Business Metrics

Role Access: Admin, Auditor, and Support

Overview

Business Metrics provide high-level insights into the performance of workflows, helping you understand overall effectiveness. The metrics include conversion rate, approval rate, automation rate, and more. Funnel analytics display all possible end states along with their respective counts.

You can apply the following filters to customize your business metrics view:

Date Range: Select a predefined date range or manually choose a date range from the calendar. (Note: Ensure there are no limits for date selection.)
Client ID (Optional): Choose a specific client ID if you have multiple.
App ID: Select a specific app ID (application identifier) if multiple are available.
Workflow ID: Filter by a specific workflow ID or select "All workflows" to view all at once.
Apply: Click this button to load analytics based on the selected filters.
Refresh: Reload the page to display the latest applications and data.

Funnel Overview

Understanding Application Statuses

The funnel overview provides a concise summary and visual representation of the final application status for all transactions. For more details on HyperVerge's application statuses, please refer to the Applications page.

Overall Metrics

Conversion Rate: The proportion of users who were approved out of all unique users who initiated the verification process.
It is calculated as:
```
Conversion Rate =(Manually Approved Users + Auto Approved Users) / Unique Users
```
Auto Approval Rate: The proportion of users who were auto-approved compared to all users who completed the verification process.
It is calculated as:
```
Auto Approval Rate = Auto Approved / (Auto Approved + Auto Rejected + Manual Review)
```
Automation Rate: The proportion of users who were processed automatically compared to all users who completed the process.
It is calculated as:
```
Automation Rate = (Auto Approved + Auto Rejected) / (Auto Approved + Auto Rejected + Manual Review)
```
Onboarding Time (Beta): The median time required for users to complete their KYC journey. It means that half the users took more time and the other half took less time than this value.

Top Reasons: Categories and Their Flags

This section displays the primary reasons for final unsuccessful outcomes, such as why applications are flagged for manual review, automatically rejected, or encounter errors. The top reasons are calculated based on their contribution to the overall category in percentage terms, ordered in descending order.

Formula for Calculating Percentages:

(Number of occurrences of reason ‘x’ in a particular module / Total number of reasons) × 100

Comparison Mode

Comparison Mode allows you to compare the performance of two funnels based on different filters. Use this mode to analyze two different workflows, or the same workflow over different time periods, and other filter combinations.

Key Features

High-Level Insights: Provides metrics to understand overall workflow performance.
Customizable Filters: Allows filtering by date range, client ID, app ID, and workflow ID for tailored analytics.
Detailed Funnel Analysis: Displays all possible end states and their counts, aiding in understanding application statuses.
Comprehensive Metrics: Tracks conversion rates, auto approval rates, and more for in-depth analysis.
Error and Review Tracking: Highlights reasons for errors and manual review flags, assisting in process optimization.
Comparison Mode: Facilitates the comparison of different workflows or time periods for better performance analysis.

Overview​

Filter Options​

Funnel Overview​

Understanding Application Statuses​

Overall Metrics​

Top Reasons: Categories and Their Flags​

Formula for Calculating Percentages:​

Categories:​

Comparison Mode​

Key Features​