SOFTWARE ENGINEERING

Detailed explanation-1: -Businesses can use benchmarking in their operations to measure themselves against internal or external standards. Benchmarking can be used to measure internal progress, performance against competitors and how your processes rank against world-class organizations.

Detailed explanation-2: -Benchmarking can also help organizations identify areas, systems, or processes for improvements-either incremental (continuous) improvements or dramatic (business process re-engineering) improvements. Benchmarking has been classified into two distinct categories: technical and competitive.

Detailed explanation-3: -Benchmarking involves research into the best practices at the industry, firm, or process level. Benchmarking goes beyond a determination of the industry standard; it breaks the firm’s activities down to process operations and looks for the best-in-class for a particular operation.