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benchmark

BENCH-mark /ˈbentʃmɑːrk/

nounverbC1GMATGREIELTS

BusinessTechnical

A standard or point of reference against which things may be compared or assessed.

A benchmark is usually an external standard (like a competitor's performance) used to judge one's own internal performance.

The story behind the word. Originally a literal mark made by surveyors on a stone 'bench' or wall to serve as a reference point for height. If you moved the bench, the mark was useless. In business, it became a metaphorical mark used to see how high your performance 'sits' compared to others.

Word relationships

standard: A standard is a required level of quality; a benchmark is a specific comparative data point.
yardstick: Yardstick is a more metaphorical, old-fashioned term for a benchmark.

anomaly: An anomaly is a deviation from the norm, whereas a benchmark represents the norm or the standard.

Commonly confused with

milestone: A milestone is a point in time on a journey; a benchmark is a level of quality or performance.

Word family

benchmarking (noun): The process of comparing one's business processes to industry bests.

Collocations

industry benchmark
set a benchmark
benchmark against
performance benchmark

Example sentences

"The company's profit margins are well above the industry benchmark." Comparing company performance to the industry.
"This new processor sets a new benchmark for speed and efficiency in mobile computing." A report on technology standards.

Memory hook

Imagine a mark on a park bench that shows how tall you must be to sit there. It's the 'standard' for sitting. The mark that measures the competition.

When not to use

Don't confuse it with a 'goal'. A benchmark is a reference point that already exists; a goal is something you want to reach.

Fun facts

In computer science, 'benchmarking' is the act of running a computer program to assess the relative performance of an object.