How to do a gap analysis?

A gap analysis involves comparing your current performance with your desired goals to identify the gaps that need to be addressed. This process helps businesses understand where they are falling short and what improvements are necessary to achieve their objectives. Conducting a gap analysis is crucial for strategic planning, process improvement, and resource allocation.

Tips to do a gap analysis

Here are some tips to consider when you’re trying to do a gap analysis:

1. Define Clear Objectives: Establish clear and specific objectives that you want to achieve. This will help you accurately measure the gaps between your current state and your goals.

2. Collect and Analyze Data: Gather relevant data on your current performance. Use both quantitative and qualitative data to get a comprehensive understanding of where you stand.

3. Identify Gaps: Compare your current performance data with your desired objectives to identify the gaps. Focus on key areas that have the most significant discrepancies.

4. Prioritize Gaps: Prioritize the gaps based on their impact on your business objectives. Focus on the most critical gaps that need immediate attention.

5. Develop an Action Plan: Create a detailed action plan to address the identified gaps. Include specific steps, responsible parties, and timelines to ensure effective implementation.

Use Narrative BI to do a gap analysis

Narrative BI is a generative analytics platform that automatically turns your data into actionable data narratives. To do a gap analysis with Narrative BI, follow the steps below:

  • Connect your data source directly to Narrative BI or upload a spreadsheet to the AI Data Analyst tool.
  • Explore the feed of automatically generated insights.
  • Ask questions to uncover strategies and actions to do a gap analysis.
  • Get AI-generated answers, automated reports, and insights.
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Suggested questions to ask AI Data Analyst to do a gap analysis

AI Data Analyst from Narrative BI is an advanced Generative Business Intelligence tool that leverages AI to provide actionable insights from your data. It allows you to upload spreadsheets or directly connect various data sources, ask questions using natural language queries, and get actionable answers. You can use the following AI Data Analyst prompts to do a gap analysis:

What are the key performance areas where we are falling short of our targets?

What specific factors are contributing to the gaps between our current state and desired objectives?

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