What does a Strategy Analyst do?
Published 4 min read
A Strategy Analyst is responsible for the development and implementation of an organization's strategy. They work with senior management to create long-term plans and objectives, and then develop specific strategies to achieve these goals. They also conduct research and analysis to support the decision-making process, and monitor progress against the plan to ensure that objectives are being met.
Strategy Analyst job duties include:
- Conducting research and analysis on various industry sectors, companies, and competitors
- Developing presentations and recommendations based on findings
- Assisting in the development and implementation of strategic plans
- Monitoring industry trends and developments
- Identifying opportunities and threats for clients
- Conducting financial analysis and modeling
- Developing business cases and ROI analysis
- Supporting the sales team with proposals and presentations
- Working with cross-functional teams to develop new strategies
- Providing ongoing analysis of existing strategies
Strategy Analyst Job Requirements
Strategy analysts typically have a bachelor's degree in business administration, economics, finance, or a related field. Many employers prefer candidates who have a master's degree in business administration (MBA) with a concentration in strategy. Certification is not required, but it may give candidates an advantage in the job market. Employers also prefer candidates with several years of experience working in strategic planning, management consulting, or a related field.
Strategy Analyst Skills
- Analytical
- Critical thinking
- Problem solving
- Decision making
- Research
- Data analysis
- Communication
- Writing
- Presentation
- Project management
- Teamwork
- Time management
Related: Top Strategy Analyst Skills: Definition and Examples
How to become a Strategy Analyst
There is no one-size-fits-all answer to becoming a strategy analyst, as the role can vary depending on the company and industry. However, there are some key steps that will help you on your way to becoming a successful strategy analyst.
1. Firstly, it is important to get a strong understanding of the business you are in. Whether you are working in a small company or a large corporation, it is essential to know how the business operates and what its goals are. This will allow you to identify opportunities and threats that could impact the business, and help you develop strategies to mitigate these risks.
2. Once you have a good understanding of the business, you need to start thinking about how to achieve the company’s goals. This involves understanding the competition, customer needs and trends in the industry. It is also important to think about how to allocate resources effectively to achieve the desired results.
3. After you have developed some initial ideas, it is important to test them out. This can be done through simulations or other forms of analysis. It is also important to get feedback from others in the company, such as senior managers or board members. This will help you refine your ideas and make sure they are feasible before presenting them to decision-makers.
4. When you are ready to present your ideas, it is important to do so in a clear and concise manner. This means being able to articulate your thoughts clearly and providing supporting evidence for your recommendations. Remember that decision-makers are often busy people, so it is important to make your presentation as easy to follow as possible.
5. Finally, once a decision has been made, it is important to monitor the implementation of the strategy and make adjustments where necessary. This includes tracking progress against objectives and KPIs, and modifying the strategy if it is not working as planned. It is also important to communicate regularly with those who are responsible for implementing the strategy, so that everyone is aware of any changes that need to be made.
Related: Strategy Analyst Resume Example
Related: Strategy Analyst Interview Questions (With Example Answers)