What is Benchmark and how does it work?
Benchmark is a test used to compare performance between multiple things, either against each other or against an accepted standard. Benchmarking is a way of discovering what is the best performance is achieved - whether in a particular company, by a competitor or by an entirely different platform. Even, when you’re buying a new gadget, you want to figure out what devices have the most power and better through benchmarking, though sometimes they create just a distraction. This information can then be used to identify gaps in order to achieve a competitive advantage. Benchmarking is used to measure performance using a specific indicator resulting in a metric of performance that is then compared to others. This then allows organizations to develop plans on how to make improvements or adapt specific best practices, usually with the aim of increasing some aspect of performance.
Benchmarks provide a way to measure real-world performance without getting bogged down in comparing specs. Some benchmark tests the use of real-world situations to measure performance. Benchmarks are also most useful when you’re measuring something specific like graphics card performance. They can also be handy if the type of device you’re looking at has so many specs and variables that it makes direct comparisons impossible. They’re all designed to show how powerful a device is, but benchmarking also has its limits. For example, Samsung phones might score high on benchmark tests but if Samsung fills up your phone with crapware than you could end up with a slower phone.
In the computer world, benchmarks are often used to compare the speeds or performances of hardware components, software programs, and even internet connections. It provides a method of comparing the performance of various subsystems across different chip/system architectures.
For example, if you plan on installing a new high-end video game on your computer, you might run a benchmark to see if your hardware is capable of running the game. The benchmark will apply a particular amount of stress on the hardware in question to check that it can actually support the game. If it doesn't perform as well as the game demands, the game might be sluggish or unresponsive when it's actually used with that hardware.
The process of benchmarking
There is no single benchmarking process that has been universally adopted. The wide appeal and acceptance of benchmarking have led to the emergence of benchmarking methodologies. It consists of -
Identify potential partners
Identify data sources
Collect data and select all partners
Determine the gaps
Target future performance
Benchmarking software can be used to organize large and complex amounts of information. Software packages can extend the concept of benchmarking and competitive analysis by allowing individuals to handle such large and complex amounts or strategies.
Types of benchmarking
Such tools support different types of benchmarking -
Process benchmarking - the initiating firm focuses its observation and investigation of business processes with a goal of identifying and observing the best practices from one or more benchmark firms. Benchmarking is appropriate in nearly every case where process redesign or improvement is to be undertaking so long as the cost of the study does not exceed the expected benefit.
Performance benchmarking - allows the initiator firm to assess their competitive position by comparing products and services with those of target firms.
Benchmarking in the public sector - functions as a tool for improvement and innovation in public administration, where state organizations invest efforts and resources to achieve quality, efficiency, and effectiveness of the services they provide.
Financial benchmarking - performing a financial analysis and comparing the results in an effort to assess your overall competitiveness and productivity.
Energy benchmarking - the process of collecting, analysing and relating energy performance data of comparable activities with the purpose of evaluating and comparing performance between or within entities.
Strategic benchmarking - involves observing how others compete. This type is usually not industry-specific, meaning it is best to look at other industries.
Functional benchmarking - It focuses on a single function to improve the operation of that particular function.
Lastly say, it's important to make sure you aren't doing a bunch of other things at the same time that you're running a benchmark. If you run a benchmark, you don't want to also be using the unnecessary task at the same time. For example, you wouldn't trust a benchmark against your internet connection if you're downloading or uploading files at the same time. Just pause those things or wait until they're done before you run an internet speed test or any other test that those activities may interfere with. You can share your comments in the comment section. Thank you!