Performing a gap analysis can help you make changes for the better and identify weaknesses. Small and mid-sized businesses can benefit from a gap analysis when determining the best way to allocate resources. Once you have uncovered the “gaps” through a gap analysis report, it becomes easier to focus on and address problems that may be affecting your target objectives.
In a gap analysis, the gap is described simply as “the space between where we are, and where we want to be.” To explain the first part of the statement, you must consider the present situation of your business. Important current factors such as attributes, performance, and employee competencies play into the overall productiveness of a business. The second part of the statement focuses on the desired future of these current factors. The distance or space between these two points is known as the gap and a gap analysis is used as a tool to uncover and then fill the gap by making necessary changes.