An efficient data-driven GAP Analysis identifies a brand\u2019s pain points and strategy weaknesses, and gives you a road map to help you navigate the market and reach your goals. <\/p>\n\n\n\n
In this article we\u2019ll explain what is GAP Analysis, provide you with some examples of popular analysis tools, and discuss the four steps for effective data-driven Gap Analysis.<\/p>\n\n\n\n
What is GAP Analysis?<\/h2>\n\n\n\n
Gap analysis is a method of Gap analysis, also known as \u201cneeds analysis\u201d or \u201cneeds assessment,\u201d is a tool for determining business requirements and assessing whether they are being met. Simply said, the Gap refers to the distance between “where we are now” and “where we aimed to be”.<\/p>\n\n\n\n
The analysis process is fairly straightforward, and can be used for both future and existing brands – The current level of performance is compared with the desired level of performance for the relevant brand, product or service. <\/p>\n\n\n\n
The data is collected and analyzed, and a Gap analysis template is generated. A gap analysis template is a visual tool displaying the comparison of actual performance with desired performance. The template is comprised of columns or graphs showing elements of the gap analysis, like the analyzed item (brand, product or service), the item\u2019s current state, the item\u2019s desired state, existing gaps, action items, task assignments, priorities, and more.<\/p>\n\n\n\n
What is GAP Analysis used for?<\/strong><\/h2>\n\n\n\nThe information provided by GAP Analysis is of great importance for effective marketing strategy design, brand innovation<\/a> planning, and gaining a better understanding of performance gaps in processes and strategies already in place. This data will also help determine how to bridge those gaps and enable growth.<\/p>\n\n\n\nEffective Gap Analysis has many advantages –<\/p>\n\n\n\n
- In-depth understanding of a business current operations.<\/li>
- Assessment of marketing and innovation efficiency.<\/li>
- Useful information for resources allocation Improvement.<\/li>
- Rapid and efficient problem diagnosis and finding possible solutions.<\/li><\/ul>\n\n\n\n
The advantages of gap analysis can be different for every business, but a better understanding of strengths, weaknesses and goals often results in improved success rates and growth.<\/p>\n\n\n\n
The 4 Steps of effective Gap Analysis<\/strong><\/h2>\n\n\n\n- Identify current state of affairs <\/li><\/ul>\n\n\n\n
Is it vital to know and understand where you are currently standing with different aspects of the business, such as sales, earnings, customer experience, marketing strategies, brand growth and more. The main objective of this stage is understanding the root of the problem by evaluating everything that is currently being done – to get the \u201cbig picture.\u201d<\/p>\n\n\n\n
It is helpful to choose an area to focus on, like a particular product or a certain department such as customer service and marketing. For example, If the aim is to find out what causes customer frustration, then customer experience analysis data, like NPS score<\/a> or Social Sentiment<\/a> analysis, can come in handy. However, it is possible to conduct a more general analysis. It is up to you.<\/p>\n\n\n\n- Identify where you want to go <\/li><\/ul>\n\n\n\n
In this stage, it is important to have a set of goals or ideals, and know where you want to be within a reasonable timeframe. One way is to use existing innovation plans or marketing strategies to get clear goals and timelines. Another option is to \u201cdream big,\u201d and come up with the most idealistic state for the business. <\/p>\n\n\n\n
Tha main question to answer in this stage is \u2018What\u2019s not happening that should be?\u2019, and try to identify what is missing from that big picture.<\/p>\n\n\n\n
- Identify the gaps – <\/li><\/ul>\n\n\n\n
Here the goal is to find the difference between where you are and where you want to be. Moreover, this part can help figure out why there is a gap in the first place. It is important to look into the existing gap, ask questions about why <\/em>this gap is there, and use data to identify possible causes.<\/p>\n\n\n\nTrue, the current state of affairs can seem inevitable, and goals can feel unattainable. But don’t lose hope.<\/p>\n\n\n\n
- Identify possible solutions – <\/li><\/ul>\n\n\n\n
