CBDA practice question 6 of 25

A financial software company has growth and expansion as one of their top strategic priorities for the year. The senior executive team would like to…

A financial software company has growth and expansion as one of their top strategic priorities for the year. The senior executive team would like to assess their sales performance over the last 3 years to help set sales objectives. In discussion with the business analytics manager, for a comprehensive sales report, the sales lead recommends looking into the number of contracts signed over the past 3 years and the dollar value for the signed contracts. Which other question is important to consider when evaluating sales performance?

Answer options

A: What is the time to market the software?

B: What is the total cost incurred per year?

C: What is the number of customers retained over the past 3 years?

D: What is the average time for conversion? Correct answer

Correct Answer:

D. What is the average time for conversion?

Explanation

The average time for conversion is the average number of days it takes to convert a lead into a customer. This is an important question to consider when evaluating sales performance, because it indicates the efficiency and effectiveness of the sales process. A shorter time for conversion means that the sales team can close more deals in less time, and thus increase the revenue and profitability of the company. A longer time for conversion may indicate that there are bottlenecks, challenges, or inefficiencies in the sales process that need to be addressed. Reference: • Business Analysis Certification in Data Analytics, CBDA | IIBA®, CBDA Competencies, Domain 5: Use Results to Influence Business Decision Making • Understanding the Guide to Business Data Analytics, page 9

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