In a typical funnel, events must happen one after another, with a distinct timestamp, in order for users to count as converted through the funnel. However, there are a number of situations where events will not have a distinctly different timestamp.
Consider the following example from PetBox. Here, PetBox is trying to measure the conversion success of their product. They are measuring a user journey beginning with the event Subscribe, and ending with the event Purchase Product. However, Download App and Open App could happen so close to one another, such that they occur with the same timestamp.
Additionally, all events sent to Indicative via a data warehouse integration will often contain the same timestamp. Approximate conversion precision allows these events to be analyzed using the Funnel tool.
The default Funnel Conversion Precision is Sequential, meaning that events have to happen chronologically, with distinct timestamps for each user to count as converted through the funnel steps. However, for the reasons above, often those two events occur with the same timestamp. In order to account for scenarios like this, toggle to Approximate conversion precision. To switch between the two settings, select Settings in the menu bar, and then toggle between sequential and approximate in the conversion precision line.
Typically, each user in the funnel must complete each event in a chronological order, one after the other. In the example below, this means that Subscribe must happen before Create Profile, with a distinctly different timestamp. The same logic applies for each event that follows.
If you select approximate conversion precision, then each user in the funnel may complete each event in a chronological order, or simultaneously. In the example below, Subscribe can happen with the same timestamp as Create Profile, and this user will count as having converted between the two steps. The same logic applies for each event that follows.
The event timestamps are defined as the same if they occur within the same second. Meaning, if a user performs Subscribe and Create Profile at 00:00:00.99 and 00:00:01.00, then this user will not count as having converted. If a user performs Subscribe and Create Profile at 00:00:00.01 and 00:00:00.99, then this user will count as having converted.
Custom, joined and repeat events are supported in approximate conversion mode, but please note that there must be distinctly separate instances of each event for a user to count as converted.