Data Analysis & Decision Making Flashcards
7 cards from real CFD practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Data Analysis & Decision Making flashcards as text
A florist's point-of-sale data reveals that customers who buy flowers for birthdays return on average 4.2 times per year. This metric is most useful for:
Answer: Designing a birthday reminder subscription or loyalty campaign
High repeat purchase frequency for birthdays makes subscription or reminder programs highly effective at capturing that predictable demand.
A floral shop wants to evaluate whether to add a new product line. The decision framework should prioritize which data first?
Answer: Gross margin, demand signals from existing customers, and storage requirements
Profitability, demonstrated demand, and operational feasibility form the core evidence base for a product expansion decision.
Monthly financial data shows that overhead costs grew 20% while revenue grew only 8%. Which action is most directly indicated by this trend?
Answer: Conduct a line-item overhead audit to identify and reduce controllable costs
When overhead outpaces revenue growth, a detailed audit identifies specific cost drivers that can be reduced or eliminated.
A designer reviews event data and finds corporate clients represent 15% of orders but 35% of total revenue. This data suggests:
Answer: Corporate clients should receive dedicated sales attention and service tiers
A disproportionately high revenue share justifies dedicated resources to retain and grow the corporate segment.
A florist uses a simple A/B test: half of email subscribers receive a 10% discount offer, the other half receive a 'free vase' offer. Open rates are equal, but the free-vase group converts at 18% versus 11% for the discount group. What should the florist conclude?
Answer: The free-vase offer is more effective and should be adopted as the primary promotion
A consistently higher conversion rate on the same open rate volume is sufficient evidence to favor the free-vase offer.
A floral designer tracks that the average cost to acquire a new customer is $28, while the average customer lifetime value is $210. What does this 7.5:1 ratio indicate?
Answer: The acquisition investment is generating strong returns and marketing spend can be increased
A lifetime value to acquisition cost ratio above 3:1 typically indicates healthy unit economics that justify increased marketing investment.
A florist's data shows that arrangement returns and replacements cost $1,800 annually, primarily tied to one perishable variety. The data-driven decision is to:
Answer: Replace that variety with a more reliable alternative and recalculate total cost savings
Substituting the problematic variety and measuring the resulting cost reduction validates the decision with concrete data.