The rate at which employees leave a company and are replaced by new hires, often used as a measure of organizational health and stability. Essential for understanding workforce dynamics and designing strategies to improve employee retention.
A cognitive bias where individuals overestimate the accuracy of their judgments, especially when they have a lot of information. Important for understanding and mitigating overconfidence in user decision-making.
The speed at which leads move through the sales funnel. Crucial for understanding and optimizing the sales process.
The loss of customers over a specific period, also known as customer churn. Important for understanding and addressing customer retention issues.
Click-Through Rate (CTR) measures the percentage of users who click on a specific link out of the total users who view a page, email, or advertisement. This metric is important for assessing the effectiveness of digital marketing campaigns and user engagement.
The percentage of email recipients who open a given email. Important for measuring the effectiveness of email marketing campaigns.
The percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.
Key Performance Indicators (KPIs) are quantifiable measures used to evaluate the success of an organization, employee, or project in meeting objectives for performance. Essential for tracking progress, making informed decisions, and aligning efforts with strategic goals across various business functions, including product design and development.
A cognitive bias where people ignore the relevance of sample size in making judgments, often leading to erroneous conclusions. Crucial for designers to account for appropriate sample sizes in research and analysis.
A method of splitting a dataset into two subsets: one for training a model and another for testing its performance. Fundamental for developing and evaluating machine learning models in digital product design.