What ChatGPT thinks about benchmarking

What is an IT benchmark?

An IT benchmark is a comparison of IT systems or processes to determine their performance, efficiency, reliability and quality. It can be used to evaluate the performance of proprietary systems against industry standards or best practices to identify weaknesses and identify potential for optimisation. Benchmarks can also be used to compare different solutions or providers to select the best option for a specific application scenario.

Why benchmark IT?

• Performance monitoring: An IT benchmark can be used to assess the performance of IT systems against industry standards or best practices and identify weaknesses in speed, capacity and reliability.
• Optimisation potential: An IT benchmark can be used to identify optimisation potential in terms of costs, resource utilisation and efficiency and to propose measures to improve the performance of IT systems.
• Decision support: An IT benchmark can be used to compare different solutions or providers in order to select the best option for a specific application scenario.
• Compliance: An IT benchmark can also help to ensure that a company's IT systems comply with applicable laws, regulations and industry standards.
• Risk mitigation: An IT benchmark can help identify and mitigate risks associated with IT systems by identifying and addressing vulnerabilities.

What is the IT budget in 2021?

There is no general indication of what the IT budget for 2021 will be, as it varies from company to company and from industry to industry. The COVID-19 pandemic has also had an impact on many companies' IT budgets and some have increased their IT spend to support remote working and digital transformation, while others have had to reduce their IT spend to cushion the impact of economic uncertainty.  

ChatGPT was unable to answer our question about IT budgets in 2023. See our blog for an article on IT budgets 2023