Time to Value
IntermediateTime to value is the elapsed time from a user's first contact with a product to the first moment they reach an outcome defined as real value.
The metric is not computable until two explicit timestamps are chosen: a start event such as signup, and a value event that represents a real outcome for the user rather than the end of onboarding. That second choice is what gives the number its meaning; defining the value event as profile completion produces a small and empty figure, while defining it as the first published report produces a larger but defensible one. The common mistake is forgetting that the average is computed only over people who eventually reached value, so slow users who never arrived are excluded and a falling time to value can mean heavier drop-off rather than a better experience. Read it next to the share of users who reach the value event, never on its own.
How it is calculated
Time to value = median elapsed time between the start event and the first value event, per user
The denominator contains only users who recorded the value event, so the figure describes that group and not all signups. The unit is time, and the choice between minutes and days must stay fixed. Median is preferred over mean because a long tail of late arrivals shifts the average. Fix the cohort by start date and give it a full observation window, otherwise recent cohorts always look faster.