21.3.2. Key KPIs

Try these first

1. 1.

   Define Conversion Rate.

   Hint

   Think about how many visitors become customers.

2. 2.

   What does AOV stand for?

   Hint

   It's related to how much revenue is made per order.

3. 3.

   What does Conversion Rate measure?

   • The number of orders
   • Percentage of completed purchases
   • Number of visitors

   Hint

   It's a key metric for evaluating the success of an E-commerce site.

4. 4.

   True or False: A low Patient Wait Time is always favorable.

   • True
   • False

   Hint

   Think about how waiting affects patient satisfaction.

5. 5.

   Given a site has 1000 visitors, with a Conversion Rate of 2%, how many purchases were made? Analyze how increasing this to 5% could impact revenue by retaining the AOV at $50.

   Hint

   Calculate the purchases at both rates initially before determining total revenue.

6. 6.

   In a healthcare setting, discuss strategies to reduce Patient Wait Times by 30% and analyze potential impacts on Patient Satisfaction Scores.

   Hint

   Consider practical steps and their effects on both staff and patients.