Comparing performance levels is only the preliminary phase of benchmarking. The bulk of the effort involves an analysis of how and why these performance levels are achieved. These may include other operating units within your company, competitors, or unrelated companies. Determine the data collection method and then collect the data. Measurements must be chosen to provide a meaningful comparison.
Collection usually involves in-person meetings and site visits of areas being benchmarked.
Determine current performance levels. This includes identifying gaps between your organization and your benchmarking partners. Determine future performance levels. Forecast the expected improvements of benchmarking partners so that goals set for the improvement program will not become quickly outdated. Communicate the benchmark findings and gain acceptance from senior management and employees who will be asked to make improvements.