Product Analyst

Location: This position is a hybrid role based out of our Canonsburg, PA office. The current expectation is that we are in office two days each week (Tuesday-Wed), with extra additional days as required during the month.

Overview: The Product Analyst will report to the Senior Director, Product Management. This role will perform market research and analyze market data, identifying customer and consumer behaviors and trends. The Product Analyst makes recommendations and provide launch strategies based on their analyses to increase product line profitability. This individual will monitor product performance and utilize data and user feedback to suggest improvements.

Business Unit: Pharmacy

Duties and Responsibilities:

• Analyze data and research the market and competition to identify market trends to identify product enhancements and new market opportunities.
• Forecast the costs of developing and marketing a product or feature, as well as potential revenue and profit.
• Create reports about the performance of a given product, and suggest possible improvements, which are done by reading reports and reviews
• Conduct interviews or focus groups with existing customers and/or prospects to get feedback. May also include usability tests as well as anonymous surveys.
• Collaborate with cross-functional teams and other product lines
• Partner with Marketing to explore entry / expansion into new markets, build and evaluate competitive pricing strategies
• Evaluate the costs of development and launch and leverage market intelligence and product knowledge to suggest improvements to product and development teams.
• Monitor product performance and provide detailed insights and reports on product performance (sales / financials / transactions)
• Maintain compliance with Inovalon's policies, procedures and mission statement.
• Adhere to all confidentiality and HIPAA requirements as outlined within Inovalon's Operating Policies and Procedures in all ways and at all times with respect to any aspect of the data handled or services rendered in the undertaking of the position; and
• Fulfill those responsibilities and/or duties that may be reasonably provided by Inovalon for the purpose of achieving operational and financial success of the Employer.

Job Requirements:

• 3+ years of experience in Product Analyst or similar role.
• Strong knowledge of Agile process and principles.
• Experience in the healthcare industry required.
• Product management experience preferred.
• Strong interpersonal and collaboration skills.
• Must be able to interact with various cross-functional teams (Product, Development, Marketing, etc.) as well as clients and prospects.
• Knowledge of Microsoft Office (Word, Excel, Visio), Confluence, and JIRA
• Experience in conducting market research
• Ability to work both independently and as a team member in a fast paced, remote environment.
• Highly self-motivated / goal-oriented with strong analytical and problem-solving skills
• Effectively leads projects and influences people to achieve department/company goals
• Ability to organize material and complete writing assignment according to set standards regarding order, clarity, conciseness, style, and terminology.
• Strong knowledge of the documentation process from design to commercial release
• Demonstrated ability to synthesize complex concepts and data into actionable goals and understandable documentation and presentations.

Education:

• Bachelor's Degree in business administration, marketing, information technology, math, economics, or related field required.

Physical Demands and Work Environment:

• Sedentary work (i.e. sitting for long periods of time).
• Frequently or constantly lift, carry push, pull or otherwise move objects and repetitive motions.
• Subject to inside environmental conditions.
• Travel for this position will include less than 10% locally usually for training purposes.