Algolia's analytics dashboard calculates the Conversion Rate (CVR) / Click-Through Rate (CTR) for a given time period with the following formula:

*CVR = Tracked Searches That Have Led To A Conversion ÷ Total Tracked Searches*

*CTR = Tracked Searches That Have Led To At Least One Click ÷ Total Tracked Searches*

*Tracked searches are searches where *clickAnalytics=true*

To provide an example, let's say we have the following scenario:

- Day 1: 5 conversions out of 10 total tracked searches
- Day 2: 4 conversions out of 5 total tracked searches
- Day 3: 2 conversions out of 20 total tracked searches

If we were to take the average of each daily CVR (*(50% + 80% + 10%) ÷ 3*), we have a 46.67% conversion rate.

If we use the method from Algolia's analytics dashboard (*11 conversions ÷ 35 total tracked searches*), we have a 31.43% conversion rate.

This essentially safeguards against giving too much "weight" to days that might have very high or low CVR/CTR but not as many tracked searches. The formula over the total period provides a more representative metric for most use cases