Research and development is something that almost every company, especially in the IT industry, needs these days in order to stay competitive on the market and keep a high customer retention rate. It is a powerful tool that is absolutely necessary for any company regardless of its size - be it a startup or a global enterprise. What makes it so in demand? Basically, research and development is a strategy of doing thorough research on the market, learning about your target audience their needs and preferences and then adjusting your already existing product to those needs or creating a totally new one according to them. R&D management is a sure way to easily improve your business strategy and eventually gain more profits. It is an especially relevant tool to those companies or even startups that are only starting out on the market and need a boost.