
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.