Term “Research and Development” often called R&D refers to creative work undertaken on a systematic basis in order to increase the stock of knowledge, including knowledge of man, culture and society, and the use of this stock of knowledge to devise new applications. Research leads new discovery and turning that discovery into a useful product means development.
Software is a growing industry and hence research and development is essentially important in software industry. Software R&D is fundamentally different from R&D in other industries. The software R&D process differs from other technology R&D in that there is no tooling or manufacturing phase of product development, rather, when R&D is finished, the program is ready to copy, ship and use. Thus when we talk about building a software R&D capability, it’s actually capacity to produce software products and/or services, i.e., to be a player in the industry.
