Conversion Funnel is a very important term used in web analytics and is widely used to measure the efficency of the site.
Wiki defines this as
"
Conversion funnel is a technical term used in e-commerce operations to describe the track a consumer takes through an Internet advertising or search system, navigating an e-commerce web site and finally converting to a sale."
Lot of web analystics use this for quantifying the website performance and calculate the conversion rate.
Key Markets coming out of recession
15 years ago