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Definitions from the WebBenchmarkingDefinition: Benchmarking refers to the process of comparing the performance, practices, or characteristics of a product, service, or company against industry standards or competitors to identify best practices and improve performance. Sense 1 (Noun): a) The act or process of evaluating or measuring something against a standard or set of criteria. Example sentence: The company used benchmarking to assess their customer service performance compared to their top competitors. b) A standard or point of reference used for comparison. Example sentence: The industry's best practice for efficiency became our benchmarking target. Sense 2 (Verb): a) To evaluate or measure the performance or characteristics of something against a standard or set of criteria. Example sentence: The team benchmarked their new application's loading speed against similar apps in the market. b) To set a benchmark or standard for others to compare against. Example sentence: The company aims to benchmark their sustainability initiatives to inspire other businesses to make positive changes. Suggested Products: | ||||
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