Benchmarking vs. Analytics for Peers and Third-party Services | Blog

Companies typically help inform decisions regarding peer group performance and best practices by conducting benchmarking activities. They also use benchmarking to ensure they do not overpay their third-party service providers where they have longstanding relationships. However, it is increasingly apparent that benchmarking has many limitations. Consequently, leading companies address these issues through applying dynamic analytics on a continuing basis to these best practice and pricing issues.

Read more in my blog on Forbes

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