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Damned charming :)
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Is one way of looking of the determinant is its the area of the parallelogram formed by the vectors in 2 dimensions, the volume of the parallelpided in 3 dimensions etc. The sign of the determinant tells you something about the relative position of the vectors. This would make the diagonalisation process the transform that turns the parallelogram into a square, and the parallelpiped into a cube.