Fast Money: 3 Keys to Profiting from Improved Transaction Performance

Improving the speed of online customer transactions can lead to significant business outcomes, as demonstrated by examples from companies like Staples, Walmart, and Trainline, where enhancements in page-load times resulted in increased conversions and revenue. However, the pursuit of speed should not overshadow the importance of ensuring system availability and correctness, as even fast systems can fail if they are not reliable or produce errors. Businesses are encouraged to focus on optimizing customer experiences by identifying key customer journeys, assessing response-time sensitivity, and considering perceived load times. Measurement and observability are crucial in this process, with tools like New Relic providing comprehensive insights into both frontend and backend performance, helping companies to prioritize and address performance challenges effectively. While optimizing transaction speeds offers immediate benefits, embracing a customer-centric approach can uncover even greater opportunities for improvement.