Benchmarking is the process of measuring all actions taken by a company and comparing them with those of its competitors. It also involves considering competitors\' advertising campaigns and communication strategies to leverage this information for your own benefit. This process identifies opportunities for improvement, which could involve modifying product features to match a competitor\'s offering or resizing services, among other things. Follow the process in detail: - Choose a product, service, or internal department for benchmarking. - Determine the best companies with which you should compare your business models. - Gather information and metrics on internal procedures. - Compare data from both organizations to identify gaps in your company\'s actions. - Adopt the best processes and policies. To compare data, you will need to break down internal processes to calculate performance metrics and quantify them for accurate comparisons. It is important to have the human resources to implement changes that will make a difference for your company.