Benchmarking establishes a standard measure by which your organization can be evaluated. Regularly scheduled benchmarks provide a point-to-point track record, for measuring performance and goals. Benchmarking provides a point of reference in a competitive environment, indicating how others are approaching the market and how customers perceive their alternatives.
With a solid point of reference, organizations can establish a starting point, correct perceived problems and build on strengths, tracking progress in key areas and readjusting plans to achieve goals.
Use Benchmarks to:
- Assess your performance from year to year, and help set performance goals
- Measure success or areas of improvement in performance goals
- Track your competitors performance and market position among consumers