Analyzing funnel correlation

Correlation compares two groups of people who entered a funnel: people who completed the last step (success) and people who did not (failure). For each candidate event or property value, build a contingency table and compute the odds ratio. An odds ratio above 1 means the signal goes with conversion. Below 1 means it goes with drop-off. The further the ratio is from 1, the stronger the correlation.

Correlation is not causation. Tell the user that, and suggest an experiment to test a strong signal.

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