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The phrase "a yardstick based on" is correct and usable in written English.
It can be used when discussing a standard or measure that is derived from a specific source or criteria.
Example: "We need a yardstick based on industry standards to evaluate our performance."
Alternatives: "a benchmark derived from" or "a standard rooted in".
Exact(1)
However, the results were largely disappointing when attempts were made to use a yardstick based on interpretative human observations, such as the CIN grading, to validate the sensitivity and specificity of a molecular virology test [ 6- 9] which is governed by the law of physics, or vice versa [ 15].
Similar(59)
And these distance measurements are sparking the excitement, by allowing astronomers to calibrate a longer range cosmic yardstick based on Cepheid variables.
The yardstick, based on, a relationship between the intrinsic brightness of certain variable stars and their pulse rates, enabled him to show that the earth and the sun are nowhere near the center of the Milky Way Galaxy, as had been supposed.
"By the most important yardstick, based on the sales currency of C3 ratings, we're the network leader," Stephen McPherson, the president of ABC Entertainment, said in an e-mail message.
The bottom-up methods for energy benchmarking aim to derive a yardstick for energy performance based on a theoretical analysis of a building.
The Super 500 gets around the limitations of individual yardsticks by measuring corporate size with a composite ranking based on sales, profits, assets and market value.
The academics who are custodians of the prize however, can only offer bland and complacent corporate PR speak in defence of an award based on the conceit that upper-class Englishness is the cultural yardstick against which all literature must be measured.
If you're like most business owners you evaluate your success based on one major yardstick how much money you are making.
When calculating such things, people often adopt a familiar unit as a mental yardstick and then generate predictions based on that unit.
The world will go on using their many yardsticks to evaluate you based on their other definitions of success and likely make many subtle suggestions about what you "should" be working to achieve.
Fortunately there is a way: the "Journal Impact Factor" (JIF), a rating given to academic journals that captures the impact of the publication based on a scientific analysis of citation data; a yardstick for determining the overall influence of a research publication.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com