Petavue admins play a critical role in enabling their organizations to make informed, data-driven decisions. Petavue’s Definitions feature empowers Petavue admins to centralize and manage the business KPIs and terminologies that teams rely on for actionable insights. This document serves as a guide to understanding what Definitions are, the types of Definitions that can be created, and how to configure them effectively for your organization.
What Are Definitions in Petavue?
Definitions are the cornerstone of Petavue’s analytics engine, allowing admins to define, centralize, and manage metrics, lists, and views that organizations need to track and analyze. Definitions help Petavue with the following:
Understand the context of business data.
Generate insights that align with organizational goals.
Foster collaboration by ensuring consistency in how metrics and KPIs are calculated and understood.
Definitions act as a centralized repository, ensuring that everyone in the organization speaks the same data language. This alignment eliminates confusion and ensures that all teams rely on consistent methodologies to calculate metrics and KPIs.
Why Definitions Matter?
Petavue admins are responsible for bridging the gap between raw data and actionable insights. Petavue’s Definitions feature allows them to:
Enhance Contextual Understanding: Ensure the analytics system comprehends the nuances of business-specific metrics and KPIs.
Enable Accurate Insights: Provide teams with reliable and actionable data.
Improve Efficiency: Save time and effort by pre-configuring critical metrics, lists, and views.
Foster Collaboration: Align departments by centralizing and standardizing Definitions.
Types of Definitions
Petavue supports three primary types of Definitions. These can be customized to reflect the unique needs of an organization:
1. Metrics
Metrics are quantifiable measures that track and analyze specific aspects of business performance. These can be:
Individual Record Metrics: Values tied to individual records, such as the revenue of a single deal.
Aggregated Metrics: Summarized values, such as total revenue or average deal size.
Examples:
Definition Name | Description | Report Search Examples |
Sales Cycle Length
| Sales Cycle Length measures the time taken to close a deal, starting from the initial contact to the deal's closure. This helps businesses identify bottlenecks and optimize their sales processes.
| What is the sales cycle length of opps from the manufacturing industry for the last 6 months?
What is the sales cycle length for closed deals with annual subscriptions?
|
Renewal Rate
| Indicates the percentage of customers who renew their subscriptions or contracts at the end of their term.
| What is the current overall renewal rate?
Which product features or service offerings contribute most to higher renewal rates?
|
Time to Value (TTV)
| The time it takes for a customer to realize the first value of a product or service.
| What is the average Time to Value (TTV) for different market/customer segments?
What is the average Time to Value (TTV) for different products/services?
Which specific products or features have the shortest and longest TTV? |
Adoption Rate
| The adoption rate measures the percentage of customers who have adopted or started using a new product or service within a specified time period.
| What is the overall adoption rate for each product or service?
Which customer segments show the highest and lowest adoption rates for specific products or services?
Are there underutilized features or functionalities that could be promoted to increase overall usage?
|
License Utilization Rate
| The percentage of purchased licenses or seats that are actively being used.
| What is the current license utilization rate?
What percentage of purchased licenses are actively in use? |
2. Lists
Lists are dynamic collections of entities—such as accounts, opportunities, or customers—based on specific criteria or filters. They allow the segmentation of data for targeted analysis or reporting.
Examples:
Definition Name | Description | Sample Reports to Search |
Closed Won Opportunities
| A list of all opportunities marked as "closed won."
| How many opportunities have been closed/won in the ENT segment?
Show me the list of closed won opportunities last quarter by rep.
|
At-Risk Customers
| Customers flagged based on criteria indicating potential churn risk. | Show me the list of at-risk customers with upcoming renewals.
Show me the list of at-risk customers with low license utilization rate in the enterprise segment. |
Upsell Opportunities
| Opportunities that are marked as upsell under opportunity type. | How many upsell opportunities were lost in the last 3 months?
Show me the list of upsell opportunities. |
Book of Business | A Book of Business refers to the portfolio of accounts that an Account Manager or Client Success manager manages includes existing clients, that are currently doing business with the company. | What is the total revenue generated from John' Doe's book of business?
How many accounts in Dave's book of business are up for renewal in the next 90 days?
What is the retention rate of accounts within Emily's book of business? |
3. Views
Views provide curated summaries of essential information for specific entities, such as accounts or opportunities. They help users quickly access critical insights without diving into granular details.
Examples:
Definition Name | Description | Sample Reports to Search |
Account Summary
| A snapshot of key account details, including revenue, contacts, and open opportunities.
| Show me the account summary of at-risk accounts with upcoming renewals.
Show me the account summary for mid-market accounts in Dave’s book of business. |
Opportunity Summary
| Highlights critical information about opportunities, such as deal size, stage, and expected close date. | Show me the opportunity summary for upsell opportunities closed lost in Q1 2024.
Show me the opportunity summary of enterprise accounts scheduled to be closed in Q1 2025. |
How to think about Definitions for your Org
Creating effective Definitions requires thoughtful planning and a clear understanding of business objectives. Key best practices include:
1. Start with Business Goals
Identifying the key metrics, lists, and views that align with organizational goals is crucial. For instance, if reducing churn is a priority, focus on defining metrics like Customer Retention Rate and creating Lists for "At-Risk Customers."
2. Map to Data Structures
Ensuring that Definitions are tied to existing tables, columns, or calculated fields in data sources is essential. For example, Deal Velocity might draw from columns for deal creation dates, closure dates, and values.
3. Configure drill-down dimensions
Ensuring that Definitions are configured with appropriate drill-down dimensions allows business users to drill-down on the definitions to get deeper insights to fuel their decision-making.
3. Use Clear and Detailed Descriptions
Providing detailed, easily understood descriptions for each Definition ensures that all business users can grasp their purpose and methodology. This clarity promotes alignment across teams and eliminates ambiguity.
4. Leverage Filters and Criteria
When configuring Lists, applying filters to segment data effectively is important. For example, defining a List of "High-Value Accounts" by setting conditions such as ARR > $100,000 can be beneficial.
Key Considerations for Petavue Admins
When configuring Definitions, the following considerations are important:
Collaboration: Engaging stakeholders to understand their data needs and ensuring Definitions align with organizational objectives.
Scalability: Designing Definitions that can scale as the organization grows.
Validation: Regularly reviewing and validating Definitions to ensure accuracy and relevance.
Conclusion
Petavue’s Definitions feature is a powerful tool for turning raw data into actionable insights. By thoughtfully configuring Metrics, Lists, and Views, organizations can make smarter, faster decisions. Petavue admins, through their expertise in setting up Definitions, drive alignment, improve efficiency, and maximize the impact of their organization’s data strategy.
For more help, reach out to support@petavue.com