Benchmarking

What is Benchmarking??

• Benchmarking is a process of study that involves comparing or evaluating similar products that are competitive in terms of features, functional parameters, and other references against a standard.
• Benchmarking is simply hardcore reverse engineering by analysis of substantial reference data of an existing best-performing product in a market.
• The benchmarking process is mainly done to improve one’s own product to perform better than the competitor’s version of a similar product.
• Benchmarking involves in-depth analysis, let’s say tear down analysis study of the chosen product.
• Benchmarking improves the product/ process thereby helping to reduce the cost in potential areas and increasing profit by satisfying the customer requirements.

Cars used for Benchmarking/comparison: