Red Sky Farm Performance Analysis will provide users with the opportunity to benchmark their performance with other farmers in their own district as well as across districts and across countries. As soon as there is sufficient use of the software then every week the latest ‘Actual’ farm data will be included in the database and updated calculations of benchmark performance produced.
Then when you next dial-up a web connection to process some reports you will have the opportunity to select any of the benchmark data being produced by Red Sky or retrieve static benchmarks that have been produced.
Although you will need to agree to the inclusion of your data in the calculation of benchmarks through a licensing agreement when you first use Red Sky, there will be no opportunity for any other user to view your data unless you provide them with your unique Login Name and Password. Your data will be held in a secure server facility.
Benchmarks will only be produced if there are at least 6 sets of farm data within the group. As a result, to publish a ‘Top 10%’ benchmark there would need to be 60 sets of data in the group to ensure a minimum 6 sets made up the ‘Top 10%’. If there were at least 24 sets of data in the group then this would allow a ‘Top 25%’ benchmark to be calculated. Although it will take some time to gather sufficient data to produce a wide group of benchmarks, Red Sky will endeavour to publish some indicative benchmarks as these become available.
The primary benchmarks produced will be calculated on Return on Capital with variations to include Averages and Top 10%/Top 15%. These will be split for Farm Owners and Sharemilkers/Sharefarmers. Over time we will publish further benchmarks based on a range of other factors as our database increases and in response to your requests.
Under the Definitions & Data Entry tab there is a list of the most important Key Performance Indicators for each farming type and a description of how these are calculated.
When you first install Red Sky there are 4 sets of example data immediately available which represent a New Zealand dairy farm, an Australian dairy farm, a New Zealand 50:50 sharemilker/sharefarmer and a mixed sheep, beef and other farm.