What is Benchmarking and Why is it Important?

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Writer
Pinar Keles
Updated Date
March 07, 2024
Reading Time
Read in 4 minutes
Benchmarking, which means comparison in Turkish, is an application that includes the search, acquisition, comparison of information that businesses undertake to find the most accurate and best at any time or place in order to increase their level of success, and the results and determinations reached as a result. In our article, you can learn about how armenia whatsapp data benchmarking is done , types of benchmarking , etc.


What is Benchmarking and Why is it Important?



What is Benchmarking?

Benchmarking means comparison in Turkish. The benchmarking technique, which is frequently used in corporate life, is defined as the process of measuring the products, services and processes of organizations known to be leaders in one or more areas of their operations. Benchmarking allows companies to compare themselves with similar organizations, even if they are in a different business or have a different customer group. Benchmarking also helps businesses identify areas, systems or processes for improvement.


What is Benchmarking?



What are the Types of Benchmarking?

There are two types of benchmarking. These are; technical benchmarking and competitive benchmarking. When we say types of benchmarking ; technical benchmarking is one of them. It is a type of benchmarking performed by design personnel to determine the capabilities of the products or services of leading competitors. When we say competitive benchmarking, it is a type of benchmarking that compares how good or bad an organization is compared to leading competition, especially in terms of critical qualities, functions or values ​​related to the company's products or services.


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What are the Types of Benchmarking?