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What is CRO?

What is CRO in SEO? Can anyone tell me about this?
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It is calculated as:
Conversion rate= Total Conversion (Goal) / Total website traffic
SEO is a procedure to upgrade the positions in SERP and to change over the greatest activity. CRO remains for change rate streamlining which intends to change over the movement going to the site.
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* Designers – Uses this method to optimize a client’s website with the main goal to maximize conversions.
* Business Owners – Consider this as part of an online marketing strategy.
* Visitors – Causes visitors to buy a product or service and/or promote an internet page to others.
SEO and CRO have three things in common: visitors, traffic generation, and results.
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