Red Sky Farm Performance Analysis provides users with the opportunity to benchmark their performance with other farmers in their own district as well as across districts and across countries.
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.
The primary benchmarks produced will be calculated on Return on Capital with variations to include Averages and Top 10%/Top 15%.
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 is some 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.