What benchmark means?
1a : something that serves as a standard by which others may be measured or judged a stock whose performance is a benchmark against which other stocks can be measured. b : a point of reference from which measurements may be made.
What is benchmark Wikipedia?
From Simple English Wikipedia, the free encyclopedia. A benchmark is a standard, or set of standards, that a product can have to show a level of quality. It can also be a test that a person makes a product like a computer do to see how good it can do a task, or set of tasks.
How do I benchmark?
8 steps in the benchmarking process
- Select a subject to benchmark.
- Decide which organizations or companies you want to benchmark.
- Document your current processes.
- Collect and analyze data.
- Measure your performance against the data you’ve collected.
- Create a plan.
- Implement the changes.
- Repeat the process.
What is benchmark and its types?
There are four main types of benchmarking: internal, external, performance, and practice. Performance benchmarking involves gathering and comparing quantitative data (i.e., measures or key performance indicators). Performance benchmarking is usually the first step organizations take to identify performance gaps.
What are the five steps of benchmarking?
A Step-by-Step Approach to Benchmarking
- (1) Planning. Prior to engaging in benchmarking, it is imperative that corporate stakeholders identify the activities that need to be benchmarked.
- (2) Collection of Information.
- (3) Analysis of Data.
- (4) Implementation.
- (5) Monitoring.
What is benchmark results?
Dimensions typically measured are quality, time and cost. Benchmarking is used to measure performance using a specific indicator (cost per unit of measure, productivity per unit of measure, cycle time of x per unit of measure or defects per unit of measure) resulting in a metric of performance that is then compared to others.
What is a benchmark website?
Website benchmarking is basically the testing of an Internet site to help determine its effectiveness and performance. Poorly performing websites may affect how many visitors are able or willing to visit a website, and this fact can easily have negative consequences for a business.
What is benchmark tool?
Benchmarking tools are useful for diagnosing PC performance problems or quantifying a comparison between the performance of two machines. Given the usefulness of benchmarking software, it’s no surprise that there are countless benchmarking utilities available on the market. Here are five such utilities.
What is the etymology of benchmark?
Etymology . From bench + mark. Originally (attested circa 1842) a mark cut into a stone by land surveyors to secure a “bench” (from 19th century land surveying jargon, meaning a type of bracket), to mount measuring equipment. Figurative sense attested circa 1884. Noun . benchmark (plural benchmarks)
