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How to Conduct Conjoint Analysis2

Gap Analysis Template

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What is Gap Analysis?

Gap analysis is a method of evaluating the performance of a business by comparing its actual performance with its potential or desired performance. It is used by organizations to determine whether the organization is in line with its goals and is allocating its resources effectively. It can also be leveraged to identify how the gap between actual and desired performance can be bridged. 

What is a Gap Analysis Template?

A gap analysis template provides a visual framework that illustrates the gaps between actual and desired performance. Every type of organization can benefit from the use of a gap analysis template as it helps depict performance gaps so that they can be presented to employees and teams. A good gap analysis template clearly outlines problem areas where there is poor use or allocation of resources. 

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Gap Analysis Templates

Gap analysis templates vary depending on the type of gap analysis you want to perform. Let’s take a look at three kinds of gap analysis templates:

  1. Product Gap Analysis Template: Used to identify the gaps between actual product performance and desired product performance (what the consumer wants). 
  2. Finance Gap Analysis Template: This tool can be used by managers to outline the organization’s current financial situation with their financial goals. It is a useful tool to achieve sales and revenue targets. 
  3. Individual Gap Analysis Template: The individual gap analysis template can be used by anyone who wants to improve their personal skills and performance in their career or in their life. 

 Product Gap Analysis Template 

Current State

Desired State

Gap

Initiatives 

Example: App is only compatible with Android OS

Example: App should be compatible with Android OS and Apple iOS

Example: Not compatible with all operating systems

Example: Make the app compatible with Apple iOS

    
    
    

Finance Gap Analysis Template 

Objective

Current State

Desired State

Gap 

Actions

Example: To increase profit margin

Example: 30% profit margin

Example: 35% profit margin

Example: 5% profit margin

– Minimise costs by purchasing newer cost-effective technology and capital to achieve an increased profit margin

     
     
     

Individual Gap Analysis Template 

Skills (Marked out of 10)

Current State

Desired State

Gap

Initiative

Communicating

7

8

1

Work on succinct communications

Meeting Deadlines

6

9

3

Create schedules to manage time more effectively and meet all deadlines

Negotiating

3

8

5

Have a thorough understanding of situations so that negotiations can be carried out effectively

Leadership

4

7

3

Empower and inspire teammates to work at their best

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Benefits of using a Gap Analysis Template

Some benefits of leveraging a gap analysis template are: 

  • Enhances Customer Satisfaction: Gap analysis allows organizations to identify gaps in performance so they can be addressed to enhance customer experience (CX) and satisfaction. 
  • Provides a Competitive Advantage: Identifying and filling gaps with the help of gap analysis can help organizations obtain a competitive advantage.
  • Easy to Understand: A gap analysis template helps create a visual representation of the gaps between actual and desired performance, making problems and solutions easier to comprehend. 
  • It is an Instrument in Employee Benefit Programs: Gap analysis is frequently used as a tool to develop employee benefit programs. 

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FAQs on Gap Analysis

Gap analysis is used to evaluate the performance of an organization by comparing its actual performance with its desired performance.

A gap analysis template is a visual tool that provides a framework to clearly illustrate the gaps between actual performance and desired performance.

A few advantages of using a gap analysis template are: 

  • The template simplifies the understanding of the gaps identified
  • The template acts as a tool to enhance customer satisfaction
  • When used correctly, the gap analysis template can be used to gain a competitive edge within the industry

Gap analysis is a versatile method of evaluation, hence there are many different templates available for its use. Some common gap analysis templates are finance gap analysis templates, product gap analysis templates, market gap analysis templates, and individual gap analysis templates.

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