Benchmarking is correct. As per BABOK v3 10.4.2, Benchmark studies are conducted to compare organizational practices against
the best-in-class practices. These comparisons can be extended to products, services, systems, etc. While cost-benefit analysis is indeed a valuable tool for decision-making, it focuses specifically on comparing the monetary costs and benefits of alternatives. On the other hand, benchmarking involves comparing various aspects of systems, services, or products beyond just their monetary aspects. It may include comparisons of performance, quality, efficiency, or other non-monetary factors.
Benchmarking and Market Analysis: used as a source of business analysis
information by comparing a specific process, system, product, service, or
structure with some external baseline, such as a similar organization or baseline
provided by an industry association.
cost-benefit analysis: An analysis which compares and quantifies the financial and
non-financial costs of making a change or implementing a solution
compared to the benefits gained
A voting comment increases the vote count for the chosen answer by one.
Upvoting a comment with a selected answer will also increase the vote count towards that answer by one.
So if you see a comment that you already agree with, you can upvote it instead of posting a new comment.
Farooq_95
2 months, 2 weeks agosojomoojo
1 year, 10 months agoMmotun
2 years, 2 months agoHobic
1 year, 11 months agoHobic
1 year, 11 months agoMFZZ
2 years, 4 months ago