For those firms with their figure below the industry averages, might have several weak spots within it, managers should start acting to change the situation, cause its not even better than half of the industry. However, attitude towards industry averages vary due to different situations and status of the business, it affected by some factors, such as size of the business. Thus managers and decision makers should consider more than just statistic. Study suggests that there are dramatic differences between small private and large public business's industry average ratios. Those differences appeared for every leverage ratios and mostly for activity, profitability ratios. For liquidity ratios there are no signs of difference, also some profitability ratios with various of expense ratios. Users needs to determine an appropriate industry average ratio when used for comparisons with their own data. Another potential problem for industry averages is the accuracy of the data used by individuals and organizations. The source of data information obtained by users can be complicated and hard to trace. Averages were calculated from large sets of database, thus there is possible error occurs, due to various factors such as human error ( incorrect inputs, error within the calculation process ) which sometimes can be unavoidable. However, for those well known websites and organizations, they will try to reduce the chance of errors by setting people responsible towards checking the data's accuracy and updates data presented to the users. Individuals and organizations can use data from websites of larger companies generally because it's more reliable, to reduce the chance of this kind of problem to occurs when using industry averages.