How do I see the NZ Benchmark Report
How do I see the NZ Benchmark Report
The Benchmark report is an exclusive report for Figured Insights users.
Why is the benchmark report not available for my dairy farm?
Why is the benchmark report not available for my dairy farm?
The Figured Benchmark Report is not available for enterprise-sized multi-farms and non-cow (sheep and goat) dairy farms. We also currently have a restriction on the farm's season end date, in that only May season end farms can run the Benchmark Report. In some instances a benchmark pool is not available due to a small sample size eg Contract Milkers. If you believe your farm should have access, please contact us via the green chat bubble in the app or email us at support@figured.com.
How is the 25% calculated?
How is the 25% calculated?
The Top 25% group represents the most financially efficient farms, ranked by Operating Surplus per kgMS. Top 25% will only be available for selection on the report if the sample size is big enough.
How do you decide what Benchmark pools are available?
How do you decide what Benchmark pools are available?
Benchmark pools are grouped by Region, Ownership type from your milk tracker (ie. Farm Owner + Sharemilker) and Milk Company Supplier. The benchmarks available will be determined by these settings on your farm. You can see the other available Benchmark groups under the "Change Benchmark" button on the top right of the report. Benchmark groups go from most detailed eg Waikato Fonterra Farm Owners, out to National Farm Owners for All Milk Suppliers.
Can I add multiple templates for my practice's Benchmark Report?
Can I add multiple templates for my practice's Benchmark Report?
Currently Figured provide a template that you can edit on farm but soon you will be able to create your practice's own benchmarking templates too.
How are the top 5 expenses in the bar graph determined?
How are the top 5 expenses in the bar graph determined?
The top 5 bar graph is based on the farm's top 5 expenses, not the benchmark's. This means the graph highlights the five largest expense categories specific to your farm, providing a clearer picture of where your costs are concentrated. Standard categorisation is used to categorise expenses, not the Farm's categorisation
Can I create my own Benchmark pools?
Can I create my own Benchmark pools?
You can create Benchmark pools using your practice's farm on the Insights platform. This Benchmark pool will only pull through to the Insights Report not Figured's National Benchmark Report.
Why doesn't my P&L match the Benchmark Report?
Why doesn't my P&L match the Benchmark Report?
The Benchmark report uses Figured Standard Categorisation not your Farm's categorisation so that we can standardise across farms.
How is the Execute Summary generated?
How is the Execute Summary generated?
Takes key data inputs from your report and uses Milk price data (current season and previous payouts) to generate an execute summary highlighting whats happening on your farm and how you compare to the Benchmark.