How it works

Comparing data from one company to similar companies provides context when reviewing company data. Questions and comments like "How much better or worse are we doing than our competitors?" "This doesn’t look so bad" or "What is doing on this performance measure?" are commonplace when reviewing data with managers that may contradict their perception or desired positioning. Benchmarking provides a relative data view and is accomplished through key steps.

looks_oneIdentify industry groups for logical comparisons

Discussions with leadership and professional experience can yield desired comparator groups whose performance on the same metrics best serves as guideposts for competitive or aspirational purposes.  Those may include:

• Same or similar industry
• Comparable company size (either revenue or number of employees)
• Same geographic region (e.g., US vs. EU vs Asia-Pacific, or U.S. state or metropolitan locality)