Includes terms related to the systematic investigation and development of new products, services, or processes.
The process of evaluating and refining a product, service, or system to make it better.
Protection against unauthorized access, misuse, or hacking of information housed in digital systems, via software or physical means.
Research and Development is the process of creating new products, improving existing products, and discovering new ways to do business.
Rapid Prototyping is the process of quickly fabricating a scale model of a physical part by means of computer-aided design (CAD).
R&D Spending is the amount of money a company spends on research and development in a given period to innovate new products.
R&D Innovation refers to the practice of applying new talents, skills, or processes to generate value through the products and services developed by Research & Development.
Predictive Analytics involves using statistical algorithms, machine learning, and other techniques to identify future patterns.
A patent is an exclusive right to use, make, and sell an invention. It means that the invention is unique and original.
Outsourcing is the practice of obtaining goods and services from a foreign supplier, rather than an internal source within a company.
Framework for knowledge creation and use within a nation and the external spillovers of innovation.
Experiential Learning is hands-on skill acquisition through reflection on doing.
Capital Projects & Infrastructure refers to large-scale investments in physical assets like buildings, networks, and facilities.
Prototyping is the process of creating a physical or virtual representation of a product, system or service to evaluate its usability or performance.
A physical prototype is a tangible representation of an idea or concept, designed to help showcase, test, develop and evaluate its potential for use.
A focused prototype is a prototype with only one or two attributes of the final product, which is used to answer specific questions.
Experimentation is the process of testing ideas, concepts and solutions in order to measure their effectiveness and discover new insights.
A comprehensive prototype is a model of a product or system that contains most or all of the attributes of the final product, allowing it to be tested for functionality.
An analytical prototype is an initial version or model of a product with essential functionalities to be tested, measured and observed.