What is Benchmarking?
Benchmarking is the process of comparing application usage, cost, and performance metrics against similar organizations, standards, or internal departments.
Why it Matters
It enables organizations to understand their relative efficiency, uncover gaps, and implement improvements based on real-world performance data.
Benefits
- Identify inefficiencies or excesses
- Contextualize performance with peer data
- Drive data backed decisions
- Improve procurement and budgeting strategy
