Is a process whereby companies compare their practices and performance measurements to those of other companies?

Is a process whereby companies compare their practices and performance measurements to those of other companies? Benchmarking. Benchmarking is one company's way of comparing how they do business to other companies. They check their metrics in practice and performance to see how they fair with the industries leading companies. They are commonly measuring quality of produce, time it costs to produce and the price it costs to produce.