Varieties of Benchmarking Indicators

Different organizations may have different indicators; however, all must have the same characteristic of being measured. There are many indicators to choose from depending upon the goals prefixed by the organization. Some examples are overheads; Satisfaction index, complaints, overtime, etc are some of the common indicators used by many organizations.

Benchmarking actually measures certain performance to find out how a certain business is faring. It aims to find out how your performance is rated and compared to others. In short, it is a must for a benchmark to be credible. Good business practice is to do benchmarking with indicators to find out how to improve your business and maximize its profit potential.

Good content piece. Benchmarking indicator plays a vital role in increasing the business profit. It will help you to plan your business according to the the industry demands. A benchmark (baseline) establishes the point from which measurements can be made. Indicators identify what will be measured. Benchmarking Indicators help in finding out whether the efforts are bringing about desired results.