Yes, that's a good one :)

There are zillions more such that can be done in Unix, of course, if one puts one's mind to it and experiments, even without spending a lot of time. Another simple one I use some is to define some environment variables to the value of long directory names to which I need to go often as part of some project. Then I can just do:

cd $short_name_for_that_dir

A shell alias can also be used instead.