- noun the practice of measuring the performance of a company against the performance of other companies in the same sector. Benchmarking is also used widely in the information technology sector to measure the performance of computer-based information systems.
- A measurement and analysis process that compares practices, processes, and relevant measure to those of a selected basis of comparison (i.e., the benchmark) with the goal of improving performance. The comparison basis includes internal or external competitive or best practices, durations, resource quantities, etc.
- noun the testing of an audience’s response using a benchmark
- noun the process of comparing the performance of firms within an industry against a set of standards