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Benchmarking is appropriate in nearly every case where process redesign or improvement is to be undertaking so long as the cost of the study does not exceed the expected benefit. Financial benchmarking - performing a financial analysis and comparing the results in an effort to assess your overall competitiveness and productivity.
An Ordnance Survey cut mark in the UK Occasionally a non-vertical face, and a slightly different mark, was used. The term benchmark, bench mark, or survey benchmark originates from the chiseled horizontal marks that surveyors made in stone structures, into which an angle iron could be placed to form a "bench" for a leveling rod, thus ensuring that a leveling rod could be accurately ...
Benchmark (surveying), a point of known elevation marked for the purpose of surveying; Benchmarking (geolocating), an activity involving finding benchmarks; Benchmark (computing), the result of running a computer program to assess performance; Benchmark, a best-performing, or gold standard test in medicine and statistics
A graphical demo running as a benchmark of the OGRE engine. In computing, a benchmark is the act of running a computer program, a set of programs, or other operations, in order to assess the relative performance of an object, normally by running a number of standard tests and trials against it.
Benchmarking is sometimes referred to as 'post-stratification' because of its similarities to stratified sampling.The difference between the two is that in stratified sampling, we decide in advance how many units will be sampled from each stratum (equivalent to benchmarking cells); in benchmarking, we select units from the broader population, and the number chosen from each cell is a matter of ...
An example is the benchmark prices that apply to crude oil in the international marketplace. It is not mandatory for exporting countries or importing countries to use the benchmark price as international trade is based on favourable prices. The benchmark price is often the most important consideration when determining export prices.
Under ordinary conditions, carrying out an experiment gives the researchers an unbiased estimate of their parameter of interest. This estimate can then be compared to the findings of observational research. Note that benchmarking is an attempt to calibrate non-statistical uncertainty (flaws in underlying assumptions). When combined with meta ...
Brent is the leading global price benchmark for Atlantic basin crude oils. It is used to set the price of two-thirds of the world's internationally traded crude oil supplies. It is one of the two main benchmark prices for purchases of oil worldwide, the other being West Texas Intermediate (WTI).