Question
Some examples of successful gap analysis include identifying areas for improvement, defining the end goal, and understanding the gap. For instance, if a company has been growing sales at 10% each year, but they suddenly drop to 8%, the end goal might be to bring sales back up to the 10% level or higher. The gap analysis would involve understanding why the drop occurred and what steps need to be taken to achieve the end goal.
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Identify the area(s) for improvement – understand where you want to apply a gap analysis model, and what you seek to get out of it. From there, you can assess what type of gap analysis you want to apply to the situation. Identify the area(s) for improvement – review where you are today. By looking at the current state, you determine your starting line for improvement. Gather all relevant business intelligence and document all of the contributing factors that created the current state. Be specific and detailed in this documentation. Define the end goal – define quantifiable goals to strive for. One way to determine your ideal future state is to look at industry standards or the bar set by the competitors. Another way to do this is to look at historical data for your company. "If you've been growing sales at 10% each year, but they suddenly drop to 8%, the end goal might be to bring sales back up to the 10% level or higher," the experts at The Blueprint say. Understand the gap – compare ...
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