Why would you use benchmark for technological innovations if you were in the grocery business?

1 Answer | Add Yours

readerofbooks's profile pic

readerofbooks | College Teacher | (Level 2) Educator Emeritus

Posted on

This is a great question. It is first important to give a definition of what benchmarking is. Benchmarking is the process of comparing a product or service, technology in this case with industry standards to see how the technology that is employed fares against others. As you can see, benchmarking is essential, because it gives a consumer a sense of the effectiveness of technology. 

In light of this, if you are in the grocery business, and someone or some company touts a new technology, you would want to do some benchmark tests or read about some benchmark tests.

In other words, is this new technology better than what you are using now? If it is not better, then there would be no need to change. Even if it is better, you would need to determine whether the cost of change, training people, and the like is worth the better technology. The answer might be "no".

Sources:

We’ve answered 318,916 questions. We can answer yours, too.

Ask a question