Start learning 50% faster. Sign in now
Explanation: Defining clear objectives and identifying relevant Key Performance Indicators (KPIs) and metrics is the foundational step in addressing any business problem. In this case, the objective could be increasing sales, while relevant KPIs might include sales growth rate, average transaction value, or customer retention rate. By aligning KPIs with organizational goals, a data analyst ensures the analysis targets actionable insights. Without this step, the subsequent analysis risks being unfocused, leading to ambiguous results that do not address the core issue. Establishing metrics also helps in benchmarking performance and tracking improvements over time. Option A: Building predictive models is a later step and requires clear objectives and clean data for accuracy. Jumping directly to modeling can result in irrelevant or unreliable forecasts. Option C: Conducting customer surveys can provide valuable insights, but it is an auxiliary step. Defining objectives and metrics first ensures that such surveys focus on relevant questions. Option D: Data visualization is a tool for interpretation, not for identifying or defining business problems. It comes into play after data is analyzed. Option E: Collecting new data is not always necessary at the problem-identification stage. Analysts should first leverage existing data to define KPIs and objectives.
The interest earned when a sum is invested at simple interest of 20% p.a., for 3 years, is Rs. 1500. What will be the total amount received after 2 year...
Compound interest received after 2 years on ₹7000 at R% rate of interest compounded annually is ₹1164.8. Find the value of R.
The difference between compound interest and simple interest at rate of 16% per annum for 2 years is Rs. 192. Find the simple interest obtained on same ...
Sunil invested Rs. ‘5x’ in scheme ‘A’ offering simple interest of 25% p.a. and reinvested the interest earned from scheme ‘A’ at the end of ...
Some amount out of Rs. 24000 was lent out at 10% per annum and the rest amount @ 16% per annum and thus in 5 years the total interest from both the amou...
If the compound interest on a certain sum of money for two years at 9% p.a. is ₹3,762, then the sum is:
Abhishek allocates Rs.1600 each into two different investment schemes, A and B. Scheme A provides simple interest annually at a rate of (R-2)%, while sc...
A man deposited Rs. 9000 at 10% compound interest, compounded annually while Rs. 8500 at 13% simple interest per annum. What will be the difference betw...
A principal amount of ₹5p grows to ₹(5p + 660) in 2 years at an annual interest rate of 20% compounded yearly. Determine the ...
A took a loan of Rs.5320 at simple interest of 20% p.a. and invested the same money in a scheme at simple interest of 30% p.a. Find the profit earned by...