What is a benchmark used for within an organization?

A benchmark within an organization serves as a standard or point of reference for measuring performance over time. By establishing a benchmark, organizations can identify what is considered normal or acceptable performance, allowing them to compare current data against this standard. This process helps in evaluating changes in performance metrics, assessing the effectiveness of implemented strategies, tracking improvements or declines, and making informed decisions based on historical performance.

In this context, benchmarks are particularly valuable because they provide a clear way to observe trends and shifts in performance, which is crucial for ongoing assessments and adjustments. This continuous comparison over time can lead to enhanced decision-making and strategic planning based on empirical data.

While improving security protocols, capturing performance metrics, and increasing budget management are important operational goals, they do not encapsulate the primary function of a benchmark, which is fundamentally about comparison and tracking changes over time.