Definition
Gap analysis, also called "need-gap analysis," is a management tool that looks at the "gap" between a company's goals and its actual performance and attempts to determine how that "gap" can be closed. What makes gap analysis unique is that it combines quantitative and qualitative methodologies. Forecasts generally involve some sort of quantified, and thus objectively measured, variable, whereas "how the gap can be closed" relies on qualitative reasoning and brainstorming. This process is also called "backward chaining" logical sequences.
Many Faces
While gap analysis may seem like a fancy word for brainstorming ways to improve specific variants, gap analysis has many applications. For instance, gap analysis as a concept is frequently applied to marketing, both as a way to evaluate the marketing mix and as a way to identify new and/or underserved niche markets. Gap analysis is such an effective tool that its use can be seen in environmental studies and conservation biology. Need Gap Analysis