Metrics Explanations
Updated March 21, 2024.
Ellis harnesses the power of multiple data sources, each employing its unique methodology to calculate metric values.
From March 21, 2024 onwards Ellis calculation formulas have been aligned to reflect Shopify formulas as close as possible.
However, it's essential to acknowledge that occasional discrepancies in metrics may arise across different systems. These variations can be attributed to various factors, including:
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Approximations: To compensate for missing data points, we sometimes employ approximations. While we strive for accuracy, these approximations may introduce slight metric variations.
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Sales Tracking Limitations: Factors, like declined cookies, can affect the tracking of all sales, potentially leading to variations in metrics related to sales-related KPIs.
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Data Update Delays: Our data sources undergo periodic updates, resulting in temporary delays in reflecting the most recent data. Consequently, you may observe temporary discrepancies due to the lag between data updates.
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Currency Conversions: Ellis unifies currency conversions according daily rates, however underlying source systems might use different currency conversion mechanisms.
- Timezones: When combining data from multiple stores, Ellis calculates aggregated sales according Ellis master timezone to avoid false comparisons. Therefore daily sales and orders might differ from data available in Shopify.
If you have any concerns or questions regarding Ellis metrics and KPIs, our support team is always available to assist you.
Metrics Explanations in Dashboards
Metrics are explained in dashboard element tooltips (i).
Metrics and KPIs Explanation Summary
| Metric | Description | Formula |
| ABS | Average Basket Size shows the average number of products in the order. | total number of units sold / total number of orders |
| Ad Costs | Tax-free ad costs as reported by marketing channels. | |
| Ad Sales | Sales attributed to marketing channel or ad. | |
| AOV | Average Order Value | gross sales - discounts / total number of orders |
| Av. Sales Price | Average sales price of product | Product price + tax - discounts |
| Average Product Value | The Average Product Value (APV) is a metric that represents the average revenue generated per item sold. | total sales / total number of items ordered |
| CAC | The Customer Acquisition Cost (CAC) presents marketing costs / number of new customers. | marketing costs / number of new customers |
| CAR | The Checkout Abandonment Rate (CAR) presents number of abandoned checkouts per all checkouts. | number of abandoned checkouts / (number of completed purchases + number of abandoned checkouts) |
| COGS | Cost of Goods Sold | |
| Conversion Rate | The Session Conversion Rate | transactions / sessions |
| CTR | The Click Through Rate | |
| Discount Rate | Discount rate presents average discount rate. | total discounts / (total discounts + orders' total price) |
| Discounts | The monetery value of discounts. | |
| Duties | The total amount of duties based on the orders. | |
| GM1-% | GM1 is gross profit margin from products. | total revenues - GOGS |
| GM2-% | GM2 is gross profit margin GM1 - other expenses. | total revenues - GOGS - total expenses |
| GM3-% | GM3 is net profit margin minus all taxes and . | |
| Gross Profit | The total profit made on the product during the time period of the report. | net sales - product cost |
| Gross Sales | Gross sales | product price x quantity (before taxes, shipping, discounts, and returns) |
| Inventory Quantity | Inventory quantity of product(s). | |
| Net Quantity | Ordered Quantity - Returned Quantity | |
| Net Sales | Net sales | gross sales - discounts - refunds |
| Ordered Quantity | ||
| Orders | Number of orders | number of orders |
| Potential Sales | Calculated potential sales | Inventory Quantity * product price |
| Product Total Sales | Product price + tax - discounts | |
| Refunds | Product refunds, refunded monetary value | returns - fees (e.g. restocking) |
| Return Rate | orders with returns / total number of orders | |
| Returned Quantity | ||
| Returns | Monetary value of returns | returns (monetary value, price x quantity), not refunds |
| Revenue per Visitor | Revenue per Visitor defines sales generated per online store tracked sessions. | Shopify order total price / number of GA4 sessions. |
| ROAS | Return on Advertising Spend defines sales generated for each money spent on advertising, measuring the effectiveness of marketing investments. | ad sales / ad costs |
| Shipping Costs | Shipping cost of items | shipping charges - shipping discounts - refunded shipping amounts. |
| Tax | tax (monetary value) | |
| Tax Free Shipping Price | The shipping price is the amount charged to the customer for shipping services when they purchase a product. | Discounted Shipping Price - Shipping Tax |
| Total Sales |
Total Sales in Ellis is calculated similar to Shopify's total sales with exception that returns are associated to orders dates. This approach provides a more accurate representation of your actual sales and refunds for the selected time frame. Total sales may slightly differ also due currency conversion, or in case multiple stores connected from different timezones are connected to Ellis as daily sales is calculated according Ellis master timezone. This means if master timezone is set European timezones, US late hour sales will be seen as early next morning sales. |
gross sales - discounts - refunds + taxes + duties + shipping charges. |