Quick Answer: What Is Another Word For Benchmark?

What is a benchmark example?

Examples of benchmarks A call center might benchmark their customer satisfaction rating by asking customers to rate their service based on their experiences.

They might also collect data about waiting times, call lengths, first contact resolution rating, occupancy and shrinkage..

How is a benchmark calculated?

In order to create the benchmark scores, the survey items associated with each benchmark are first rescaled so that all items are on the same scale (0 to 1). … Benchmark scores are then computed by averaging the scores on the associated items.

What is the opposite of benchmark?

Opposite of a benchmark by which something is evaluated. inferiority. insignificance. unimportance. worthlessness.

What is another word for standard?

What is another word for standard?normalusualcustomarystocktypicalregularaveragecommonordinaryset217 more rows

What is the definition of archetype?

the original pattern or model from which all things of the same kind are copied or on which they are based; a model or first form; prototype. (in Jungian psychology) a collectively inherited unconscious idea, pattern of thought, image, etc., universally present in individual psyches.

What makes a good benchmark?

Summary: At the heart of a quality manager analysis is a good benchmark. According to AIMR, in order for a benchmark to be a valid and effective tool for measuring a manager’s performance, it must be unambiguous, investable, measurable, appropriate, reflective of current investment opinions and specified in advance.

What is the difference between benchmark and index?

That’s because indexes are developed for a variety of purposes by many different entities, while benchmarks are chosen by people who want to be measured (such as portfolio managers) or by people who do the measuring (such as pension plans or plan consultants).

What’s another word for next level?

What is another word for next level?next stepnext movenext phasenext stagefollow-upfurther actionfuture actionnext steps

What is a standard?

A standard (French: Norme, German: Norm) is a technical document designed to be used as a rule, guideline or definition. … Standards are created by bringing together all interested parties such as manufacturers, consumers and regulators of a particular material, product, process or service.

How many types of benchmark are there?

fourThere are four main types of benchmarking: internal, external, performance, and practice.

How do you write a benchmark?

Use these steps to practically benchmark your business against your competitors:Identify what you’re going to benchmark. … Identify your competitors. … Look at trends. … Outline objectives. … Develop an action plan for your objectives. … Monitor your results and implement an action plan.

What is the benchmark rate?

Benchmark interest rate Also called base interest rate, it is the minimum interest rate investors will demand for investing in a non-Treasury security. It is also tied to the yield to maturity offered on the comparable-maturity treasury security that was most recently issued (on-the-run).

What does Benchmark mean?

noun. a standard of excellence, achievement, etc., against which similar things must be measured or judged: The new hotel is a benchmark in opulence and comfort. … an established point of reference against which computers or programs can be measured in tests comparing their performance, reliability, etc.

Which is the closest synonym for the word conventional?

Some common synonyms of conventional are ceremonial, ceremonious, and formal.