How can gap analysis help in identifying the need for innovative product features?

Gap analysis can help in identifying the need for innovative product features by highlighting the difference between the current state of your product and the desired state. This process involves identifying the gap, investigating the causes for that gap, and selecting actions to fix it. If the gap analysis reveals that your product is lacking innovative features that make your brand stand out, it indicates a need for innovation. This could involve hiring new talent to revamp your product design and development strategies, implementing the selected actions, studying the results, and standardizing the system for continuous improvement.

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To get there, follow the gap analysis procedure across six steps. First, formalize a plan. Identify the gap, investigate the causes for that gap, and select actions to fix it. In our example scenario, you are missing innovative product features that make your brand stick out. Your previous offering provided a useful service but it's not attractive enough to dominate today's market. So, you need to hire new talent to revamp your product design and development strategies. Then, implement the selected actions, study the results, then standardize the system to continuously improve. (Slide 3)

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Gap Analysis (Part 2)

How do you get from where you are now to where you want to be? Use our Gap Analysis presentation to assess and bridge the gap between your team's curr...

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