FICO GAP analysis clarification

[jolinchew]

I think GAP means REICE change, is it correct?

for example, if we can use SPRO(IMG) to configure or change/create master data, LSMW then meet the requirement, then it is not a GAP. if we need to change user exit, develop a report painter or ABAP report, then it is a GAP, am I correct, did I miss anything for GAP analysis?