How do you measure up?
Benchmarking is an age-old surveying process to measure altitude in relation to a reference point, but as applied to information technology, the notion of benchmarking can be described as a structured process to compare and contrast performance of a technical solution, function or process, to identify inefficiencies and untapped improvement potential. Axilogic is expert at Performance Benchmarking which can be an ideal place to begin any property assessment change initiative.
There are several ways in which Axilogic can complete performance benchmarking. VaaS can be used for benchmarking purposes wherein the performance of existing CAMA software can be compared to VaaS to determine if a sufficient business case exists to replace older solutions. Performance benchmarking can also be directed at statistical model performance, where VaaS performance can be compared to other solutions on any number of dimensions, including on the basis of the industry standard measure of uniformity or equity of appraisal, the Coefficient of Dispersion (COD). Performance benchmarking studies can be created with real jurisdictional data to determine if the VaaS solution produces more equitable, and therefore defensible, valuations.
From a broader perspective, benchmarking studies where your mode of property tax administration is assessed and compared to similar jurisdictions on the basis of transparency, simplicity, consistency and procedural fairness can be conducted. By doing so, you may obtain a scorecard of how your jurisdiction compares and where enhancement opportunities exist.
AXILOGIC ASSESSMENT CORPORATION, 10620 YONGE STREET, BOX 30608, RICHMOND HILL, ON, CANADA, L4C 3C9
Axilogic Assessment Corporation is a proud member of Axilogic Group (www.axilogicgroup.com)