Download a Free Gap Analysis Template
What is a gap analysis?
The definition of a gap analysis, according to BusinessDictionary, is “a technique that businesses use to determine what steps need to be taken in order to move from its current state to its desired, future state.”
It measures the difference between the two different states by forcing the company to consider “what is” and “what should be.” Thereby, the company can create action plans or strategies to close the gap. A gap analysis helps the company move forward and achieve its goals.
A gap analysis can be applied to any business area or at any stage of a project. It contains specific, clear, measurable terms. There are four main types of gap analyses:
- Performance gap analysis – analysis of the difference between expected performance and the actual performance.
- Market gap analysis – analysis of the difference between budgeted sales and actual sales.
- Profit gap analysis – analysis of the difference between targeted profit and actual profit.
- Manpower gap analysis – analysis of the difference between required the number and quality of workforce and actual strength of the company.
For example, a gap analysis is useful when a small business is trying to determine how to allocate resources. Or, in software development, it can be used to map features and functions that currently exists versus featured and functions required in the future.
Download Gap Analysis Template
There are many gap analyses templates available online. You can download a free gap analysis template for Excel and Word from TemplateLAB.