Forecast Analyst
The obligation of a forecast analyst is to prepare budgets and other financial projections, along with other many responsibilities within an organization. A forecast analyst must check budget estimates and proposals using cost-benefit analysis. This will enable them to make complex forecasts; provide advices and technical assistance in budgets and other financial matters. It is also the forecast analyst’s duty to examine program trade-offs and study economic developments. The analytical ability of these people can push increasing shareholder revenue of the business.
A forecast analyst must be an expert when it comes to managing and manipulating data. They must be able to identify the bias when making forecast reports and forecasting project trends. The duties of a forecast analyst also include inventory planning using different corporate business statistical forecasting systems.
Salary Information
According to the Bureau of Labor Statistics (BLS), the median annual salary for forecast analysts is $56,040. This employment rate is expected to grow in an average rate through the next decade.
Job Requirements
Statistics or accounting courses can provide the number manipulation and analytical skills that is very essential in developing a budget and creating financial projections. To become an effective forecast analyst, one must have at least a bachelor’s degree in accounting, finance or other related fields. However, there are certain companies that require a master’s degree in applicants. Familiarity with financial software packages that includes spreadsheets, databases and computer graphics applications is also preferred by employers to make sure that forecast analysts can give clear and accurate reports in paper.
