Gap Analysis

A Gap analysis is used to determine where shortfalls may be occurring in operations when attempting to achieve pre-determined goals. Gap analysis can be utilized by several departments in a business; marketing, production, and accounting. While the basic principles of gap analysis are applicable, each department will tailor the process to their specific needs. Businesses will use gap analysis to ensure that they are maintaining their competitive edge in an industry; departments will measure how well they are staying on budget for their operations.