On Research and Business

People in business often know little the articles of academia and perhaps even shy away from things with the shine of the academy. People in research often know little of P/L statements and are lost in the jungle of ideas. Yet, what's fascinating is that when you look closely, you will discover both arenas are mastered by those who can systematically answer questions.

Doing science is simply answering questions in a manner that allows you a certain degree of confidence in the answer. Precisely what is needed in business. Business leaders build systems to serve the customers and need to know what works and why. Sometimes businesses guess and watch what happens and apply little rigour to explaining what they observe. This leads to unpreditable results. The scientific method takes away that uncertainty.

Reviewing prior art is a key part of a researcher's skillset. Businesses can benefit by looking at academic research and adapting the insights to the problems they encounter while serving their customers. An academic's sole function is to find problems and explore solutions. They are in the business of generating knowledge. Business operate to create profit. When you combine insight and a problem in the market you have the makings for a highly profitable business.

A research informed business is one of depth and competitive advantage. A market informed researcher knows the real problems facing the world and where to focus their energies. In the age of AI, our greatest success in the software industry will be at the intersection of research and business.