benchmarking
Measuring against competitors
Benchmarking is measuring performance against a standard or competitor.
In business, companies benchmark their practices against industry leaders to identify gaps and improvements: We benchmarked our customer service response times against the top performers.
In computing, benchmarking tests hardware or software speed and efficiency.
The verb benchmark means to use something as a reference point for comparison.
Standards for assessment
- KPIsMeasurable performance benchmarks
- quantificationExpressing something numerically
- dataFacts for analysis
- precisionAccuracy of measurement
accuracy · scoring · rating · parameters · indicators · variables · statistics · instrumentation
Formal evaluation of worth
- auditFormal accounts examination
- reviewCritical written assessment
- appraisalEstimation of worth
- scorecardRecord of play
criteria · grading · judgment · feedback · quality · effectiveness · adequacy · examination
Systematic study of market opponents
- rankingOrdered position assignment
- side-by-sidePositioned next to another
- head-to-headIn direct confrontation
- peer groupSocial circle of equals
leaderboard · gap analysis · trade-offs · alternatives · strengths · weaknesses · outperform · underperform
Processing rate over time
- latencyDelay in system response
- speedRate of motion
- efficiencyProductive without waste
- scalabilityCapacity for growth
reliability · uptime · bottleneck · utilization · capacity · workload · execution · response time
Standard for comparison
- reference pointStandard for comparison
- yardstickThirty-six-inch ruler
- gold standardMeasure of ultimate quality
- criterionStandard for judgment
threshold · norm · specification · protocol · guideline · ISO · best practice · compliance
Object of pursuit
- goalDesired end result
- milestoneNotable event marking progress
- optimizationMaximizing efficiency or performance
- enhancementIncrease in quality
advancement · best-in-class · continuous improvement · action plan · roadmap · iteration · refinement · kaizen
metrics
Standards for assessment
- KPIsMeasurable performance benchmarks
- quantificationExpressing something numerically
- dataFacts for analysis
precision · accuracy · scoring · rating · parameters · indicators · variables · statistics · instrumentation · sampling
assessment
Formal evaluation of worth
scorecard · criteria · grading · judgment · feedback · quality · effectiveness · adequacy · examination · critique
competitive analysis
Systematic study of market opponents
- rankingOrdered position assignment
- side-by-sidePositioned next to another
- head-to-headIn direct confrontation
peer group · leaderboard · gap analysis · trade-offs · alternatives · strengths · weaknesses · outperform · underperform · market leader
throughput
Processing rate over time
- latencyDelay in system response
- speedRate of motion
- efficiencyProductive without waste
scalability · reliability · uptime · bottleneck · utilization · capacity · workload · execution · response time · load testing
baseline
Standard for comparison
- reference pointStandard for comparison
- yardstickThirty-six-inch ruler
- gold standardMeasure of ultimate quality
criterion · threshold · norm · specification · protocol · guideline · ISO · best practice · compliance · certification
target
Object of pursuit
- goalDesired end result
- milestoneNotable event marking progress
- optimizationMaximizing efficiency or performance
enhancement · advancement · best-in-class · continuous improvement · action plan · roadmap · iteration · refinement · kaizen · Six Sigma
- analysisanalyze, analysis, evaluate, data analysis, examine
- business termsfranchising, revenue stream, board meeting, gross margin, markdown
- computingcomputer, computers, software, hardware, code
- operationsoperation, operations, military operation, joint operation, workflow
- processingprocessing, batch processing, data processing, parallel processing, real-time processing
- productivityproductivity, checking off, prioritization, finishing, output
benchmarkingimprovisation
Spontaneous, unplanned creation
innovation · pioneering · trailblazing · going it alone · reinventing the wheel