A Technical Product R&D
What is a technical product R&D? How do you do one within your company? And what are the benefits of this process? If you want to know, then read on.
A Technical Product R&D
A technical product r&d refers to a process wherein the development team (and relevant business stakeholders) focus on driving innovation in the features and functions of the product rather than improving the way it works.
This is done via several iterations, with a particular focus on getting as much feedback as possible from potential end-users. Why even consider such a process?
In an attempt to answer this question, we must first understand why you might want to keep improving the way your product works. The reasons are many, but they can generally be grouped into one of two categories:
1. To fix a problem that is already known or has been identified. This is a typical “bug fixing” scenario.
2. To try and create new value for both existing and future users of your product. This is usually driven by emerging trends within your sector or market.
How does a technical product R&D fit in?
A technical product R&D involves taking a look at your product and figuring out what you can do. This is to improve it technically speaking. That is, from an engineering point of view.
Then, this type of R&D will allow you to look beyond your current limitations and constraints. And then, try to figure out what lies beyond them. What’s possible, given certain technological advancements or certain combinations of different technologies.
It’s not about creating new features or functions, however. It’s more about looking at what you already have and trying to find ways to improve them. So, this could be via new features or different engineering solutions.
What Are the Benefits of Technical R&D?
The benefits are numerous:
1. You get a chance to show off your engineering prowess. This is using every technological tool available to improve your base product (or set of products).
2. Then, you get a chance to show that you’re innovative and willing to take risks Even if there isn’t an immediate business case for such innovations. As long as you can demonstrate that there’s some sort of long-term benefit.
3. Also, you get a chance to learn more about your customers and potential customers. Their expectations, requirements, pain points, etc.
4. Moreover, you get feedback on how well you’re able to meet those needs and expectations. Even if only in theory rather than in practice
5. Further, you get a chance to build something completely new (and hopefully useful)
6. Finally, if you’ve done a good job with the R&D process, then you get to work on something new and different, which can be a lot of fun.
If you’ve been looking for ways to improve your product, then a technical product R&D might just be the answer. What do you think? Do you think your product could use a technical R&D process? If so, how do you plan to approach it? Let me know in the comments below!