Benchmarking: How to Measure the Community Health of Wine Businesses

Benchmarking.

Let me spend just a moment this week on the topic, and share the ways that it’s been developing as an offering within Enolytics.

Why is benchmarking valuable to wineries and suppliers?

For starters, it answers an essential question we hear often: How am I doing, in relation to my peers?

That’s a very key gauge of the health of a business.

Benchmarking also expands the reach of businesses who can benefit from data analytics and business intelligence.

It isn’t just the health of an individual business that we can see through benchmarking. It’s the health of a community of businesses.

Usually we work with individual wineries and suppliers, pulling their data on a regular basis (daily and monthly, that is) then visualizing it so that it’s easy to see the results.

As we continue to onboard new wineries and suppliers, our “warehouse” of data grows, making it easier and more accurate to assess the health of a relevant community of businesses.

The data is already there, it’s already being collected. So there are no surveys to complete or additional “asks” of the wineries. It can be de-identified, aggregated, and studied altogether.

Who benefits from benchmarking that kind of data, at that kind of scale?

Trade associations. Member organizations like AVAs and “umbrella groups” of wineries and suppliers. Financial services companies.

To name a few.

We can see the roadmap ahead of us on this, and we’re incredibly excited about the potential to help the industry to grow and benefit from data analysis.

Any thoughts or ideas from your side? I’d be psyched to hear.

Thank you, as always, for reading.

Cathy