Benchmarking: What it is and how it can help your business

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Most companies at some point can be compared to other companies involved in the same field of work. To specify that comparison, these companies use some kind of benchmarking process. The benchmarking process helps to increase the competitive nature in different companies working in the same sector and provides a sense of awareness regarding the maintenance of quality and service. David T. Kearns, former director of Xerox Corporation, was one of the initiators of this concept bulk sms uae defined it as “ benchmarking the continuous process of measuring products, services and practices against tougher competitors or those companies recognized as leaders in the industry.” Now, we show you the 5 advantages that you get by implementing Benchmarking , based on your business:






benefits of benchmarking
Benchmarking is mainly used to assess the knowledge of the competition and also to gather the information based on the performance that was done throughout the development process of the product or the organization. With the help of this benchmarking process , we can evaluate and identify obstacles that help in improving and increasing our performance.



There are currently two types of benchmarking:I. Internal benchmarking:
It is the comparison of practices and performance made between teams or individuals within an organization.

II. External benchmarking:
It is the comparison of organizational performance between companies.

However, benchmarking is normally a process to see how competitors work or how they are able to achieve success and to find out this information, research, surveys and analysis of visits to a website are carried out.

Ways to collect data when benchmarking:Metrics Analysis:
Compare what your competition is doing and see if they can help you identify areas in which you can innovate, such as web positioning, social networks, frequency of shipments to customers, etc.