Gap analysis software varies depending on the company and metrics needed. It compares actual performance to potential performance, determining gaps between resources and goals. Popular options include spreadsheets and proprietary software, but customization may be necessary. Effective software compiles data and provides actionable plans.
The best gap analysis software will vary depending on the company and the metrics that need to be determined. Many gap analysis software programs help users compare a company’s actual performance to its potential performance. The purpose of gap analysis is to determine the differences, or gaps, between the resources a company has available and the resources it needs to achieve its goals. A gap analysis software program should be able to provide users with a side-by-side comparison of needed and available resources and allow users to make assessments based on the results. Once the assessments are made, the user will be able to create a plan that will hopefully narrow the gap between the company’s current position and its future goals.
While there are a number of gap analysis software programs available on the market, one of the most popular programs is simply a gap analysis spreadsheet. This basic form of gap analysis software is extremely versatile and cross-platform compatible. The spreadsheet serves as an effective way for users to record data from each business area being measured and get a visual representation of the immediate steps that need to be taken to achieve future goals.
Proprietary gap analysis software programs are specifically designed to measure key performance indicators, performance scores, and revenue levels. The advantage of a proprietary software program is that it was built to conduct a wide variety of gap analyzes without any technical input from the user. The downside to this type of software is that rarely does one program provide all the metrics that every business that uses it needs. This lack of customization can be detrimental for some purposes, and companies choosing to use a proprietary gap analysis software application should ensure that it is able to be customized for their specific needs.
An effective gap analysis software program should be able to compile a variety of data and provide the user with the critical information needed to create an actionable plan of action to achieve future goals. The best gap analysis software can come in the form of a spreadsheet, survey, or proprietary software program. The one critical requirement for this type of software program is that it be able to visually represent the business plan and related resource gaps.
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