IIRC, BMW farms-out it's code to Siemens technicians. This seems to be true of BMW, BMW Motorrad, and MINI.
I know that the consumption/range behavior in my '00 328i and my '04 MINI S are similar. By that I mean the percent variance between hand-calculated and reported MPG seems consistent. I've found that in those vehicles, zeroing-out the average speed and consumption each time I fill up allow both to report more accurate data.
My '12 MINI Countryman S and my '09 RT report much more accurately. However, I can still improve the accuracy by zeroing out the averages. Currently the difference between reported and actual MPG data is 2.3% optimistic in the '12 MINI and 1.5% optimistic in RT.
Recently, I remember reading that MPG was calculated by fuel flow (injector pulse width, I am assuming) and distance travelled. I have no explanation for the improvement in accuracy by zeroing-out average speed! However, I believe there is a "rolling" calculation used for average MPG, so zeroing that data out starts a more current series of rolling calculations. The implication there is a situation where MPG will more accurate if the speed/conditions for the whole tank are close to the same. However, if you reset the average MPG at fill-up and drive the first 150 miles conservatively on the slab and the last 50 miles in stop-and-go conditions, the average mileage (due to the "rolling" nature of the calculation) may be less accurate (in this hypothetical case, MPG would report lower than the actual average).
Also, here is a bit of insight into the "cruising range" and "Average fuel consuption" calculation as offered-up in the MINI Countryman manual. Note that the average consumption (in the Countryman, at least) is calculated based on the time the engine has been running. We know it doesn't zero-out when the engine is turned off, so it is constantly adjusting an MPG number which, perhaps, was NEVER zeroed out; the "lifetime MPG, if you will. Personally, I want the average to reflect the time the engine has been running ONLY since I filled up the tank!
Of course, what Siemens programs for the Countryman may be TOTALLY different from what they do for the RT, but I would bet that similar algorithms are used by Siemens in the RT (sans two of the four cylinders, of course!).