Gap analysis is a process used to identify discrepancies or gaps between current performance and desired outcomes. It is commonly used in business to identify areas where improvements can be made to increase profitability or productivity. By comparing current performance against a desired goal, gap analysis helps organizations identify where they need to focus their resources to achieve their objectives.
For example, a company may use gap analysis to assess the effectiveness of its marketing strategy by comparing its current market share to its desired market share. By identifying any gaps between the two, the company can adjust its strategy to better align with its goals.
Overall, gap analysis is a valuable tool for organizations to assess their performance and identify areas for improvement.