Estimate Conversion Ration

Estimate Conversion Ration

# of Jobs from Estimates ÷ # of Estimates (x100)

Baseline: > 80%

Description:

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.

Related Terminology:

» Motor Retail Terminology and Concepts