21.2.1. Common Jargon

Try these first

1. 1.

   What does AOV stand for?

   Hint

   Think about what AOV measures in the context of sales.

2. 2.

   Define SKU.

   Hint

   Consider how retailers identify their inventory.

3. 3.

   What is Cart Abandonment?

   • Complete purchase after adding items
   • Leave items in cart without purchase
   • Remove items from cart

   Hint

   Think about what happens to shopping carts.

4. 4.

   True or False: AOV is calculated by dividing total revenue by the number of orders.

   • True
   • False

   Hint

   Recall how you measure average purchases.

5. 5.

   An E-commerce site has a 70% Cart Abandonment Rate. Outline strategies they could employ to reduce this percentage and increase conversions.

   Hint

   Think about the user's journey and pain points during checkout.

6. 6.

   A hospital notices high No-Show Rates for appointments. What measures can be taken to improve patient attendance?

   Hint

   Consider how to engage patients proactively.