What is benchmark? | Definition from TechTarget (2024)

FAQs

What is benchmark? | Definition from TechTarget? ›

The benchmark is the total context against which tester are measuring and comparing all products. A program specially designed to provide measurements for a particular operating system or application. A known and familiar product that users can use to compare other newer products.

In the process of best practice benchmarking, management identifies the best firms in their industry, or in another industry where similar processes exist, and compares the results and processes of those studied (the "targets") to one's own results and processes.

In computing, a benchmark is the act of running a computer program, a set of programs, or other operations, in order to assess the relative performance of an object, normally by running a number of standard tests and trials against it.

A benchmark focuses on individual students and their desired level of competency. This could be the passing score on a test or an assignment, or the description of the competent level on a rubric. PERFORMANCE TARGET.

The primary purpose of benchmark testing is to evaluate the performance of a product or system against established standards or benchmarks. It can allow you to determine the strengths and weaknesses of their products or systems and to identify areas for improvement.

Internal benchmarking compares performance, processes and practises against other parts of the business (e.g. Different teams, business units, groups or even individuals). For example, benchmarks could be used to compare processes in one retail store with those in another store in the same chain.

To determine benchmarks, you need to measure your work against something else. There are a variety of things you can set benchmarks against, including: Competitors. Comparing your work or desired results against your competitors shows you what's normal in the industry and what customers expect.

a. : something that serves as a standard by which others may be measured or judged. a stock whose performance is a benchmark against which other stocks can be measured. b. : a point of reference from which measurements may be made.

A benchmark is a standard that is used to measure the change in an asset's value or another metric over time. In investing, benchmarks are used as a reference point for the performance of securities, mutual funds, exchange-traded funds, portfolios, or other financial instruments.

What is the benchmark rate? ›

What Are Benchmark Rates and How Do They Work? Benchmark rates, such the prime rate, the Federal Open Market Committee's federal funds rate, and the Secured Overnight Financing Rate (SOFR), are rates that set the level of interest for a wide variety of transactions around the world.

Students are given remediation in their reports based on their incorrect answers. So even if they fail, they can get the help they need to get back on track.

For editing photos, video, or other digital content

We recommend a PCMark 10 Digital Content Creation score 3450 or higher. If you need a PC for complex rendering, real-time graphics, or gaming, we recommend using our popular 3DMark benchmark to measure and compare system performance.

This can help you identify areas where you shine and need improvement. Benchmarking has many benefits, including improving productivity, increasing efficiency, and gaining a competitive edge. Read on to learn more about benchmarking and how it can benefit your business.

Benchmarks are external references that show how others in your industry, market, or sector are performing on similar KPIs. Targets are internal goals that you set for yourself or your team based on your specific objectives, resources, and capabilities.

Benchmarking is a process that involves measuring the performance of your business against a competitor in the same market. This will give you a better understanding of your business performance and potential.

Financial Benchmark (health care): an established price for health care services; also known as a “target price" Quality Performance Benchmark (health care): an established standard of care provided to patients.

Benchmarking in Six Sigma involves a company analyzing its performance rather than measuring it against the standard set by the industry they work in or a world-class company in another industry. It typically focuses on processes and operations within one area of the company.