Conversion Rates

Conversion rates measure the ratio of entities which enter a funnel to those which fully complete the funnel. The funnel and associated configuration works the same way as a basic funnel analysis.

Conversion rates are measured over time, with each time grain representing the overall conversion rate for entities which entered the funnel during that time bucket. Hashboard will re-evaluate a given entity for each time bucket. This means user1 might count toward the conversion rate once in January and once in February, if they entered the funnel in both months.

Funnels crossing between time grains

An entity may enter a funnel in one time bucket, and then complete the funnel in another bucket. For example, a entity could begin on January 28th and end on February 2nd. Conversions are grouped by their start time-frame, so this would count as a conversion for January.

These calculations respect the time limit settings in the funnel configuration. This setting is applied independently from the granularity of the rate calculation. Using the example above, if the time limit was 2 days, the user would not count as converted, since February 2nd is more than 2 days after January 28th.

Complete example

The following diagram outlines a complete example of how a daily conversion rate is computed.