The Benefits of Benchmarking
Benchmarking enables an organization to learn from the outside, and to develop relevant measures and implement company-specific solutions. On principle, a company may benefit directly as well as indirectly.
Direct Benefits of Benchmarking
· The company is analyzed.
· The companies or sections of companies are compared.
· Best practices are defined.
· Performance deficits are identified.
· Alternative solutions are evaluated.
Indirect Benefits of Benchmarking
· Promote an understanding of the own business processes.
· Question the objectives of the company.
· Verify the corporate strategy.
· Strengthen the competitive position.
· Initiate the process of continuous improvement
· Whether it’s for comparing the effectiveness of product lines or business units within your company, or the effectiveness of your company against close competitors, benchmarking is a vital continuous improvement tool. it’s safe to say that the average executive understands the benefits of benchmarking performance, that doesn’t necessarily, mean his or her company has ever participated in such an initiative.
Why Benchmark Your Site?
Comparing your site to a benchmark website can give you a better idea where your site’s performance stands in relation to other similar sized sites in the same industry. In the online world, staying competitive means having a website that loads quickly and provides a pleasant user