What is the difference between benchmarking using industry analysis compared to peer group analysis?

Industry ratios are readily available publicly but peer group ratios need to be constructed by management based on

similarities including size and lines of business.

All databases like Dun & Bradstreet and Standard & Poor that compute industry ratios and peer group ratios compute the

ratios differently.

The types of ratios computed for a peer group of firms is different than those for the industry.

Some financial ratios for industry groups are readily available and so are preferential to peer group analysis.