What does benchmarking mean?

benchmarking meaning in Insurance Dictionary

The work of contrasting a measurement to a typical. It demonstrates to you where you tend to be helping you choose for which you wish go.

benchmarking meaning in Law Dictionary

contrast of a firms organizational practices, services and products, offerings, and objectives along with other similar firms.

benchmarking meaning in Business Dictionary

a measurement regarding the quality of an organization's policies, items, programs, methods, etc., and their particular comparison with standard dimensions, or similar dimensions of their colleagues. The goals of benchmarking are (1) to find out what and in which improvements are called for, (2) to evaluate exactly how various other businesses achieve their powerful levels, and (3)to make use of this information to enhance overall performance.

benchmarking - German to English