Gap Analysis is the method used to quantify the gap between usage of the product and awareness of the product and/or the market potential of the product. There are various basic analytical techniques that are used.
In Gap Analysis, the comparison is done with your current market situation with your future state that you would want to achieve. To make your project a success, you need to understand what needs to be done to bridge the gap. By conducting Gap Analysis you can find out the things to bridge the gap. Gap Analysis is most useful if conducted at the beginning of the project; nonetheless, you can use it at any time of the project to know your progress. In order to conduct Gap Analysis, we first identify your objective for the project and then we analyze your current situation. Finally, we find out the answer for how to bridge the gap between your current situation and desired future state.