How is data being calculated in the Benchmark Groups
IN THIS ARTICLE
What is a Benchmark Group?
A Benchmark Group is a group of companies, defined by the cohort characteristics, such as company size, yearly revenue, type of business or industry and the set of selected metrics from different sources.
What is a Benchmark?
A Benchmark is a set of statistics calculated for a given metric in a benchmark group.
Learn more how to access and view Benchmarks here.
How are Benchmarks Calculated?
IN THIS SECTION
We calculate benchmarks from anonymized data of Databox users. For private groups, we calculate the benchmark from data of invited and contributing members who match group characteristics.
The benchmarks visualizations consist of several statistics, presented on a Bar Line and a Hill Chart:
The Bar Line is a simple visualization that only shows the main statistics: lower bound (start of smaller bar), 1st quartile (start of larger bar), median, 3rd quartile (end of larger bar), and the upper bound (end of smaller bar). These statistics provide a rough estimate of the data’s distribution.
Users can quickly see how their company compares to other similar companies, and how close they are to be in the top 50% or 75%.
The Hill Chart visualization shows the main statistics: lower bound (start of the lighter colored area), 1st quartile (start of darker colored area), median, 3rd quartile (end of darker colored area), and the upper bound (end of the lighter colored area). These statistics provide a rough estimate of the data’s distribution.
The bounds of the graph are the same as in the Bar Line, but the additional benefit of the Hill Chart visualization is that it is higher in areas with more data and lower in areas with fewer data.
Mathematical calculations in Benchmarks
Let's explain the mathematical calculations in Benchmarks with a histogram.
On this visualization, we can see that data is being distributed into equally-spaced bins and the number of values in each bin is being counted. Next, the bars are drawn for each bin, where the height of the bar is proportional to the number of values in each bin. See a histogram on the image below as an example.
The black line represents the Hill Chart for the same underlying values as the histogram’s. The height of the Hill Chart shows us where the most of the values are. The higher the hill, the more values we can find in that area (the values are the metric values from our contributors).
Your value in a Benchmark
Your value is shown on the graph with a vertical line. This makes it easy for you to compare with the rest of the group, and quickly identify the metrics where you are one of the leaders and metrics where you can improve your company's performance.