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Product Research Senior Analyst

The Product Research Senior Analyst is responsible for assisting Product Managers & Product Management Leader to drive profitable growth objectives. The role extracts and manipulates data from various sources to analyze trends, identify/understand key drivers and monitor results against expectations. The role develops and evaluates expected business impacts due to planned initiatives including monitoring and reporting. The role conducts competitor analysis, market research and utilizes strong analytical skills, an insatiable curiosity, a drive to solve problems by analyzing complex data, and the ability to work with limited supervision to discover and implement solutions.Responsibilities• Supports a diverse team of internal employees and external partners in uncovering human-centered insights, and skillfully translates these insights into meaningful opportunities for new products.• Assists with qualitative and quantitative ethnographic research to uncover the most critical unmet needs and uncertainties affecting business owners and their operations.• Aids in the synthesis of research activities to generate insights and opportunity areas to inspire the design of new digital, data-driven product concepts.• Develops scalable and flexible data reporting and analysis solutions to fulfill the needs of the team and analyses financial markets and consumer needs for development of key business opportunities and products.• Uses research and analysis to update various competition and trend reports provided to product design and management within division and company.• Conducts the research, analysis, and documentation of marketplace, consumer, and business opportunities in support of new product concepts or enhancements.• Works with the product managers in phases of market research involving information derived from data processing.• Extracts and processes data from various sources to analyze trends, identify/understand key drivers and monitor results against expectations.• Develops and evaluates expected business impacts due to planned initiatives and monitors/reports on initiative performance against those expectations.• Conducts competitor analysis and market research including pulling and extracting relevant data from competitor rate filings and/or industry publications, identifying opportunities to improve Westfield's product offering/segmentation.Qualifications• 3-5 years of experience in Product Research, Insurance industry or a related field.• Bachelor's degree in market research, statistics, data science, business, or a related field and/or commensurate work experience.Behavioral Competencies• Collaborates• Communicates Effectively• Customer Focus• Decision Quality• Nimble LearningTechnical Skills• Business Analysis• Business Requirement Gathering• Data Reporting and Analysis• Market Research• New Product Development• Product Analytics• Product Development Lifecycle• Technical DocumentationLocationHybrid defined as three or more days per week in the office.About UsFounded in 1848, Westfield is a global leader in property and casualty insurance, delivering superior risk insights and innovative solutions to customers through a diverse portfolio of insurance products. Westfield underwrites commercial, personal, surety, and specialty lines of coverage through a network of leading independent agents and brokers in the United States and specialty products through Lloyd’s of London Syndicate 1200. As a mutual insurance company with more than 3,000 employees, Westfield has revenues in excess of $4 billion and more than $10 billion in assets. Learn more at www.westfieldinsurance.com.Equal Opportunity EmployerWestfield celebrates diversity and is committed to inclusion. All qualified applicants receive consideration for employment without regard to race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, or status as a protected veteran.
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Average salary estimate

$95000 / YEARLY (est.)
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$80000K
$110000K

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What You Should Know About Product Research Senior Analyst, Westfield Insurance

Are you ready to take your career to the next level? As a Product Research Senior Analyst at Westfield, located in the heart of Westfield Center, OH, you'll be at the forefront of driving profitable growth objectives for one of the industry's leading insurance companies. In this dynamic role, you’ll collaborate closely with Product Managers and the Product Management Leader to leverage your analytical skills in extracting and manipulating data from various sources. Your knack for problem-solving will shine as you uncover critical trends and monitor performance against expectations. You'll get to conduct competitor analyses and market research, ensuring that Westfield remains ahead of the curve. Not only will you support a diverse team in translating human-centered insights into meaningful product opportunities, but you'll also develop scalable data reporting solutions that serve the entire team’s needs. If you have 3-5 years of experience in Product Research or the insurance industry and possess a Bachelor's degree in a related field, this opportunity is your chance to thrive in a hybrid work environment with a company that values your insights and contributions. Let’s innovate and inspire change at Westfield!

Frequently Asked Questions (FAQs) for Product Research Senior Analyst Role at Westfield Insurance
What are the responsibilities of a Product Research Senior Analyst at Westfield?

