Business Knowledge Part 1

What is the purpose of a business matrix analysis?

• To determine the best color scheme for a website

• To analyze personal finances

• To evaluate and compare different aspects of a business

• To predict future market trends

Which department within a company is most likely to benefit from CPL data analyst insights?

• Customer Service

• Research and Development

• Marketing

• Human Resources

Why is it important for data analysts to collaborate with various departments for effective business matrix analysis?

• Collaboration with various departments leads to conflicts and delays in the analysis process.

• Data analysts should work independently to maintain confidentiality and control over the data.

• Involving multiple departments in analysis hinders decision-making and slows down the process.

• Collaboration with various departments provides access to diverse data sources, domain-specific insights, and ensures alignment with business goals.

What are some key metrics that data analysts often look at in a business matrix?

• Employee Satisfaction

• Social Media Followers

• Revenue, Customer Acquisition Cost, Customer Lifetime Value, Churn Rate, Conversion Rate, Return on Investment

• Website Traffic

What are some challenges data analysts may face when working on business matrix analysis?

• Lack of coffee supply

• Alien invasion disrupting data flow

• Data analysts turning into unicorns

• Data quality issues, lack of domain knowledge, incomplete or inconsistent data, data privacy concerns, difficulty in interpreting complex data relationships

In what ways can a data analyst contribute to strategic decision-making based on business matrix insights?

• By analyzing data to identify trends, patterns, and correlations, providing data-driven recommendations, forecasts, and insights, and creating visualizations and reports to communicate findings.

• By providing inaccurate data interpretations

• By ignoring data analysis and relying solely on intuition

• By refusing to collaborate with other departments

The higher the ratio or rate, the better (select more than one if any)

• Retention Rate

• Churn Rate

• Employee Turnover

• Working Capital

what metric that appropriate for sales department? (chose more than one if any)

• Total Revenue

• Closed deals

• Inventory Turnover

• NPS score