Benchmarking
The term benchmarking refers to the comparison of results and work processes of a company, department or office with other exceptional businesses, departments or offices. Improvements, optimisations and saving potentials are determined by using benchmarking analyses.
They can be conducted internally within a company, internally within an industry (as difference to the competition), spanning various industries (as difference to the overall best practise), nationally or internationally.
See also:
Competitor analysis
