IndustryWatch is a tool provided at no charge to existing StatWatch customers. This service allows you to compare your wash's numbers to current industry averages and benchmark against your peers.
IndustryWatch is accessed by going to www.IndustryWatch.net and logging in using your StatWatch login information.
IndustryWatch is available to all StatWatch customers. IndustryWatch highlights are shown on each site's StatWatch Almanac tab, but this document describes the detailed information shown on www.IndustryWatch.net.
The SiteWatch 800 Index.
The SiteWatch 800 Index is similar to the Dow Jones Industrial Average, but it is specific to the carwash industry. This index summarizes the weekly health of a sampling of 800 carwashes around the country.
The 800 sites selected are the sites whose cars washed place them in the middle of a sample of all washes based on the percent change in cars washed versus the same week the prior year. Using the middle-performing organizations avoids skewing totals with sites whose cars washed are far outside the industry averages. Using the middle-performing sites also avoids skewing statistics based on volume-changing events such as road closings.
IndustryWatch was created to let users compare the health of their organization against the overall health of carwashes across the country. IndustryWatch data can be filtered by region and wash type to give customers the most accurate possible data to compare.
Industry: Compare your performance against nationwide industry averages.
Region:
Compare your performance against industry average for your geographic region. Note that in order for region-specific information to be shown, there must be at least 100 sites in the region.
Sites can also select the By Region option to see IndustryWatch data for each region in the US.
Wash Type: Compare your performance against industry average for your business type (e.g., full service, flex service). Note that in order for wash type-specific information to be shown, there must be at least 100 sites of that type in the sample.
Data from all StatWatch participants is combined anonymously to get the averages for the Industry. That data is also broken down by region and wash type as long as there are at least 100 sites per region or wash type in order to protect the anonymity of the sites in that region or wash type group. The values displayed are for the median site within the selected group.
That data is served up on the IndustryWatch web page for anyone to see, and compared specifically to the stats for your site, based on your login credentials. You can also see some basic IndustryWatch numbers in the StatWatch Almanac, and log into the IndustryWatch web site directly from there.
No additional configuration is needed. If you're using StatWatch, IndustryWatch is available free of charge.
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Bigger Picture |
Document Number: SW0358-0314 |
Last Updated: 06/05/15 |
For Version: StatWatch 2.4 |
Includes information from former doc: "IndustryWatch Information" (Sol doc # 31492-0613) |
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