What is white space analysis?

White space analysis is a strategic assessment used to identify gaps or opportunities within a market, business, or product offering that are currently unaddressed. It involves examining existing services or products to uncover areas where customer needs are not being met or where competition is lacking. By focusing on these "white spaces," organizations can innovate or expand their offerings to better serve customers and gain a competitive advantage. This analysis often informs strategic planning, marketing strategies, and product development initiatives.