5 Methods to Make Powerful Competitive Benchmarking Reports That Will Help Grow Your Business



keywords: trendline, horizontal trend line, create trend chart, excel trend chart, key performance indicators, competitive benchmark reports


A simple and powerful trendline can be created in Excel.


The horizontal trend line is the most commonly used. This trendline can be easily created by plotting two points with the same x-axis value on an Excel chart. A trend line will appear and it is usually the best fit for your data.


An excel trend chart can also be created with a linear or logarithmic trendline by plotting 3 or more points on an Excel chart respectively. To display a logarithmic progression, you will need to set your y-axis to a percentage, rather than a fixed unit of measure like inches or centimeters.


Trendlines are a type of chart, which is used for data that exhibits a trend. Trendlines can be either straight lines or curved lines.


Trendline data is typically plotted to compare how the value of the variable changes over time. Trendlines are useful to identify whether there has been a consistent change in value over time and if so, by how much.


Trend line charts can be created with some of the most common types of software programs like Microsoft Excel or Open Office Calc.


How trendlines can be used in excel to analyze data


A trendline is a line that attempts to model the underlying trend in a data set. Trendlines are used as short-cuts to understanding data and are often used when analyzing business data or when making predictions.


This is usually done by plotting a linear regression line or by fitting an exponential growth curve to the data.


Trendlines are also often used as a way of gauging the overall direction in which something is heading, such as the economy or share prices.



What is BS3C?


Benchmarking software is software that is used for measuring a company’s performance against other companies in the same industry. A company creates a benchmarking report by gathering data from at least three companies and measuring their KPIs.


A benchmarking report typically includes an overview of the company’s top competitors, a summary of their business strategies, a SWOT analysis, an assessment of the competitive environment, and recommendations for improvement.


BS3C is enterprise software for managing, benchmarking, and improving processes.

The BS3C software is developed on the basis of the best practice guidelines from international experts and organizations.


It includes 8 modules: Planning, Organisation, Process Execution, Process Management, Process Analysis, Process Reporting and Dashboards, Benchmarking, and Quality Management.


BS3C is a benchmarking software made by COPA (Canadian Oil and Gas Producers Association). It helps companies to compare their own performance against industry standards.


The primary purposes of BS3C are to provide industry-wide benchmarks of upstream oil and gas operations, promote safer and more sustainable operations, and help companies improve their operational performance.


BS3C uses a set of metrics to gauge the operational performance of oil sands mining projects. These metrics include measures such as greenhouse gas emissions, water use per barrel, worker safety incidents per million hours worked, and water use efficiency.


Types of Comparative Competitive Benchmarking Reports


We will spend our time talking about comparative competitive benchmarking reports that are created by a third party, focusing on the content of the report. We will discuss what constitutes a comparative competitive benchmarking report and provide a few example reports to help you understand the different types of benchmarking reports.


Comparative Competitive Benchmarking Reports are used by companies for research purposes in order to compare their service offerings to their competitors and learn best practices from other markets.


Specifically, these types of benchmarking reports typically look at key areas such as:


- pricing;

- quality;

- customer service; and

- company culture.

These reports are of 3 types


Comparative benchmarking reports focus on comparing past performance against current performance, future projections, or both. They are usually created for investors with the intent of providing a comprehensive overview of a company's financial performance in various dimensions. These reports can also be used by companies to assess their performance relative to competitors and examine their strategies and identify areas for improvement.


Benchmarking is a useful marketing research technique that businesses use when they need to verify their progress in regard to specific objectives, activities, or results. It helps them evaluate the company's current position as well as its potential opportunities against those of the competitors. Benchmarking techniques can also help companies reduce costs and reach higher levels of productivity and efficiency.


Successive-periods reports compare past performance with current

A comparative competitive benchmark report is an analytical document that is used to measure the performance of a company in comparison to its competitors.


It is a type of marketing research where it evaluates the current standing of a company against competitors and then offers suggestions for improvement. A comparative competitive benchmarking report can be done at both the macro level or micro level.


One of the uses for this type of report is for pricing information. When other companies see what your pricing looks like, they may be more likely to contact you about price quotes and requests. These reports are also useful for entrepreneurs who are interested in entering new markets but want to know how their prices compare to those out there already.


Also read - Competitive Benchmarking: A Strategy Guide for Digital Marketers



How to Calculate KPIs for Each Type of Comparative Competitive Benchmarking Report


KPIs are quite a way to tell how the company is doing in the market. KPIs are important for understanding the health of a company. Some of them are very general and others are very specific to that particular industry, but they all have one goal - to tell if a company is doing well or not.


Key Performance Indicators (KPIs) provide insight into what drives organizational success and failure. A KPI is any measurable entity or event that provides information about an organization's performance toward specific objectives.

The KPIs you calculate will depend on the type of competitive benchmarking report.

For instance, look at the different reports that you have to measure:


Performance metrics: Calculate your own performance metrics and compare them with the competitors’ metrics. Use relative measures such as percentile or other measures to understand how much progress you have made against your competitors. You will also need to know their performance.


Sales metrics: Compare your sales numbers with those of your competitors. This will tell you just how much more successful they are than you at selling their products and services so that you can take steps accordingly. This is an important measure because it can help predict sales in future periods, which is invaluable information for a business owner or executive looking to make decisions about marketing efforts, inventory levels, and more.

In this section, we will illustrate how to calculate KPIs for each type of comparative competitive benchmarking report.


Quantitative benchmarks: This type of benchmark is the simplest to measure, as it focuses on four primary metrics that help an organization better understand its strengths and weaknesses. To calculate these metrics, we would need to identify the key metrics for a particular industry and those metrics would be our KPIs.


Qualitative benchmarks: These are often more difficult to measure because qualitative data can be subjective in nature. Qualitative data are usually collected from interviews with customers or other stakeholders.


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