Developing your first benchmarking study can be daunting, but the end result is a benefit you can’t afford to ignore. Benchmarking yields invaluable data about your members and delivers meaningful information to your members for better business decision making. But with so many possible directions to go and so many different metrics to measure, where do you begin?
Many associations have been collecting information from their members for years …compiling, analyzing, and reporting trend data back to them as a much-valued service. If your association does this, you likely started by mailing surveys to your members and probably moved to an online survey tool like Survey Monkey or a combination of both paper and online data collection to collect data, hoping to simplify the process.
Today Dynamic Benchmarking has launched a new web site, and we invite you to become part of our rich, interactive online community.
The concept of business intelligence indicates that it is not just information, but usable information that businesses seek. So what is the difference between survey data and benchmarking? Surveys are taken, but what do you do with the data to make it measurable? And how much effort goes into that process? And how relevant is the information by the time the report is delivered?