The time required for the information on a webpage to be fully displayed on a particular website is called the Page Load Time. You can also describe Page Load Time as "Page Speed," a measure of how quickly your page gets loaded.
As Google defines it, "The Site Speed reports show how quickly users are able to see and interact with content. You can identify areas that need improvement, and then track the extent of those improvements".
The Site Speed reports measure three aspects of latency:
1. Page-load time on your website for a sample of page views. To see how fast your websites loaded from a multitude of angles (e.g. in distinct browsers, in different nations) you can display the information across distinct sizes.
2. Running speed or loading time of any specific hit, occurrence, or user interaction which you want to monitor (e.g. how rapidly pictures are loaded, button clicking response time).
3. How fast the browser parses the document and makes it accessible to interact with the customer. For viewing this information, no extra setup is needed.
You can test your web site speed with Google's PageSpeed Insights.
First Impression: If your website loads quickly, you will have created a powerful first impression immediately. It's a user experience quick-win! If it loads quickly, your fresh guest will be pleased instantly. The good customer experience at the beginning of a user's journey will lead to an increase in conversions.
Slow Page Loads kill Conversion Rates: Customers want speed! According to the latest research, 40% of users who newly clicked onyour website will get frustrated and leave completely if your page loads in longer than 3 seconds.
Google loves speedy pages: When rating pages, Google considers website load speed when ranking websites (announced in 2010). But get this, if your servers are slower than 2 seconds, Google simply reduces the number of web crawlers it sends to your site.
Google determines a good load speed as 2-3 seconds. Otherwise, 40% of your visitors will get bored of waiting for your page to load, and leave instantly.