Research funder Dairy Insight awards Reel Two contracts to supply software for a new national dairy industry database and supporting systems
Mar 18, 2005
Software company to create tools for industry-wide dairy data
Research funder Dairy Insight says Hamilton company Reel Two has been awarded contracts to supply software for a new national dairy industry database and supporting systems.
"Reel Two have the relevant statistics and data mining expertise, as well as experience in agricultural benchmarking software, to get the job done," Dairy Insight investment manager Rebecca Austin said.
The information produced would help dairy farmers and rural professionals, such as accountants and farm consultants, evaluate business performance.
"It will improve their business management and profitability," Ms Austin said in a statement.
The dairy industry at present had a fragmented approach, with inconsistencies in the calculation of "key performance indicators" - financial measurements. A small number of databases operated independently, preventing useful comparison on a national and regional basis.
The project was seeking standardised financial performance indicators with capacity for accountants and managers to produce annual reports comparing the performance of individual farms.
It was also aiming for the establishment of a national dairy industry database, so that farmers and accountants and other advisers could measure business performance against industry "best practice".
A national database would also improve economic surveys and industry reporting with statistics able to be drawn from farm financial data on accountants' computers.