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About Benchmark
A benchmark study is:
– a mutual cooperation between companies and colleagues
Waagstein Research benchmark groups
Belonging to a benchmark group enable companies and organizations the valuable opportunity to analyze and compare their processes to industry standards on a regular basis.
Waagstein Research is an independent research and advisory firm specialized in managing and organising benchmark studies.
Benchmark areas
A benchmark study can be carried out from a number of different perspectives. Examples of areas where Waagstein Research conduct benchmark studies are:
- Efficiency
- Costs
- Satisfaction
- Performance
- Organisation
Implementation
A benchmark study is carried out in five steps:
1. Study design
Waagstein Research sends a draft proposal of the study design to the participants. Each participant gives their suggestions for changes and additions to the study. This ensures that the study is adapted to the industry and that the results are relevant for the participants. Waagstein Research compiles a final questionnaire and sends it to the participants.
2. Collection and organisation of data
Each participant completes the questionnaire and returns it to Waagstein Research. The reported numbers from each participant are compared to the group average, highest and lowest numbers in an individual report. As an independent party, Waagstein Research ensures that the numbers and information of the individual participants are not known to the other participants.
3. Analysis
The results of each participant are analysed by the analyst in charge of the benchmarking study. The analysis is presented in a written report and in a meeting between the participant and the analyst. The work of interpreting and understanding the individual results are key to the participant’s use for and value attributed to the benchmarking study.
4. Reporting
The results are delivered in the form of an individually written report to each participant. In the report the results are illustrated in charts and tables as well as text. The results are analysed and recommendations are given to each participant.
In addition each participant is offered a presentation of the report where opportunity is given to discuss and ask questions relating to the report. The participants also have the right to personal telephone or e-mail contact with the responsible analyst, for example in order to get answers to questions that are not covered in the report.
5. Follow-up
A benchmark answers many question but also rise new. Therefor it is important for the participant to be able to follow-up the results from the study. Waagstein Research uses two alternative methods to do this follow-up:
i. The opportunity to ask follow up questions to the group. These questions are asked via a web survey.
ii. A benchmark group analyst meeting where the participants have the opportunity to take advantage of the knowledge and experience of the other benchmark participants. | 
