Gap Analysis
Gap Analysis
Gap Analysis is a strategic planning tool used to identify the difference between the current state of a business or project and its desired future state. It involves assessing performance, capabilities, or processes to determine areas that need improvement to achieve specific goals.
Examples:
- Sales Performance: A company analyzes its current sales figures and compares them to projected targets. If there’s a significant gap, it may implement new training programs for the sales team.
- Customer Satisfaction: A business surveys customers and finds a lower satisfaction rating than desired. The gap analysis leads to initiatives like improving customer service or product quality.
Cases:
- Technology Implementation: A software company may find a gap between current software capabilities and user expectations, prompting them to upgrade features.
- Market Positioning: A retail brand conducts a gap analysis to determine its Market Share versus competitors, leading to a strategic rebranding effort to capture more customers.