This measure calculates the average number of calendar days (including weekends) it takes to receive credit approval. It is a Cycle Time measure that helps companies analyze the duration of the "process customer credit" process from beginning to end.
Cycle time in days for credit approval
Cycle time is the total time from the beginning of the process to the end. This includes both time spent actually performing the process and time spent waiting to move forward.
The metric value which represents the 50th percentile of a peer group. This could also be communicated as the metric value where half of the peer group sample shows lower performance than the expressed metric value or half of the peer group sample shows higher performance than the expressed metric value.