Quantitative Analyst: Uncovered

Scott Mayer

Associate Quantitative Analyst

What is a Quantitative Analyst?

Quantitative Analysts, or more casually “quants”, seek insights and answers to critical business questions by developing and implementing mathematical and statistical methods. Quantitative Analysts can be found in almost every industry, applying advanced techniques to answer marketing, finance, operations, sales, and engineering questions. A combination of skills, education, training, and personality traits are required to become an effective Quantitative Analyst. Particularly, marketing research Quantitative Analysts use the above methods to gain insight into the four P’s of marketing: Price, Product, Promotion, and Place.

Quantitative Analyst at MDRG

Quantitative Analysts at MDRG participate in every step of the research process: helping the client precisely define the problem, designing an engaging and effective research survey, collecting and cleaning the data, analyzing the data using a multitude of methodologies, and writing and presenting the report to the client. The focus at MDRG is on insights, not just numbers. Therefore, we not only apply statistical methods, but craft an insightful and intriguing story.

Responsibilities of a Quantitative Analyst

MDRG expects a Quantitative Analyst to fulfill the following responsibilities:

  • Design custom research solutions including sample and survey design that meet both the research and business objectives.
  • Manage research projects, including coordinating schedules and following up with vendors and clients.
  • Own research projects that involve varying degrees of modeling and advanced statistical analysis (ex. Regression, Segmentation, Choice Based Conjoint)
  • Synthesize large amounts of data into insights that are compelling, concise, actionable and that maximize decision support.
  • Provide project support to a larger team in managing and delivering custom research solutions.
  • Use statistical, survey design, and reporting software to fulfill their duties (Sawtooth for survey design; Q, SPSS, WinCross, and Excel for data analysis; and PowerPoint for report design)

It isn’t enough to deliver the data; we must provide solutions using words and visualizations to create a coherent and compelling story to present to the client. Quantitative Analysts are strategic thinkers.

Why Did I Become a Quantitative Analyst?

I joined MDRG as a Quantitative Analyst. I’ve always had a knack for numbers since I was a kid, eventually earning degrees in Economics and Mathematics from Tulane University and working with data in both the financial and government sectors. After a stint in the non-profit industry, I decided to further develop my career as a Quantitative Analyst at MDRG and learn the particulars of the market research industry. Prior to MDRG, my experience lied in operations – using operational data to formulate business decisions. At MDRG, the data is based in the market – analyzing consumer preferences and behavior to inform marketing decisions. I love learning the ins and outs of methodologies both old and new – what’s the best way to view this data to gain insights? Like solving a math problem, finding an answer using creative quantitative techniques can be exceptionally fulfilling and thrilling.

The Future is Bright

The Data Revolution is in full force, as firms look to the ever-advancing computing power to pull and analyze data that is now being sourced from practically anywhere. More and more companies rely on sound scientific methods to analyze this data to answer critical business questions. According to the U.S. Bureau of Labor Statistics, Quantitative Market Research Analysts are projected to see a 23% increase in employment from 2016 to 2026, much faster than the average for all occupations. The future is bright – and MDRG will continue to be on the forefront of the Data Revolution by continuing to employ the brightest Quantitative Analysts and ensure the highest standards of quality.

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