Plz guys tell me what is benchtrending and how it differ from Benchmarking?
Sunil Gupta (Service) (181 Points)
17 February 2010Plz guys tell me what is benchtrending and how it differ from Benchmarking?
Pavan Daga
(business)
(125 Points)
Replied 17 February 2010
Bench Marking is -
Benchmarking is the process of comparing the business processes and performance metrics including cost, cycle time, productivity, or quality to another that is widely considered to be an industry standard benchmark or best practice. Essentially, benchmarking provides a snapshot of the performance of your business and helps you understand where you are in relation to a particular standard. The result is often a business case and "Burning Platform" for making changes to make improvements.
Benchtrending is the The latest approach to benchmarking.
It involves - Continuous monitoring of specific process performance with a select group of benchmarking partners.
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