Figure out which tools and actions will help close the gap. It is also worthwhile to establish a clear strategy for implementing the chosen solutions and bridging the gap. It\u2019ll help get everyone on board and make the goals a little more achievable.<\/p>\n\n\n\n![\"How](\"https:\/\/www.revuze.it\/wp-content\/uploads\/2020\/06\/How-to-conduct-a-gap-analysis-1024x496.png\")
<\/figure>\n\n\n\nTypes Of Gap Analysis<\/strong><\/h2>\n\n\n\nBelow we will list 4 popular types of gap analysis, each one has it’s own advantages and disadvantages so before using one, you need to carefully ask yourself what are your KPIs.<\/p>\n\n\n\n
SWOT analysis <\/h2>\n\n\n\n
this is one of the oldest and most popular GAP Analysis tools. The initials stand for strengths, weaknesses, opportunities, and threats. This type of analysis, which can be done both quantitatively and qualitatively, helps determine internal and external threats and evaluate the competition.<\/p>\n\n\n\n
Fishbone diagram <\/h2>\n\n\n\n
Effective Gap Analysis has many advantages –<\/p>\n\n\n\n
- In-depth understanding of a business current operations.<\/li>
- Assessment of marketing and innovation efficiency.<\/li>
- Useful information for resources allocation Improvement.<\/li>
- Rapid and efficient problem diagnosis and finding possible solutions.<\/li><\/ul>\n\n\n\n
The advantages of gap analysis can be different for every business, but a better understanding of strengths, weaknesses and goals often results in improved success rates and growth.<\/p>\n\n\n\n
The 4 Steps of effective Gap Analysis<\/strong><\/h2>\n\n\n\n
- Identify current state of affairs <\/li><\/ul>\n\n\n\n
Is it vital to know and understand where you are currently standing with different aspects of the business, such as sales, earnings, customer experience, marketing strategies, brand growth and more. The main objective of this stage is understanding the root of the problem by evaluating everything that is currently being done – to get the \u201cbig picture.\u201d<\/p>\n\n\n\n
It is helpful to choose an area to focus on, like a particular product or a certain department such as customer service and marketing. For example, If the aim is to find out what causes customer frustration, then customer experience analysis data, like NPS score<\/a> or Social Sentiment<\/a> analysis, can come in handy. However, it is possible to conduct a more general analysis. It is up to you.<\/p>\n\n\n\n
- Identify where you want to go <\/li><\/ul>\n\n\n\n
In this stage, it is important to have a set of goals or ideals, and know where you want to be within a reasonable timeframe. One way is to use existing innovation plans or marketing strategies to get clear goals and timelines. Another option is to \u201cdream big,\u201d and come up with the most idealistic state for the business. <\/p>\n\n\n\n
Tha main question to answer in this stage is \u2018What\u2019s not happening that should be?\u2019, and try to identify what is missing from that big picture.<\/p>\n\n\n\n
- Identify the gaps – <\/li><\/ul>\n\n\n\n
Here the goal is to find the difference between where you are and where you want to be. Moreover, this part can help figure out why there is a gap in the first place. It is important to look into the existing gap, ask questions about why <\/em>this gap is there, and use data to identify possible causes.<\/p>\n\n\n\n
True, the current state of affairs can seem inevitable, and goals can feel unattainable. But don’t lose hope.<\/p>\n\n\n\n
- Identify possible solutions – <\/li><\/ul>\n\n\n\n
Figure out which tools and actions will help close the gap. It is also worthwhile to establish a clear strategy for implementing the chosen solutions and bridging the gap. It\u2019ll help get everyone on board and make the goals a little more achievable.<\/p>\n\n\n\n
<\/figure>\n\n\n\nTypes Of Gap Analysis<\/strong><\/h2>\n\n\n\n
Below we will list 4 popular types of gap analysis, each one has it’s own advantages and disadvantages so before using one, you need to carefully ask yourself what are your KPIs.<\/p>\n\n\n\n
SWOT analysis <\/h2>\n\n\n\n
this is one of the oldest and most popular GAP Analysis tools. The initials stand for strengths, weaknesses, opportunities, and threats. This type of analysis, which can be done both quantitatively and qualitatively, helps determine internal and external threats and evaluate the competition.<\/p>\n\n\n\n
Fishbone diagram <\/h2>\n\n\n\n
- Identify possible solutions – <\/li><\/ul>\n\n\n\n
- Identify the gaps – <\/li><\/ul>\n\n\n\n
- Identify where you want to go <\/li><\/ul>\n\n\n\n
- Identify current state of affairs <\/li><\/ul>\n\n\n\n