Google Analytics 4 has introduced a new feature called Benchmarking, designed to help businesses compare their performance with others in the same industry. This tool is particularly useful for gaining insights into how your business stacks up against competitors and identifying areas for improvement.

To start using the Benchmarking feature, you need to enable it through the following steps:

1. Go to Admin > Account Settings in your Google Analytics 4 account,
2. Enable Modeling Contributions & Business Insights.

However, it’s worth noting that the feature may not be available to everyone just yet, so if you don’t see it immediately, it might be on the way.

Google has emphasized that the data used in Benchmarking is encrypted and protected. Only properties with a sufficient volume of users and meaningful data are included in the comparisons. This approach ensures that the benchmarking results are reliable and reflective of industry standards.

The data used for benchmarking is refreshed every 24 hours, allowing businesses to make timely and relevant comparisons. Additionally, you can adjust the peer group based on your industry, ensuring that the comparisons are as accurate and meaningful as possible.

Brais Calvo Vázquez first announced this change on his LinkedIn account.

You can find more details on the official Google page here.