- What is the Benchmark Report?
- Where do I get my personalized report?
- When will the next Benchmark Report come out?
- What is benchmarking?
- Why is benchmarking important?
- How did you determine what businesses are like mine?
- How was the Average Ticket calculated?
- What is included in Completed Revenue?
- How was Install and Service determined?
- How is the Number of Techs determined?
- How was Primary Industry determined?
- Can anyone see my data?
- How did you determine the regions?
- Page 2 of my report has “INC” in some places. What does that mean?
- The Like You section on Page 2 of my Benchmark Report has a range for values for Average Ticket. Wha...
- For the Install-to-Service Revenue Ratio, what does the Like You metric represent?
- What states are in my region?
What is the Benchmark Report?
The Benchmark Report - powered by Titan Intelligence is personalized quarterly report available to all eligible ServiceTitan customers that provides an understanding of your business's position compared to businesses like yours. The report helps ServiceTitan contractors identify areas for growth, aligns your team towards common objectives, and strategically plan for future success.
Get deeper insights - Understand the current business environment and how it is affecting performance including market trends, economic indicators, weather, regulatory, talent, and supply chain issues. Know where you are relative to other ServiceTitan businesses similar to yours in terms of revenue growth and operational efficiency.
Make better business decisions - Identify performance gaps and opportunities to improve and take action on your own or with the help of Titan Advisor recommendations tailored just for you.
Optimize for top performance - Align your teams towards common objectives by providing clear benchmarks for success. Motivate and drive your company’s efforts towards achieving top performance or celebrate your own achievements if your ranking is high.
Where do I get my personalized report?
Download your Benchmark Report by going to Titan Advisor and clicking on the link just below your Titan Score.
When will the next Benchmark Report come out?
We just released 2023 Benchmark Report. Our next Benchmark Report will be released in Spring 2024.
What is benchmarking?
Benchmarking is the universal practice of measuring your key business metrics and comparing them against businesses like yours. The outputs are typically comparisons of average or percentile values against comparison groups on select metrics.
Why is benchmarking important?
Comparing your business to a like business lets you understand how you’re doing, identify performance gaps and opportunities to improve, and highlight peer achievements that you could emulate, or your own achievements to be celebrated.
How did you determine what businesses are like mine?
Our data scientists performed advanced analytics to determine and create groups that reflect similarity among descriptive factors. These factors included items such as business complexity, service mix, trade mix, business size, and climate zone.
How was the Average Ticket calculated?
Average Ticket = Total Job Average (average ticket across all completed jobs, including recalls, warranties and no-charge jobs). *this is the average for all jobs even if they didn’t generate any revenue
What is included in Completed Revenue?
Completed Revenue = revenue from completed jobs.
How was Install and Service determined?
Our data scientists performed advanced analytics to categorize jobs
as either Install or Service. Those jobs that have a high likelihood of being Install and had a ticket value of $100 or more, were classified as Install. Similarly, those jobs that had a high likelihood of being Service and a ticket value of $50 or more, were classified as Service. Some jobs could not be classified with a high probability of accuracy and remained unclassified for comparison.
*this definition was updated over prior versions to include a minimum threshold value. Previous versions had a threshold value of 0 for both install and service jobs
How is the Number of Techs determined?
The Number of Techs refers to the number of unique technicians that were assigned at least one job during the analysis period. For the Fall Benchmark Report, the analysis period refers to the months of July 2023, August 2023, and September 2023.
How was Primary Industry determined?
Primary Industry was determined by the type of industry that the majority of your revenue was classified into. Our data scientists performed advanced analytics to categorize your revenue during the analysis period and assign them an industry type. For the Fall Benchmark Report, the analysis period refers to the months of July 2023, August 2023, and September 2023.
Can anyone see my data?
No. Your data has been anonymized and aggregated.
How did you determine the regions?
Regions were determined by climate as defined by the governmental entity, NOAA. Climate regions geographically are located next to each other.
Page 2 of my report has “INC” in some places. What does that mean?
INC is an abbreviation for “incomplete.” It means that we had insufficient data to be able to provide this metric with good confidence.
The Like You section on Page 2 of my Benchmark Report has a range for values for Average Ticket. What does that range represent?
The range provided on Page 2 of your report represents the “good range” of values for the metric. It reflects the 20th-80th percentile of businesses like yours.
For the Install-to-Service Revenue Ratio, what does the Like You metric represent?
The Install-to-Service Revenue Ratio is an estimate of the install and service revenue split generated by your business. It is presented as “% Install Revenue: % Service Revenue.” The Like You metric reflects the 50th percentile of business like yours.
What states are in my region?
