Gap Analysis Matrix
The Gap Analysis Matrix assists in business projects that are in the process of being completed, but do not yet possess all of the necessary information and data. By determining what data/information is already collected and what needs to be found, the project will be easier to organize and finish, assuring that no essential content is missing. This essential content is held in something called the EDW - enterprise data warehouse. By idetifying what we already know, it becomes easier to identify which pieces of information are missing.
At a very high level, the Gap Analysis Matrix is used in the context of business.
What is the Gap Analysis Matrix?
A visual explanation is shown in the image above. The Gap Analysis Matrix can be described as a matrix with the following quadrants:
- Understanding of Business: Contains the information that is already known about a business.
- Lack Understanding of Business: Contains the information that needs to be discovered about a business.
- Have in EDW: Contains the data that is already present in the enterprise data warehouse (EDW).
- Need in EDW: Contains the data that needs to be in the enterprise data warehouse (EDW).
What is the purpose of the Gap Analysis Matrix?
If you have a career in business, it is possible that you will eventually asked to manage a project that requires a large amount of data, general information, and knowledge about the business itself. The Gap Analysis Matrix helps identify the business concepts, techniques, or guidelines that you may need to become familiar with in order to successfully complete the project. It also determines what data is missing from the materials needed for the project. There are two categories into which the Gap matrix divides: Business information and EDW data. EDW stands for "enterprise data warehouse", which is a system that holds data from various sources. By listing what you already know, it will then be easier to discover the missing information. Further organizing this information into categories, then deciding to learn the concepts and collect the data needed, will assure that any work done for your project goes smoothly.
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What templates are related to Gap Analysis Matrix?
The following templates are categorized as business and are therefore related to Gap Analysis Matrix: Kraljic Matrix, Risk Analysis Matrix, Risk Value Matrix, TOWS Analysis Matrix, Innovation Management Matrix, PESTLE Analysis Template, Stakeholder Analysis Grid, Customer Satisfaction Matrix. You can browse them using the menu above.
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