Benchmark analysis is a research method used to compare and evaluate the performance of a particular entity, such as a company, product, or process, against a set of standard or best practices in the industry. This can help identify areas of improvement, best practices to adopt, and potential competitive advantages. Benchmark analysis typically involves collecting and analyzing data from various sources, including financial statements, market research reports, and industry benchmarks, to assess performance and inform decision-making. The goal of benchmark analysis is to identify gaps between current performance and industry standards, and to develop strategies for improvement and growth.