›[T]to measure the quality of something by comparing it with something else of an accepted standard: Being able to benchmark performance is very important for new companies.The European Parliament has launched a programme to benchmark employment laws across the EU.
›[I or T]to use something as a standard in order to improve your own work, products, or processes: benchmark (sb/sth) against sthThe company continues to benchmark against the competition.The results allow the company to benchmark itself against other organizations and identify areas for improvement.
›[T]ITto test the quality and speed of computer software or hardware (= equipment or electronic parts): Benchmark the speed of your computer.