This KPI assesses how many jobs you have gained from the estimates that you have given.
Example:
A) # of jobs from estimates = 262 B) # of estimates given = 304 C) Estimates Conversion Ratio = 0.86:1 (A ÷ B)
More often than not, this KPI is referred to as a ratio, but in terms of reporting format it is usually displayed as a percentage.
The measurement is exactly the same the only difference is that you multiply the result by 100 to convert the ratio into a percentage. It's really a matter of preference.
Example:
A) # of jobs from estimates = 262
B) # of estimates given = 304
C) Estimates Conversion Ratio = 86% (A ÷ B X 100)
Discussion:
In simplistic terms these examples show that for every estimate that you have provided, you have successfully converted 86% of them into jobs for your business.