STATISTICAL ANALYSIS OF PERFORMANCE METRICS FOR BENCH MARKING FOR ORGANIZATIONAL EXCELLENCE.

Abstract

Benchmarking is essential to the pursuit of organizational excellence because it allows businesses to assess their performance in relation to rivals and industry norms. The goal of this research is to discover the critical elements influencing organizational excellence by doing a thorough statistical analysis of performance measures used in benchmarking procedures. By analysing a range of performance measurements, including financial metrics, customer happiness, quality, productivity, and efficiency, this study attempts to shed light on the factors that matter most when it comes to creating successful organizations. By using statistical methods such as correlation analysis, regression analysis, and variance analysis, we investigate the connections between various organizational outcomes and performance measures. The results clarify the role that certain KPIs play in fostering excellence in companies and provide insightful information to decision-makers who want to improve their competitive edge in the market.