Benchmarking is the process of comparing your performance metrics and KPIs against those of similar organizations in the same industry
What is Benchmarking?
Benchmarking is the process of comparing the performance metrics and KPIs of your business against those of others in your industry. This gives business leaders and teams a reference point when reviewing their metrics and determining where they are succeeding or where they may need to focus on improving.
Having this level of insight is crucial in order to refine business strategy, goals, and allocate resources and budget in an effort to improve or sustain specific metrics.
