Question
A financial organization is aiming to reduce operational
costs by analyzing transactional data to identify inefficiencies. Which of the following roles should a data analyst primarily adopt in this scenario?Solution
A data analyst in this context would be acting as a "Problem Solver." This role involves identifying and diagnosing inefficiencies within the transactional data and providing actionable insights to streamline operations. By focusing on problem-solving, the analyst can leverage data-driven methods to highlight cost-saving opportunities and recommend strategies to eliminate bottlenecks. Unlike merely generating reports or performing statistical analysis, problem-solving encompasses identifying patterns and developing insights that directly address the organization's business challenge. Effective problem-solving requires a blend of technical skills, business acumen, and strategic thinking. The other options are incorrect because: • Data Modeler focuses primarily on structuring and organizing data without necessarily addressing operational inefficiencies. • Report Generator implies generating static reports, which is too limited in scope for actively reducing costs. • Statistical Consultant emphasizes advising on statistical methodologies, not specifically solving operational inefficiencies. • System Administrator pertains to maintaining IT systems, not data analysis.
A rightward shift in supply curve indicates
When AR is constant, MR is
A high value of cross-elasticity indicates that the two commodities are
Statement “Price is the amount of money and/or other item with utility needed to acquire a product" is given byÂ
A movement along a demand curve indicates that a different quantity is being demanded
This movement is due to
Elasticity of demand is based on which of the following factors?
Pricing decision includes
Market with one buyer and one seller is called
The goods whose demand is not tied with the demand for some other goods are said to haveÂ
Which one of these is an exception to the law of demand?