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Retention Rate
Retention rate is a statistical measurement of the proportion of people that remain involved with a group from one time period to another. The concept is used in many contexts, including marketing, investment, education, employee management, research, and clinical trials. The exact definition depends on the context. As a general rule, high retention corresponds to a positive outcome. In marketing, retention rate count customers and their activity irrespective transactions they make. In a survey of nearly 200 senior marketing managers, 63 percent responded that they found the "retention rate" metric very useful.Farris, Paul W.; Neil T. Bendle; Phillip E. Pfeifer; David J. Reibstein (2010). ''Marketing Metrics: The Definitive Guide to Measuring Marketing Performance.'' Upper Saddle River, New Jersey: Pearson Education, Inc. . Content from this book used in this article has been licensed under Creative Commons Attribution Share Alike 3.0 and Gnu Free Documentation License and be m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statistics
Statistics (from German language, German: ', "description of a State (polity), state, a country") is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data. In applying statistics to a scientific, industrial, or social problem, it is conventional to begin with a statistical population or a statistical model to be studied. Populations can be diverse groups of people or objects such as "all people living in a country" or "every atom composing a crystal". Statistics deals with every aspect of data, including the planning of data collection in terms of the design of statistical survey, surveys and experimental design, experiments. When census data (comprising every member of the target population) cannot be collected, statisticians collect data by developing specific experiment designs and survey sample (statistics), samples. Representative sampling assures that inferences and conclusions can reasonably extend from the sample ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing
Marketing is the act of acquiring, satisfying and retaining customers. It is one of the primary components of Business administration, business management and commerce. Marketing is usually conducted by the seller, typically a retailer or manufacturer. Products can be marketed to other businesses (B2B Marketing, B2B) or directly to consumers (B2C). Sometimes tasks are contracted to dedicated marketing firms, like a Media agency, media, market research, or advertising agency. Sometimes, a trade association or government agency (such as the Agricultural Marketing Service) advertises on behalf of an entire industry or locality, often a specific type of food (e.g. Got Milk?), food from a specific area, or a city or region as a tourism destination. Market orientations are philosophies concerning the factors that should go into market planning. The marketing mix, which outlines the specifics of the product and how it will be sold, including the channels that will be used to adverti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customers
In sales, commerce, and economics, a customer (sometimes known as a client, buyer, or purchaser) is the recipient of a good, service, product, or an idea, obtained from a seller, vendor, or supplier via a financial transaction or an exchange for money or some other valuable consideration. Etymology and terminology Early societies relied on a gift economy based on favours. Later, as commerce developed, less permanent human relations were formed, depending more on transitory needs rather than enduring social desires. Customers are generally said to be the purchasers of goods and services, while clients are those who receive personalized advice and solutions. Although such distinctions have no contemporary semantic weight, agencies such as law firms, film studios, and health care providers tend to prefer '' client'', while grocery stores, banks, and restaurants tend to prefer ''customer'' instead. Client The term client is derived from Latin ''clients'' or ''care'' m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Transaction
A financial transaction is an Contract, agreement, or communication, between a buyer and seller to exchange goods, Service (economics), services, or assets for payment. Any transaction involves a change in the status of the finances of two or more businesses or individuals. A financial transaction always involves one or more financial asset, most commonly money or another valuable item such as gold or silver. There are many types of financial transactions. The most common type, purchases, occur when a good, service, or other commodity is sold to a consumer in exchange for money. Most purchases are made with cash payments, including Cash, physical currency, debit cards, or cheques. The other main form of payment is credit, which gives immediate access to funds in exchange for repayment at a later date. History There is no evidence to support the theory that ancient civilizations worked on systems of barter. Instead, most historians believe that ancient cultures worked on princi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Accountability Standards Board (MASB)
The Marketing Accountability Standards Board (MASB), authorized by the Marketing Accountability Foundation (MAF),MASB''Marketing Accountability Foundation (MAF)''.[cited 8 December 2010] is an independent, private sector, self-governing organization composed of academics and practitioners. Its primary goal is to establish marketing measurement and accountability standards that drive continuous improvement in financial performance and to provide guidance and education to users of performance and financial information.''MASB Mission''. [cited 8 December 2010] History The MASB was established in 2007 following recommendations from The Boardroom Project (2004–2007).[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
College
A college (Latin: ''collegium'') may be a tertiary educational institution (sometimes awarding degrees), part of a collegiate university, an institution offering vocational education, a further education institution, or a secondary school. In most of the world, a college may be a high school or secondary school, a college of further education, a training institution that awards trade qualifications, a higher-education provider that does not have university status (often without its own degree-awarding powers), or a constituent part of a university. In the United States, a college may offer undergraduate programs – either as an independent institution or as the undergraduate program of a university – or it may be a residential college of a university or a community college, referring to (primarily public) higher education institutions that aim to provide affordable and accessible education, usually limited to two-year associate degrees. The word "college" is g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
