ReincarnatedSaint sorry for the late response. My understanding of how this works:
Take your book page views and divide it by the number of your total collections.
Example
- Views 10K
- Collection adds 100
10000/100= 100
The ratio would be 100:1
Loosely put, 100 views per collection add.
This was the best stat we had to determine read interest on our books before the dashboards (that's still wonky). Having said that, it didn't factor out scrapper bot views.
As Chryiss has mentioned before. The ideal ratio is anything under the hundreds. So a ratio of 1:50 is better than 1:500. Loosely speaking, it means for every 50 views of the book page, a peep has added the book to their library.