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The word 'benchmarking' is the present participle, present tense of the verb to benchmark. The present participle of the verb also functions as an adjective and a gerund, a verbal noun.

The word 'benchmarking' is a closed compound word.

The verb to 'benchmark' means to evaluate something by comparison with a standard.

The word 'benchmark' is also a noun, a word for a thing that can be used as a way to judge the quality or level of similar things; a word for a permanent mark used as a reference point to measure or judge quality or level in the future.

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