Peer mean our colleagues working with us in our 
organisation.
It helps the HR in rating the employees, depending upon 
their performance.

Pear means a group of people working together for common
goal of business and the industry

peer group camparision means comparing the performance of 
one company with its competitor .i.e company of similar 
nature and into same business.

The general meaning of 'peer' means a person thinking in 
the sense of others or thinking from others side.That's why 
the company needs peers to take important decissions.
 
        "Peer group comaprision" means peers of one company 
will compare the business transactions of its competitors 
to reach the maximum profit level.

I didn't have any idea.