The use of benchmarking systems to monitor and improve performance metrics is often hampered by a lack of real comparability due to external factors. This can be remedied by creating models for the benchmark that take into account these external factors.
Typical performance metrics
For the pricing levels of products and services, this could be a list of the main product features and differentiating attributes, e.g. in a B2B context
A fixed baseline and acceptability-corridor, based on the agreed influencing factors, is then established.Performance levels are tracked against this new benchmark.
Responsible managers are provided with regular reports about the performance of their area against the benchmarks.
Boris Vaillant - Quantitative Consulting 17