Table of Contents

Introduction:

Hi my dear comrades welcome to OopiriFive blogging platform post (12). In these blog I describe about Research and development department Terms which play key role in every business.

As well as there is major reason to explain these business words and that is getting of Awareness on business to each and every person because these glossary words are basic fundamental information where everyone to know about these words.

Research and Development Notes

General R&D Terms:

Innovation: The innovations mean development of new ideas, new products and processes which provides the value.
Prototype: The prototype indicates the sample or model which used for testing these known as prototype.
Feasibility study: When the scientist start analyzing to explain practically and viability about project these named as feasibility study.
Proof of Concept: the proof of concept means describing of feasibility or method in deep principle for clarity to understand.
Intellectual property: The definition of intellectual property means when the scientist or business owner taking of legal copyrights and patent rights on their innovation products or designs to overcome problem of copycat system. These known as intellectual property.
Technology transfer: The process where transferring of valuable information and skills to wide range of people for purpose to get awareness for public to develop their knowledge.
Disruptive innovation: when the companies create multiple products and release one after one at that time breakthrough innovation happen and new market will open which alters existing one.

Research and development process:

Coming to the research and development process there is five types of process will be there and those are

Basic Research: when the scientist explore the work and grabbing of information without doing practical implantation. These known as basic research.
Applied Research: The applied research means when the creators get solution for specific and practical task.
Development: The development indicates where the creating of new products or processes as well as improving of products.
Experimental design: The experimental design means when the scientist or creator make a systematic schedule planning for doing experimental designs and analyzing results.
Testing and validation: the testing and validation means where the process of scientist team checking quality and performance from product and give warranties and approvals to that product.

Research and Development Notes

Research and development methods:

Forwarding to this point of research and development the scientist do that research in enlist of methods to grab the data in different way. And those methods are

Quantitative research: The scientist does the research in the form of using numerical data to analyze trends and test hypotheses.
Qualitative research: The scientist does the research in the form of ideas, opinions and motivations as well as they do not use numerical data because it is completely non numerical data.
Empirical research: The scientist does the research in the form of observations, experiences and experiments rather than theory part.
Simulation: In this simulation the scientist utilize the models to replicate and study the system or process.
Benchmarking: In these benchmarking the scientist will compare their products to other company’s products, processes for purpose of quality and other standards.

Research and Development Notes

Key role playing members in research and development team:

Principal investigator: the principal investigator means who the person responsible for planning and managing for research project. That person named as principal investigator.
Research scientist: where this research scientist are implenting experiments and studies to generating of new knowledge to people.
Data scientist: these people are experts in analyzing data sets which play key role entire R&D decisions.
Research and development engineer: these people are applying scientific principles to developing of new products.
Project manager: this person guides and makes a plan with some time to complete the project within budget.

Research and Development Notes

Research and development metrics:

Moving into Research and Development metrics in this point the basic explanation gives about where how much budget invested term name and how much revenue generated from R&D name.
R&D Intensity: the R&D intensity means when companies or industries invested in percentage of revenue this known as R&D Intensity.
Time to market: when the company do the research from starting to product launch these time duration indicates Time to Market.
Return on Investment: where the getting of revenue from research development expenditure these known as Return on investment.
Patent count: when the scientist innovate new products they will take patent rights files and numbers of products they have number of patent files this known as patent count.

Research and Development Notes

Challenges in Research and development:

Coming to this point where companies or industries face some challenges from research and development department in society where in matter off high cost investments, Risk of failures, Time consuming as well as intellectual property.
High cost: the companies invest lot money in R&D to innovate products at that time the scientist do the multiple trails while using budget to create new product. So in this process the scientist gives some uncertain outcomes.
Risk of failures: when the scientist do the trails to create new products while taking risk but it may go fail of product this known Risk of failure.
Intellectual property issues: when the other companies make a decision to kept same name for easy market to sell at that time we can break that company while using intellectual property marks like Trade mark, Registration mark.

Research and Development Notes