The closed-won ratio is a metric that measures the number of sales opportunities that have been successfully converted into customers, divided by the total number of sales opportunities. In other words, it's a way to track how effective your sales team is at closing deals. A high closed-won ratio is a good sign that your sales team is efficient and effective. It can also be an indicator of a strong product or service offering. On the other hand, a low closed-won ratio could mean that your sales process needs some improvement.