This measure calculates the percentage of customers claiming to be satisfied (through customer feedback or surveys) across all products and services. It is a Process Efficiency measure that helps companies optimize their "measure customer satisfaction with products and services" process by minimizing waste and refining resource consumption.
Percentage of customers claiming to be satisfied
Process efficiency represents how well a process converts its inputs into outputs. A process that converts 100% of the inputs into outputs without waste is more efficient than one that converts a similar amount of inputs into fewer outputs.
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.