KPI stands for the key performance indicator. It is a measurable indicator critical to strategic and operational improvement in your business. If you are unsure what a particular KPI means, you can simply hover over the “i” icon next to the KPI to view the explanation or formula below.
We categorise the KPI into Traffic, Engagement & Sales. We will go through each category one by one.
Traffic
| KPI | Formula | Implication |
| Passerby | The number of people that pass by your store | Reflects the popularity of the shop location |
| Footfall | The number of people that walk into your store | In general, higher footfall leads to high sales turnover |
| Zone Traffic | The number of visits in the specific zone | Determines the popularity of specific zone and exhibit what inside the zone that makes it popular |
| Engagement Count | The number of engaged visits in the specific zone | Shop operator needs to increase engagement count for attracting customer to spend |
| Walk-in Rate | Total footfall / (Total passerby + Total footfall) | Shop operator needs to increase walk-in rate as high as possible using different operational actions |
| Average Daily Footfall | Total footfall / Total number of days | In general, higher footfall leads to high sales turnover |
| Match-to-Traffic | Total footfall / Total number of salesperson | Whether or not sales floor has sufficient sales stuff to serve customer at certain period of operating hours |
Engagement
| KPI | Formula | Implication |
| Engagement Rate | Total engagement / Total zone traffic | Shop operator needs to increase the engagement rate as much as possible |
| Engagement Time Rate | Total engagement time / Total dwell time | Reflects how much time customers are engaged within the time staying in a given location |
| Average Engagement Time | Total engagement time / Total engagement count | Reflects the depth of customer engagement using the time measure |
| Average Dwell Time | Total dwell time / Total zone traffic | Reflects customer willingness to stay in a given location and implies possible consideration stage. |
Sales
| KPI | Formula | Implication |
| Conversion Rate | Total number of transaction / Total footfall | The higher the conversion rate, the more successful the store convert the footfall to sales, and vice versa |
| Engagement Conversion Rate | Total number of transaction / Total engagement count | The higher the engagement conversion rate, the more successful the store convert the engaged visits to sales, and vice versa |
| Average Value per Transaction | Total turnover / Total number of transactions | Store operator will increase AVT by selling more or selling higher price items or both |
| Average Sales per Footfall | Total turnover / Total footfall | The higher ASF, the more each visit is purchasing in terms of price and quantity |
| Average Sales per Engagement Count | Total turnover / Total engagement count | Reflect the sales from each engaged visit |
| Average Sales per Shopper Minute | Total turnover / Total dwell time | Correlates how long customers stay in a given location to increase sales turnover |
| Average Sales per Engagement Minute | Total turnover / Total engagement time | Correlates between sales turnover to engaged customer staying time |
If you are still unsure what a specific KPI means, please feel free to contact us at support@dayta.ai, and we are willing to explain it to you!
Related Questions:
- What is the KPI analysis based on?
- How to view KPI graphs?
- Why are some of my KPI data missing?
- Can I export my KPI analysis?
You may only view the KPI analysis page with an Advanced or Premium subscription plan. Learn more about the differences between each subscription plan here.