The Product Research Senior Analyst at Westfield plays a crucial role in driving profitable growth. Responsibilities include analyzing trends using data from various sources, conducting competitor analysis, and market research, as well as synthesizing insights to inform new product concepts. This role also involves collaborating with product managers on market research and developing flexible reporting solutions that meet analytical needs.

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What qualifications are required for the Product Research Senior Analyst position at Westfield?

To qualify for the Product Research Senior Analyst position at Westfield, candidates should possess 3-5 years of experience in Product Research, preferably within the insurance industry. A Bachelor's degree in market research, statistics, data science, or business is also required or equivalent work experience. Strong analytical skills and a customer-focused approach are vital for success in this role.

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How does the Product Research Senior Analyst contribute to product development at Westfield?

The Product Research Senior Analyst significantly contributes to product development at Westfield by conducting thorough market research and providing data-driven insights. They assist in identifying unmet needs in the industry, which can lead to the design of innovative, data-driven product concepts. Their work ensures that the offerings are well-aligned with market trends and consumer expectations.

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What technical skills are necessary for a Product Research Senior Analyst at Westfield?

Key technical skills required for the Product Research Senior Analyst role at Westfield include business analysis, data reporting, market research, and knowledge of the product development lifecycle. Proficiency in business requirement gathering and product analytics is also important for successfully executing the responsibilities of this position.

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What is the work environment like for a Product Research Senior Analyst at Westfield?

The work environment for a Product Research Senior Analyst at Westfield is hybrid, meaning that employees are expected to work in the office three or more days per week. This setup encourages collaboration with both internal and external partners while also allowing for flexible work arrangements that can enhance productivity.

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Common Interview Questions for Product Research Senior Analyst
Can you describe a project where you utilized data analysis to support product development?

In your response, focus on a specific project where your analytical skills made a significant impact. Detail the tools you used for data analysis, what insights you discovered, and how these insights drove product decisions. Be sure to highlight your problem-solving approach and the outcome of the project.

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How do you approach competitor analysis in your role as a Product Research Senior Analyst?

Discuss your methodology for conducting competitor analysis, including which data sources you prioritize and how you synthesize this information into actionable insight. Emphasize your ability to translate analysis into strategic recommendations for product enhancements.

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What experience do you have with market research methodologies?

Share specific methodologies you’ve employed in the past, such as qualitative or quantitative research techniques. Explain how these methodologies have helped you uncover key insights that influence product direction, and provide examples of your findings.

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How do you prioritize data reporting and analysis tasks?

Articulate your organizational strategies, such as using project management tools to track priorities, and explain how you align these tasks with team objectives. Providing an example of a time you managed competing deadlines could be beneficial.

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Can you discuss a time when your research uncovered a significant opportunity for a new product?

Prepare to explain a scenario where your research led to a valuable opportunity. Discuss the research process, the findings, and how your insights were communicated to stakeholders, ultimately influencing product strategy.

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Describe how you stay updated with trends in the insurance industry.

Discuss your methods for staying informed, such as subscribing to industry journals, attending webinars, or networking with peers in the insurance space. Make sure to explain how this knowledge is applied to your work at Westfield.

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What tools and software do you typically use for data analysis?

Mention specific tools you are experienced with, such as Excel, R, or Tableau, and explain how you use them in your analysis process. Highlight any unique insights gained from these tools.

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How do you handle discrepancies in data findings?

Describe your systematic approach to identifying and addressing discrepancies, emphasizing your analytical skills and attention to detail. Share an example of how you successfully resolved a data conflict to ensure accurate reporting.

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What role does communication play in your work as a Product Research Senior Analyst?

Elaborate on how effective communication is critical for collaborating with team members and presenting findings to stakeholders. Illustrate this with examples of presentations or reports where your communication efforts led to better decision-making.

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How would you evaluate the success of a product initiative post-launch?

Discuss the metrics and benchmarks you would use to measure success, such as sales figures, customer feedback, and market share analysis. Explain how you would use these evaluations to inform future product developments.

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Everyone who ever started something took a risk. A career. A family. A home. A business. This country was built on a core value that if you believe in yourself and take a risk, you can do anything and be anything. There’s nothing more American tha...

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Full-time, hybrid
DATE POSTED
December 1, 2024

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