Level: Intermediate
A keyword gap analysis compares your ranking or targeted keywords against a competitor's, revealing the terms they're capturing that you currently aren't.
The Excel Technique
With both lists in separate columns, a formula like =COUNTIF(CompetitorList,A2)=0 flagged next to your own list identifies which of the competitor's terms don't appear in yours. Conditional formatting or a filter on that TRUE/FALSE column then isolates the actual gap list for review.
Example Scenario
You export your own 400 ranking keywords and a competitor's 550 ranking keywords into the same sheet. The gap formula reveals 180 terms they rank for that you don't touch at all — a direct, prioritized content opportunity list.
Where This Fits in Your Keyword Research Process
The COUNTIF-based gap formula works fine for a few hundred rows, but it gets noticeably slower recalculating across several thousand rows in each list, which is where a dedicated comparison tool becomes the more practical choice.
Next step: Use List Difference (Keyword Gap Finder) from SeoWolf's Notepad to generate the 180-term gap list directly from your two exports before touching Excel at all, skipping the COUNTIF formula entirely and pasting a ready-made opportunity list straight into your content plan.