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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 major maize producing districts in Rajasthan are -
Which earthquake measuring scale is based on Earth's rigidity and the amount and area of slip on the fault?
Which of the following is not correctly matched?
Norman Borlaug was given Nobel Prize in which field?
Which of the following pairs of State and formation year is/are correct?
I. Nagaland - 1972
II. Uttarakhand - 2000
III. Arunachal Pradesh - 1987
A. his subjects wisely
B. was a very kind and generous
C. king who looked after
D. everyone said that he
Where has the Constitution Park been inaugurated in Rajasthan by President Draupadi Murmu?
Which blood cells are called 'Soldiers' of the body?
What is the range of the intensity scale used in measuring earthquakes?