Benchmarked Meaning: Definition, Examples, and Translations

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benchmarked

[หˆbษ›nสงmษ‘rkt ]

Definition

Context #1 | Verb

performance measurement

To benchmark means to evaluate or compare a process, product, or performance against a standard or set of best practices. This practice is often used in business and technology to assess efficiency, quality, and service against competitors or industry standards. By benchmarking, organizations can identify areas for improvement and establish targets for performance enhancement. It serves as a tool for continuous improvement and strategic planning.

Synonyms

assess, compare, evaluate, measure.

Examples of usage

  • The company benchmarked its sales performance against industry leaders.
  • They benchmarked their software's speed against competitor products.
  • Before implementing changes, we benchmarked our current output.
  • She benchmarked her marketing strategies to refine their effectiveness.

Translations

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Origin of 'benchmarked'

The term 'benchmark' originally referred to a mark made on a permanent object to indicate position or elevation, particularly in surveying. The word 'bench' comes from the Old French 'benche,' meaning a long seat or table, while 'mark' derives from the Old English 'mearc,' meaning boundary or sign. Over time, 'benchmark' evolved into a term used in various fields, including finance, manufacturing, and technology, emphasizing its role as a point of reference for performance measurement. The practice of benchmarking gained traction in the business world during the 1980s, highlighting the importance of continuous improvement and competitive analysis, encouraging companies to adopt best practices for enhanced performance.