Proof of Concept (POC)
Proof of Concept is a general approach that involves testing a certain assumption in order to obtain confirmation that the idea is feasible, viable and applicable in practice. In other words, it shows whether the software product or its separate function is suitable for solving a particular business problem.POC helps to avoid possible technical and other problems in the future, and allow you to obtain valuable feedback at an early stage of the development cycle, thus reducing unnecessary risks.
Proof of concept is a term with various interpretations in different areas. POC in software development describes distinct processes with different objectives and participant roles. POC may also refer to partial solutions involving a small number of users acting in business roles to establish whether a system satisfies certain requirements. The overall objective of POC is to find solutions to technical problems, such as how systems can be integrated or throughput can be achieved through a given configuration. In the business world, POC is how startups demonstrate that a product is financially viable. POC involves extensive research and review, and is submitted as a single package to concerned parties. It includes examination of the revenue model, in which companies show projected revenue from products and services, and indicate development cost, long-term finance projections and how much the service costs to maintain and market. It is an excellent way for a business to evaluate itself internally and at proposed acquisitions and projects.