What is AOV/AB?
The AOV (Average Order Value) is a metric used in e-commerce to measure the average value of orders placed by customers in a given period of time.
How is it calculated?
It is calculated by dividing the total revenue generated by the number of orders received.
For example, if an online store generates $10,000 in revenue from 500 orders in a month, the AOV for that month would be $20 ($10,000 / 500 = $20).
Where to find it?
In Quantic Factory, you can apply filters on dates or cohorts to gain more insights in too the AOV (order source, order rank, cohort…).
Depending on your industry and your product specificities, the average basket by order rank should increase over time. The #2 order average basket should be higher than the first order rank average basket, and so on.
You can see the AOVs by order rank in the Monthly activity overview dashboard and in most of our dashboards, except for the product-specific ones.