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Benchmarking  Form

Benchmarking Form

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Instructions and help about Benchmarking

What is benchmarking? This video provides a definition of benchmarking, examples of benchmarking, and some advice on what to watch out for when performing a benchmarking study. What is benchmarking? My definition of benchmarking is: making meaningful comparisons to others, and identifying opportunities to improve. If you are the one doing a benchmarking study, then you need to decide what is meaningful, you need to decide what the peer group is that you want to compare to, and you need to dig into the drivers of the performance to find opportunities to improve. Very often, benchmarking is done to compare to others that are “best in class”, so benchmarking is often seen as a way to identify the current leader in a field, identify the gap with that leader, and take action to close the gap. There are many different areas where you can apply benchmarking. A good example is product benchmarking. If you are a product manager for pressure washers, or a consumer looking to buy a pressure w

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