Knowledge gap is the disparity between what we know and what we need to know. Most of the information is imperfect in the real business world. The question that arises when leaders make decisions is the cost and its valuation. It is time consuming to know whether the decision is good and valuable. Organizing an internal effort to determine what reservoirs of knowledge exist inside the company and sometimes it exist in unexpected places, channeling people and published market studies are often good for the market. In case of an outside research partner, they must be open on methodology, listen to you and must be on the same platform on the basis of the timing and level of precision. It may be happen that you are in a stage where nothing more than validation is required to move to the next step. Common sense is most important to bridge the gap and move toward perfect knowledge which is both acceptable and appropriate. Read more at:
http://www.1st-resource.com/blog/market-research/the-knowledge-gap-and-common-sense/