Top Use Cases of Calculated Metrics

top-use-cases-of-calculated-metrics-1With calculated metrics, you can carry out basic calculations about your data within Google Analytics. This enables you to make more detailed and relevant analyses than you would otherwise be able to. Calculated metrics are available at the View level, rather than at the Property level like custom metrics. Per view, you receive five for a free account and 50 for a premium account.

Creating a New Calculated Metric

In your Google Analytics account, head to “Admin” and choose the view you want. Under the “View” column, and find “Calculated Metrics. Click “New Calculated Metric” and the following fields will appear:

  • Name — Give your calculated metric a descriptive name to ensure you’ll recognize it.
  • External Name — This is automatically populated according to what you add to the Name field. You can only change it during the creation stage. Bear in mind, it must be unique.
  • Formatting Type — In the menu, you will see the options: integer (with customizable decimal places), currency (decimal), time, float, and percentage (with customizable decimal places).
  • Formula — As soon as you start typing, predefined metrics appear that you can use to create your formula. Operators include: plus (+), minus (-), divided by (/), multiplied by (*), and positive cardinal numbers (0 - 9), including decimals. Formulas are limited to 1024 you have finished your calculated metric, click “Create.”

Use Cases

These use cases are a few top examples of calculated metrics that you may benefit from.

Average Engagement

Determine engagement by considering how long a user spends on a page. This will show you which pages are generating the most interest once visitors arrive at your site.

Formatting type: Time

Formula: {{Total Engaged Time}} / {{Page Views}}

Average Events Per Session

To receive a still better picture of engagement, look at average events per session. This has the added advantage of allowing you to track the limits of your Google Analytics account.

Formatting type: Float

Formula: {{Total Events}} / {{Sessions}}

Pageviews Per User

Another way to track the activity of users is to look at average pageviews.

Formatting type: Integer

Formula: {{Pageviews}} / {{Users}}

Non-Bounce Rate

Most likely, you are already tracking bounce rate, but the opposite is also important. To see it as an integer:

Formatting type: Integer

Formula: {{Sessions}} - {{Bounces}}

To see it as a percentage:

Formatting type: Percentage

Formula: ({{Sessions}} - {{Bounce}}) / {{Sessions}}

Revenue Per User

For a better idea of the value of your customers, see how much revenue you receive per user.

Formatting type: Currency (decimal)

Formula: {{Revenue}} / {{Users}}

Cost of Acquisition

To put revenue into context, you need to know how much you spend to acquire a customer.

Formatting type: Currency (decimal)

Formula: {{Cost}} / {{Revenue}}

Revenue After Refunds

Google Analytics provides you with an accurate total revenue in most cases. One exception, however, is when you need to include refunds in your calculation. There is a calculated metric to resolve this issue.

Formatting type: Currency (decimal)

Formula: {{Revenue}} - {{Refund Amount}}

Average Order Value Minus Shipping and Tax

Another way that numbers can be distorted is when order values don’t take into account additional expenses. To measure actual order value, you need to subtract shipping fees and tax.

Formatting type: Currency (decimal)

Formula: ({{Revenue}} - {{Delivery}} - {{Tax}}) / {{Transactions}}

Currency Conversion

When you have customers from different parts of the world, it can be difficult to make comparisons and calculations due to the mix of currencies. You can create a calculated metric to convert one currency into another. For instance, if you were converting EUR to USD on a day when the exchange rate was 1 EUR to 1.16 USD, the calculated metric would be the following:

Formatting type: Currency (decimal)

Formula: {{Revenue}} * 1.16

Subscription Revenue

If your business is based around subscriptions, it may be useful to know your subscription revenue. The calculated metric will work if you already have goals set up to measure new subscriptions and cancellations.

Formatting type: Currency (decimal)

Formula: {{New Subscription (Goal 1 Value)}} - {{Cancellation of Subscription (Goal 2 Value)}}

Average Cost Per Session

If you are using PPC ads, you need to know how much a session costs to determine the success of your campaign. Although CPC is useful, it can lead to inaccuracies when there are multiple sessions from the same user.

Formatting type: Currency (decimal)

Formula: {{Cost}} / {{Sessions}}

Once you have created your calculated metrics, you can apply them in custom reports by choosing the “Other” category in the drop-down menu. You can also apply them in Dashboard widgets.

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