What is benchmarking analysis?

< 1 min read

Benchmarking analysis compares a company’s performance against industry standards, competitors, or best practices.
In one project, we compared our customer retention rate with industry averages to assess competitiveness.
Benchmarks can be internal (across regions or departments) or external (market leaders or published reports).
It helps identify performance gaps and improvement opportunities.
We analyzed KPIs like revenue growth, profit margin, and operational efficiency.
Benchmarking supports strategic planning and goal setting.
As a BA, I ensure comparisons are made using consistent definitions and metrics.
Overall, benchmarking provides context to evaluate how well the business is performing relative to others.

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