benchmarking

Definitions

Accounting

  • 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.

Computing

Construction

  • 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.

Marketing

  • noun the testing of an audience‚Äôs response using a benchmark

Travel

  • noun the process of comparing the performance of firms within an industry against a set of standards
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