Performance Metrics and Benchmarking

Performance metrics are measurable indicators used to assess how well a business is doing in specific areas, like sales or customer satisfaction. Benchmarking involves comparing these metrics against industry standards or competitors to understand where a business stands. In the context of Collaborative Business Intelligence, teams use these metrics and benchmarks to share insights and improve decision-making together, ensuring everyone works towards common goals effectively. This process helps businesses identify strengths, uncover weaknesses, and drive overall performance improvements.