Benchmarking is a type of time-series analysis in which the firm's ratio values are compared to those of a key competitor or group of competitors, primarily to isolate areas of opportunity for improvement.

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Benchmarking involves comparing a company's processes, performance metrics, and products to industry best practices or leading competitors, but it is not a type of time-series analysis. Time-series analysis involves analyzing data points collected or recorded at specific time intervals to identify trends, cycles, or seasonal variations over time.

Benchmarking Is a Type of Time-Series Analysis in Which the Firm's