The Complete Vocabulary Builder Workbook by BETTER WORDS R. B. Skinner

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benchmark

noun

/ˈbɛn(t)ʃmɑːk/

IPA:

Dictionary definition of benchmark

A standard or point of reference against which the performance or quality of something is measured.
"The company set a new benchmark for customer service in the industry."

Detailed meaning of benchmark

It is a measure of how well something is performing, or how well it compares to similar things. Benchmarks are commonly used in a variety of fields, including business, finance, technology and education. In business, benchmarks are often used to measure the performance of a company or industry by comparing it to similar companies or industries. In finance, benchmarks are used to measure the performance of an investment or portfolio by comparing it to a relevant market index or other standard. In technology, benchmarks are used to measure the performance of a computer or other device by comparing it to others of the same type. In education, benchmarks are used to measure student progress by comparing it to a standard or grade level. Overall, benchmarks are used as a measure of something's performance, quality or progress and are often used to set goals, track progress and make decisions.

Example sentences containing benchmark

1. The company set a new benchmark for customer service excellence.
2. This test score serves as a benchmark for your academic progress.
3. The benchmark for success in this industry is achieving a 20% profit margin.
4. Our product's performance is a benchmark against which others are measured.
5. The stock market's performance can be seen as a benchmark of the economy's health.
6. The company's annual report includes a benchmark analysis of its financial growth.

History and etymology of benchmark

The noun 'benchmark' has its etymological roots in surveying and land measurement. In the late 18th century, it referred to a surveyor's mark or point of reference made on a rock or other prominent feature of the landscape to establish a precise elevation or location. Over time, the term evolved and expanded its meaning to describe any standard or point of reference against which the performance or quality of something is measured. In contemporary usage, a 'benchmark' serves as a fixed standard for comparison, providing a basis for assessing and evaluating the relative excellence or effectiveness of various processes, products, or entities. It has become a fundamental concept in various fields, including business, finance, and technology, where it plays a crucial role in performance assessment and improvement.

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Further usage examples of benchmark

1. To measure progress, we need a benchmark to compare against.
2. Meeting the project's deadline will be a benchmark of your team's efficiency.
3. The industry standard has become the benchmark for quality.
4. We use industry benchmarks to evaluate our company's performance.
5. The new software release will be the benchmark for our development team's success.
6. Your time trial result will serve as a benchmark for your athletic progress.
7. The benchmark for entry into this prestigious club is quite high.
8. To gauge your fitness level, we need to establish a benchmark.
9. The benchmark data revealed that we are lagging behind our competitors.
10. She used the previous year's performance as a benchmark to set new goals.
11. The benchmark for excellence in this field is constantly evolving.
12. We should aim to surpass the industry benchmark in terms of efficiency.
13. The benchmark for a successful marketing campaign is increased sales.
14. The benchmark for a healthy diet includes a variety of fruits and vegetables.
15. The benchmark for a competitive salary in this field is $70,000 per year.
16. The benchmark for success in this project is achieving a 95% completion rate.
17. The benchmark for leadership is the ability to inspire and motivate others.