Khalid J. conversion rates first, then stall patterns to explain why โ both together tell a cleaner story than either alone.
The highest-friction stage usually shows up when you overlay stage-to-stage conversion with average time-in-stage. Low conversion + long dwell = your bottleneck. Nine times out of ten, it's either a qualification problem that got kicked down the funnel, or a stage with no real exit criteria, so deals just... sit there.
In my experience, it tends to live between demo and proposal. Deals that probably shouldn't have gotten that far, and nobody wants to be the one to call it.