Good morning.
I'm looking at website data. I have a list of visits to the site, bookings made on the site and conversion rate calculated using bookings/visits.
What is required is a a more scientific way of detecting whether there is a significant deviation in conversion rate on a particular day. i.e say yesterday, conversion dipped to 4.8% from 5.0% the previous day or 4.9% the previous week. are those deviations of 0.2%pt and 0.1%pt within a normal range and is 4.8% in general outside a typical daily rate.
What is the best way of approaching this and what calculation should I use to define what a standard deviation is for these metrics?
Cheers
Stephen
I'm looking at website data. I have a list of visits to the site, bookings made on the site and conversion rate calculated using bookings/visits.
What is required is a a more scientific way of detecting whether there is a significant deviation in conversion rate on a particular day. i.e say yesterday, conversion dipped to 4.8% from 5.0% the previous day or 4.9% the previous week. are those deviations of 0.2%pt and 0.1%pt within a normal range and is 4.8% in general outside a typical daily rate.
What is the best way of approaching this and what calculation should I use to define what a standard deviation is for these metrics?
Cheers
Stephen