Beginning, I was confused about benchmark and benchmarking. I read concept of benchmarking in a lot of different field.
- In economic field: Key Performance Indicator ( KPI) such as GDP and economic indexes.
- In business field: Key Success Factors ( KSFS)
- In tax field: benchmarking can understood as using effective tax rate and deferred tax account to gain the objective in tax strategy and planning.
- In society: benchmarking as actions to achieve a desired society with specific measurements.
- In math: benchmarking is also adopt such as statistics
- In technology, benchmarking is a method for comparing a performance of an organization with best practice and tech application of others
- https://www.urenio.org/newventuretools/cba/methodology1.html#:~:text=Technology%20Benchmarking%20is%20a%20method,with%20that%20of%20others%20analysed.
I choose this website to introduce with you that relate to technology field.
However, I see the difference of benchmark and benchmarking
“Benchmarks are reference points or measurements used for comparison, usually with the connotation that the benchmark is a ‘good’ standard against which comparison can be made. Benchmarking is a process of finding good practice and of learning from others”
2 replies on “BENCHMARK”
Hi,
your post on benchmark is very informative and the websites that you provided are a great way to click on and learn more about benchmark, I also was very confused about benchmarks when I first read about it, but with the blogpost, I think I understand it a lot better.
In using benchmarks, what type of graphs would be best appropriate to apply the data to?
I do have a suggestion, images are a good way to explain texts, it allows the audience to interact more with the data.
I though that this was very interesting. I found out that sports us benchmark to compare seasons, other teams, and to transfer a player from one team to another.
Thanks for your comment.