Enter the total cost and the value of the metric into the calculator to determine the cost per value.
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Cost Per Value Formula
The following equation is used to calculate the Cost Per Value.
CPValue = TC / V
- Where CPValue is the cost per value change ($/value)
- TC is the total cost ($)
- V is the change in the value being measured
To calculate the cost per value, divide the cost by the change in the value being measured.
What is a Cost Per Value?
Definition:
Cost per value is a metric that describes the cost to change the value of something by 1 unit. For example, if the value you are looking at is customer satisfaction, the cost per value would be the cost to increase the customer satisfaction by 1 point.
How to Calculate Cost Per Value?
Example Problem:
The following example outlines the steps and information needed to calculate Cost Per Value.
First, determine the total cost. In this example, the total cost is measured to be $750.00.
Next, determine the total change in value. This value in particular changed by 2 points.
Finally, calculate the cost per value using the formula above:
CPValue = TC / V
CPValue = $750.00/ 2
CPValue = $375/value