Benchmarking

Benchmarking is a method of progressively measuring the improvement of an organization. Benchmarking may be done against the performance of markets nationally, against the most successful competitors, and/or against internal performance over the course of a chosen time frame.

CFI's benchmarking process includes:

• Identify key metrics/KPIs
• Develop the criteria and goals for improvement
• Collect needed data from inside and outside the organization
• Analyze the data
• Determine and implement methods for improvement
• Gather new data to measure improvement