FAFSA
The Free Application for Federal Student Aid (FAFSA) is a form completed by current and prospective college students (undergraduate and Postgraduate education, graduate) in the United States to determine their eligibility for Student financial aid (United States), student financial aid. The FAFSA is different from CSS Profile (short for "College Scholarship Service Profile"), which is also required by some colleges (primarily private ones). The CSS is a fee-based product of the College Board (a private non-profit organization) and is used by the colleges to distribute their own institutional funds, rather than federal or state funding. Eligibility In order to receive federal student financial aid, students must meet the following criteria: * have maintained a Satisfactory Academic Progress (SAP); * be a U.S. citizen, a U.S. national, or an eligible non-citizen; * have a valid Social Security number; * have a high school diploma or GED; * have signed the certification stat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Undergraduate
Undergraduate education is education conducted after secondary education and before postgraduate education, usually in a college or university. It typically includes all postsecondary programs up to the level of a bachelor's degree. For example, in the United States, a student pursuing an associate or bachelor's degree is known as an ''undergraduate student'' while a student who has already obtained a bachelor's degree and is pursuing a higher degree (masters, doctorate) is a ''graduate student''. Upon completion of courses and other requirements of an undergraduate program, the student would earn the corresponding degree. In some other educational systems, undergraduate education is postsecondary education up to and including the level of a master's degree; this is the case for some science courses in Britain and some medicine courses in Europe. By country Africa Nigeria In Nigeria, undergraduate degrees (excluding Medicine, Medical Laboratory Science, Nursing, Engineering, L ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Retention
Customer retention refers to the ability of a company or product to retain its customers over some specified period. High customer retention means customers of the product or business tend to return to, continue to buy or in some other way not defect to another product or business, or to non-use entirely. Selling organizations generally attempt to reduce customer defections. Customer retention starts with the first contact an organization has with a customer and continues throughout the entire lifetime of a relationship and successful retention efforts take this entire lifecycle into account. A company's ability to attract and retain new customers is related not only to its product or services, but also to the way it services its existing customers, the value the customers actually perceive as a result of utilizing the solutions, and the reputation it creates within and across the marketplace. Successful customer retention involves more than giving the customer what they expect. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employee Retention
Employee retention is the ability of an organization to retain its employees and ensure sustainability. Employee retention can be represented by a simple statistic (for example, a retention rate of 80% usually indicates that an organization kept 80% of its employees in a given period). Employee retention is also the strategies employers use to try to retain the employees in their workforce. A distinction should be drawn between low-performing employees and top performers, and efforts to retain employees should be targeted at valuable, contributing employees. Employee turnover is a sign of deeper issues that have not been resolved, which may include low employee morale, absence of a clear career path, lack of recognition, poor employee-manager relationships or many other issues. A lack of job satisfaction and commitment to the organization can also cause an employee to withdraw and begin looking for other opportunities. Pay sometimes plays a smaller role in inducing turnover as i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Turnover (employment)
In human resources, turnover refers to the employees who leave an organization. The ''turnover rate'' is the percentage of the total workforce that leave over a given period. Organizations and industries typically measure turnover for a fiscal or calendar year. Reasons for leaving include termination (that is, involuntary turnover), retirement, death, transfers to other sections of the organization, and resignations.Trip, R. (n.d.). Turnover – State of Oklahoma Website. Retrieved from http://www.ok.gov/opm/documents/Employee%20Turnover%20Presentation.ppt External factors—such as financial pressures, work-family balance, or economic crises—may also contribute. Turnover rates may vary over time and across industries. If an employer has a higher turnover rate than its competitors, employees there generally have shorter average tenure than those in other companies within the same industry. High turnover can be particularly harmful to a company's productivity when skilled ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Student Retention
University student retention, sometimes referred to as persistence, is a process to improve student graduation rates and decrease a loss of tuition revenue via university programs. In United States Transfer rates Transfer rates are very high in the United States with 60% of all bachelor's degrees being awarded to students that began their college at another institution. Some transfers are planned; many community colleges have articulation agreements with four-year colleges. Other university systems are college-preparatory schools, which offer the first two years of the degree at a local campus with transfer into the flagship university in the junior year. Factors affecting persistence Grades Grades earned in a student's first semester are a strong predictor of student persistence. In a Budny longitudinal study of Purdue engineering students, it was shown that first semester GPA was a better predictor of retention than SAT scores. In the study, first semester engineeri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
