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benchmark |
Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Acronyms, Wikipedia, Hutchinson | 0.02 sec. |
benchmarkA performance test of hardware and/or software. There are various programs that very accurately test the raw power of a single machine, the interaction in a single client/server system (one server/multiple clients) and the transactions per second in a transaction processing system. However, it is next to impossible to benchmark the performance of an entire enterprise network with a great degree of accuracy. benchmark [′bench‚märk] (engineering) A relatively permanent natural or artificial object bearing a marked point whose elevation above or below an adopted datum—for example, sea level—is known. Abbreviated BM. (industrial engineering) A standard of measurement possessing sufficient identifiable characteristics common to the individual units of a population to facilitate economical and efficient comparison of attributes for units selected from a sample. (science and technology) A reference value against which a measurement or a series of measurements may be compared.
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Benchmarking has been widely used in the business world as well as in the private industry, where managers are looking for better ways to do business by using benchmarking as a management improvement tool. With benchmarking one can define customer requirements, establish effective goals and objectives, develop true measures of productivity, improve competitiveness, and learn from industry best practices. The benchmarking concept, a familiar one to most executives, keeps gaining converts. |
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