About the blog author - As a certified Project Manager, Linda brings a wealth of project management experience as well as a keen business sense to Dynamic Benchmarking. As the newest member of our team, we asked her to share her thoughts on how companies can make the most out of their benchmarking efforts.
Benchmarking is a well-proven tool for business performance management. Any business can benefit by making informed decisions based on real data. I believe that it is imperative for organizations to collect and utilize relevant statistics, trends and analyses as a way of providing value to their members and staying competitive.
The biggest advantage to benchmarking is that it enables companies to outperform their competitors. It opens minds to new ideas, validates assumptions and places organizations in a continuous mode of evolution. Sometimes benchmarking can drive home harsh realities about a business by raising questions such as “which metrics are we behind in?” and “where are we lacking technologically?”
Some organizations make the mistake of undertaking benchmarking as a stand-alone activity. I see benchmarking as a means to an end, and it is worthless if it is not accompanied by a plan for improvement. Collecting benchmarking data provides organizations with a starting point, measurable, critical reasons to make modifications to their existing strategy, and a clear path to achieve those changes. Benchmarking defines the best ways an organization can invest its resources to give its members the most valuable experience.
In my first few weeks here at Dynamic Benchmarking, I have found that our solution excels in reporting personalized results, enabling our users to easily identify best practices and what constitutes superior performance. Dynamic Benchmarking not only partners with our clients to create the best possible benchmarking surveys for each organization, but we also provide valuable advice and direction to use their personalized data to create measurable change strategies.
Delivering a meaningful experience to its members will make an organization an indispensable partner in their success, and give a business a clear competitive advantage.
My new role at Dynamic Benchmarking provides me with many opportunities to continue to develop my skills and learn new techniques. I want to use this knowledge to help improve the benchmarking process for my clients. The opportunity to work directly with so many different customers in such a vital aspect of their business is what I love most about being a project manager. Getting my hands in the clay, so to speak, is what produces enormous job satisfaction for me. I look forward to partnering with customers new and old as they continue on their quest to grow membership and increase engagement and satisfaction through benchmarking.
Survey Type: Financial Benchmarking Surveys by Dynamic Benchmarking