Processes
A telecom company compares its human error rates to aircraft maintenance benchmarks.Service Quality
An airline compares its first class customer service to luxury hotels and spas as opposed to direct competitors using quantified customer quality perceptions.Customer Service
A telecom company benchmarks customer satisfaction metrics against the IT services industry as opposed to other telecom companies.Reliability
A bicycle manufacturer benchmarks its product reliability against aircraft and high speed trains as opposed to other bicycles.Financial Metrics
An aspirational brand of electronics benchmarks its financial metrics such as gross margin against luxury fashion brands.Brand Recognition
A local gym benchmarks its brand recognition against local restaurants as that's the only data they can find.Sales
A home automation firm benchmarks its customer acquisition cost against solar panel installers as robust data is available.Overhead
A spa benchmarks its administrative overhead costs to the restaurant industry.Performance
A brand of luxury sports cars benchmarks its acceleration times against Formula One cars.| Overview: Functional Benchmarking | ||
Type | ||
Definition | The practice of comparing results across diverse industries and processes using functional commonalities. | |
Related Concepts | ||
