Glossary / Lexicon

Benchmarking

Benchmarking refers to the case where there are two sources of data for the same target variable, with different frequencies, and is concerned with correcting inconsistencies between the different estimates.

It measures standards of performance against others doing similar work.

Other /More definition:
Benchmarking is a term used in industrial and organizational psychology that refers to the process of looking and using performance and methods of competitor companies as a standard to judge similar aspects of a company

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