Most farmers already compare, or benchmark, their performance informally, such as comparing milk yields with neighbours to give them ideas for improving their own performance.
Anything that can be measured can be benchmarked. This includes financial, technical (eg, yield), environmental and other farming elements.
The area, however, which can often help make the biggest improvement to a farm's bottom line is costs in relation to output. For many farmers being able to optimise these is the key to a thriving business.
Farmers can benchmark as part of an organised DairyCo Business Group, and/or opt to use Milkbench+, which is designed to compare a whole range of data with hundreds of other producers about everything from production to marketing and costs. These services are confidential and help farmers implement best practice and develop new techniques and, crucially, can help cut costs and increase profit.