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Definition of benchmark noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
Benchmarking is a systematic process where a business measures its success against competitors to discover how to improve performance. The goal is to identify gaps, learn from the best, and make necessary improvements to achieve superior performance. In benchmarking, businesses compare metrics, processes, and practices to industry leaders ...
benchmark: 1 n a surveyor's mark on a permanent object of predetermined position and elevation used as a reference point Synonyms: bench mark Type of: point of reference , reference , reference point an indicator that orients you generally n a standard by which something can be measured or judged “his painting sets the benchmark of quality” ...
Quality Glossary Definition: Benchmarking. Benchmarking is defined as the process of measuring products, services, and processes against those of organizations known to be leaders in one or more aspects of their operations. Benchmarking provides necessary insights to help you understand how your organization compares with similar organizations ...
BENCHMARKING definition: 1. the act of measuring the quality of something by comparing it with something else of an accepted…. Learn more.
Mar 20, 2024 · Benchmarking Definition. Benchmarking is a strategy tool used to compare the performance of business processes and products with the best performances of other companies inside and outside the industry. Benchmarking is the search for industry best practices that lead to superior performance.
Benchmarking definition: the act or practice of measuring something against a standard, or of testing it in order to develop such a standard. See examples of BENCHMARKING used in a sentence.
