Matrix--Not the Movie Franchise

A matrix is an important concept for entrepreneurs to know about. A matrix is simply a table or n rows by n columns. Mathematicians like them because they can be used for lots of interesting stuff most of which is beyond our ken.

A 2 x 2 table is a matrix. A spreadsheet of daily expenses and categories is a matrix. A chart comparing your company with your competitors across eight different criteria is a matrix. You can read more about them in any math book or on line.

Matrices are very helpful analytical tools even if we don't want to, or can't, do algebra or higher level math with them.

So when somebody says let's make a matrix don't panic. It just means he wants to make a table with more than one row and more than one column. You can deal with that. And see what he has in mind. It could be pretty interesting.

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