Industry Benchmarking puts your business in context with others in the same industry. It’s a way of comparing your performance against competitors and other companies that operate in the same market—allowing you to measure the effectiveness of your strategy and identify opportunities for improvement. By providing an objective view of industry trends, it allows you to see how you’re performing relative to the field and recognize potential areas where you can improve. It’s essential for businesses looking to set benchmarks and reach their maximum potential.