[Benchmarking is the process of comparing the cost, time or quality of what one organization does against what another organization does. The result is often a business case for making changes in order to make improvements.
Benchmarking is the continuous, systematic process of measuring one's output and/or work processes against the toughest competitors or those recognized best in industry. (Service)
It is a process used in management and particularly strategic management, in which organizations evaluate various aspects of their processes in relation to best practice