There are a few kinds of bench marks used when comparing data. Internal is when a company may use information from past years and all within the companies data to compare to itself. Then their external bench marks that look at other sources for data and compare it to their own. What is a bench mark? A bench marks is basically an average score of data and seeing what sources have hit that average and what hasn’t. Like you can see below.
The gray bars are the average while the red is how that company actually did. This is a clear view of what could have been projected for the company and let viewers see if the company did good or bad that year.