Time to value measures how quickly a new user gets the benefit they came for. Shorter TTV usually correlates with better activation, lower churn, and higher word-of-mouth, every minute between sign-up and aha is a minute in which the user can drop off.
Reducing TTV typically involves stripping setup steps, providing pre-populated example data, or moving heavy configuration tasks behind progressive disclosure. In PLG products, TTV under five minutes is a common target.