Percentile scores are statistical values that divide a set of data into equal parts. Each percentile represents a specific portion of the data set. Here's a breakdown:
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25th Percentile: Also known as the lower quartile, it cuts off the lowest 25% of the data. This means that 25% of the data points are less than or equal to this value.
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7th Percentile: Also known as the upper quartile, it marks the point below which 75% of the data falls. This means that 75% of the data points are less than or equal to this value, and the top 25% of the data is above it.
Calculation
Let's take an example: There are 8 properties in a PMC (Pr1 Pr2, Pr3, Pr4, Pr5, Pr6, Pr7, and Pr8) with average conversion rates of 25.0%, 30.0 %, 35.0%, 40.0%, 45.0%, 50.0%, 55.0%, and 60.0% respectively for the month of January.
- The 25th percentile value for this property distribution is 30.0%
- The 75th percentile value is 50.0%.
- The benchmark is 30.0% to 50.0%
- The performance of Pr2, Pr3, Pr4, Pr5 and Pr6 are satisfactory as they lie within the range.
- Performance of Pr1 is not satisfactory (25.0%<benchmark range)
- Pr7 and Pr8 are excelling. (55.0% and 60.0% > benchmark range)
Example
For example, let’s say the PMC benchmark for lead to toured conversion rate lies between 20.0% to 30.0%
Now, Lead to Toured ratio of:
- 25.0% is satisfactory for your property.
- 35.0% exceeds expectations.
- 15.0% is not satisfactory.