Use benchmarking
How do you deal with such challenges while setting targets? Benchmarking can help.
Use information from trade associations, industry publications, the Internet, and outside sources to benchmark, or compare your performance data and metrics with those of other companies. Some are very well known—such as the J.D. Power rankings. Also consider internal benchmarking sources—such as performance data from other groups that carry out similar processes or that have similar goals as yours. Then set targets that seem reasonable in light of the benchmarking information you've gathered.
