Seeing conversion rate by Infer Rating can be a useful way to view the high-level performance of leads broken down by Infer Rating. The report looks like this:
The records where "Rating" is blank are ones that the reps convert to Opps before Infer has a chance to score them (these are generally leads that get converted within 1 hour of hitting your system).
To create this report:
Step 1: Go to Reports, select Leads, then create a Summary report with "Infer: Rating" as the summary field. You may need to make the "Infer: Rating" visible on the page layout view to access this field in the reporting tab.
Step 2: To get a summary view like shown above, just choose to hide details.
Step 3: To add the conversion rate formula, drag the "Add formula" field into the report builder, and use the syntax from the screenshot below. Make sure to set format to Percent, otherwise you'll get a syntax error. The formula is "CONVERTED:SUM/RowCount" for the formula.