Business Analyst: What is a business analysis competitive benchmarking?

Benchmarking — comparing to competitors/best practices.

Types:

• Competitive — direct competitors.
• Functional — similar functions.
• Internal — within company.

Example:

Process:

1. Identify metrics.
2. Collect data.
3. Analyze gaps.
4. Set targets.
5. Track improvement.

Benefits:

• Objective comparison.
• Goal setting.
• Competitive advantage.