What you need to know about benchmarking

[nusaiba127]

: goals, objectives, types and methods
Benchmarking typically involves comparing a specific business with established players in the market and assessing what competitors have achieved, how they got there, and how they set up their operations.

The criteria assessed include the quality of the design product, business processes, production costs and a number of others.

At the same time, the analysis is not always limited to competitors: you vietnam consumer email list can study the experience of players from other industries and learn good ideas and practices from them.

The goals and objectives of such analysis
The most common goals of benchmarking are to become better by increasing one or more indicators, to strengthen positions among other companies, to differentiate from competitors, to redesign.

Globally, however, it all comes down to increasing revenue, optimizing costs, or entering new markets.

If you break this down into micro-goals, then when conducting benchmarking you will have to:

compare your performance with one or more competitors;

analyze other people’s experience, identify solutions that are relevant to your situation, and implement what is useful in your practice.