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Mutual benchmarking is also of great importance.
This article was amended on 27 October to say that the Tef's benchmarking is better than league tables, rather than some league tables.
Disagreement over basic questions like benchmarking is partly why Morningstar suggests actively managed funds for average investors who want to invest in commodities.
In his view, benchmarking is not practical for securities traded off-exchange, especially in thin markets where price is only one factor in a deal.
"The incentive to sell processes instead of giving them away may mean that traditional benchmarking is over," said Robert Sullivan, dean of the Kenan-Flagler Business School athehe University of North Carolina.
A Department for Education spokesperson said: "While there will always be academic debate over methodology, international benchmarking is vitally important to ensure we are competing with the world's best-performing education systems".
Standardized performance benchmarking is required.
In conclusion, benchmarking is a reliable tool for quality improvement.
Benchmarking is a relatively simple concept, but its implementation can be a little tricky.
P24c: Internal & external benchmarking is positively associated with the implementation success of SSQI projects.
Benchmarking is also performed against a range of alternative preprocessing methods.
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