A new framework for industrial benchmarking

Gürdal Ertek, Firdevs Ulus, Mete Sevinç, Özlem Köse, Güvenç Şahin

Research output: Chapter in Book/Report/Conference proceedingChapter


The authors present a benchmarking study on the companies in the Turkish food industry based on their financial data. The aim is to develop a comprehensive benchmarking framework using Data Envelopment Analysis (DEA) and information visualization. Besides DEA, a traditional tool for financial benchmarking based on financial ratios is also incorporated. The consistency/inconsistency between the two methodologies is investigated using information visualization tools. In addition, k-means clustering, a fundamental method from machine learning, is applied. Finally, other relevant data, apart from the financial data, is introduced to the analysis through information visualization to discover new insights into DEA results. The results show that the framework developed is a comprehensive and effective strategy for benchmarking; it can be applied in other industries as well. The study contributes to the literature with a novel methodology that integrates the various benchmarking methods from the fields of operations research, machine learning, and financial analysis.

Original languageEnglish
Title of host publicationHandbook of Research on Strategic Performance Management and Measurement Using Data Envelopment Analysis
PublisherIGI Global
Number of pages17
ISBN (Electronic)9781466644755
ISBN (Print)1466644745, 9781466644748
Publication statusPublished - Aug 31 2013
Externally publishedYes

ASJC Scopus subject areas

  • General Economics,Econometrics and Finance
  • General Business,Management and Accounting


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