Funnel analysis tracks user progression through a series of events in a specific process. It uses tools, such as funnel charts, to calculate key metrics, such as conversion rates. Data analysts and business staff use this information to improve a company's operations and marketing strategies.
For example, a user's shopping journey on an app can be broken down into several steps: searching for a product, browsing the product, adding it to the shopping cart, and making a payment. You can create a funnel with these steps to analyze the conversion rate at each step within a specified period, from the initial search to the final payment. The results are displayed in a funnel chart and a conversion rate trend line chart.
A funnel chart displays the deduplicated user count and the conversion rates between multiple steps.
Overall conversion rate = User count in the last step of the funnel ÷ User count in the first step
The sample funnel chart below shows the deduplicated user count and conversion rates for three steps: browsing a product, adding it to favorites, and purchasing it.
A conversion rate trend line chart displays the conversion rate of events in the process over a specific period.
The detailed data table shows the number of times the funnel events occurred on different device types. It also shows specific conversion data for the funnel.