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Analysis/Application

The ability to decipher, filter, and connect disparate information comprehensively is essential for solving your company’s problem.  Any solution-based analysis has to be grounded in practical applications. After you have determined the relevancy in the best practices you have benchmarked, you have to ensure that the benchmarks fit into your operations.

The mistake that many people make in the proper use of benchmarks is to think that an ideal benchmark fits all cases. For example, you may want to start a fast food restaurant, so you mimic what McDonald’s does. You try to duplicate its hamburgers and fries, as well as its color scheme. But, unless you understand how and why McDonald’s system works, you may set yourself up for failure.  The critical thinking process is essential during the Analysis/Application part of IBAR, because it encourages you to weigh every aspect of benchmarks in determining the proper and most effective way of using them. The ability to compare and contrast, as well as weigh the benefits and liabilities are deliberated here to determine your recommendations.