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Where do you find inspiration and information for your R&D?

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Research and development (R&D) is a crucial process for any business that wants to innovate, solve problems, and create value for its customers and stakeholders. But where do you find the inspiration and information that fuel your R&D projects? How do you stay updated on the latest trends, technologies, and opportunities in your field? Here are some tips to help you source and evaluate the best ideas and data for your R&D.

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David H. Farb

Professor of Pharmacology @ Boston University | Discovery Science Research | Patent, Pharmacy and Medical Litigation

1 Customer feedback

One of the most valuable sources of inspiration and information for your R&D is your own customer feedback. By listening to what your customers want, need, like, and dislike about your products or services, you can identify gaps, challenges, and opportunities for improvement or innovation. You can collect customer feedback through surveys, interviews, reviews, social media, or analytics tools. The key is to ask relevant and specific questions, and to analyze the feedback objectively and systematically.

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David H. Farb

Professor of Pharmacology @ Boston University | Discovery Science Research | Patent, Pharmacy and Medical Litigation
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I think of research and development as comparable to the need to continually invest in infrastructure before it’s essential. The above AI output focuses on the endpoint of sales to consumer directed products and services but ignores the underpinnings of product (whether tangible or intangible). For example, how the value of intellectual property emerging from disruptive technologies can be assessed before the crest of the market wave.

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2 Competitor analysis

Another way to find inspiration and information for your R&D is to conduct a competitor analysis. This means researching and comparing your competitors' products, services, features, prices, strengths, and weaknesses. You can use online tools, databases, reports, or industry publications to gather and organize this information. The goal is to understand how your competitors meet the needs and expectations of your target market, and how you can differentiate yourself from them or learn from their best practices.

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David H. Farb

Professor of Pharmacology @ Boston University | Discovery Science Research | Patent, Pharmacy and Medical Litigation
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Similar to the above comments, this misses an essential point.! It focuses on assessing what exists in the competitor’s offerings but not the proprietary research and development of a disruptive technology. But we can ask how we can find out about that which is secret. How would AI inform the entrepreneur about the challenge of anticipating emerging technologies?

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3 Market trends

A third source of inspiration and information for your R&D is the market trends that affect your industry, niche, or customer segment. These are the changes, developments, or patterns that influence the demand, supply, or preferences of your potential or existing customers. You can use online platforms, newsletters, podcasts, blogs, or magazines to stay updated on the market trends that are relevant to your business. The aim is to anticipate and adapt to the changing needs and behaviors of your customers, and to spot new opportunities or threats.

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4 Academic research

A fourth source of inspiration and information for your R&D is the academic research that is conducted by universities, institutes, or organizations in your field or related fields. These are the studies, papers, or articles that provide scientific or empirical evidence, insights, or theories on various topics or problems. You can use online databases, journals, libraries, or networks to access and review this academic research. The purpose is to learn from the experts, validate your assumptions, or generate new hypotheses.

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David H. Farb

Professor of Pharmacology @ Boston University | Discovery Science Research | Patent, Pharmacy and Medical Litigation
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This is a large part of the answer to the questions raised above. Yet academic research by its nature is made public even if patented by the university.

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5 Creative brainstorming

A fifth source of inspiration and information for your R&D is your own creative brainstorming. This means generating as many ideas as possible, without judging or filtering them, by using various techniques, tools, or methods. You can do this individually or in a group, online or offline, with or without stimuli. The point is to unleash your imagination, challenge your assumptions, and explore different possibilities.

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6 Experimentation and testing

A sixth and final source of inspiration and information for your R&D is your own experimentation and testing. This means trying out your ideas, prototypes, or solutions in real or simulated conditions, by using various metrics, methods, or tools. You can do this internally or externally, qualitatively or quantitatively, iteratively or incrementally. The objective is to measure, evaluate, and improve your outcomes, and to learn from your failures or successes.

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David H. Farb

Professor of Pharmacology @ Boston University | Discovery Science Research | Patent, Pharmacy and Medical Litigation
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Exactly! Imitation can be effective in many instances but INNOVATION via internal and/or collaborative research and development is high risk but high potential reward.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Where do you find inspiration and information for your R&D?

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1 Customer feedback

2 Competitor analysis

3 Market trends

4 Academic research

5 Creative brainstorming

6 Experimentation and testing

7 Here’s what else to consider

Research and Development (R&D)

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