From Longman Dictionary of Contemporary Englishbenchmarkbench‧mark1 /ˈbentʃmɑːk $ -mɑːrk/ ●○○ noun [countable] JUDGEsomething that is used as a standard by which other things can be judged or measured benchmark data The valuation becomes a benchmark against which to judge other prices.benchmark for figures that are a useful benchmark for measuring the company’s performancebenchmark of results that are used as a benchmark of success
Examples from the Corpus
benchmark• The book has been hailed as a benchmark in the debate on communication and social transformation.• In the 1960s and 1970s the Swedish political system was regarded as a benchmark for other European countries.• The valuation becomes a benchmark against which to judge sellers' expectations and offers received.• Besides, food and exercise guidelines may not be the conclusive benchmark for mortality after all.• The index rate is the benchmark used by lenders to set the mortgage rate.• Under Coach Wooden, UCLA men's basketball was so successful it was the benchmark other teams measured themselves against.• This guide price will obviously be a useful benchmark from which to evaluate any indicative offers.benchmarkbenchmark2 verb [transitive] to use a company’s good performance as a standard by which to judge the performance of other companies of the same typebenchmark somebody/something against something British Steel is benchmarked against the best operations anywhere in the world. —benchmarking noun [uncountable]→ See Verb tableFrom Longman Business Dictionarybenchmarkbench‧mark1 /ˈbentʃmɑːk-mɑːrk/ noun [countable]1something that can be used as a comparison by which to judge or measure other thingsThe newest Treasury bond is the benchmark bond, the one that trades most heavily.2COMMERCEa good performance that one company has achieved, that can be used as a standard to judge other companies of the same typeCompanies need to know how much return they can expect from their IT investments: they need benchmarks to see how their systems are performing.benchmarkbenchmark2 verb [transitive]COMMERCE to use a company’s good performance as a standard by which to judge the performance of other companies of the same typebenchmark somebody/something against somethingBritish Steel have benchmarked themselves against the best operations anywhere in the world. —benchmarking noun [uncountable]Mr O'Neill, a newcomer to the industry, heeds theories of cost control and benchmarking against other industries.→ See Verb table 