Introduction:

POC is an abbreviation of “Proof of Concept”. It is basically a demonstration, whose purpose is to verify and confirm that some particular theory or concept is possible and that it can be used and applied in the real world situation. So It can also be dealt as a prototype of some project or theory which is designed in order to check that how much feasible a particular theory or concept is. Another term used for proof of concept is proof of principle which delivers the same meaning as POC.

Explanation:

The term proof of concept comes with different interpretations for every field. The interpretation might be different but the main objective of POC is same i.e. to find the solution of technical problems and to apply the theories and concepts to the real world situation. This tool is very much useful from business perspective, as it can be used to check the financial viability of new startups. It involves a lot of research and reviews with solid justifications of each concept. In order to evaluate the effectiveness of that new startup, its revenue model is developed. These startups also present the development cost and different strategies to run their business successfully in this tough competition. So POC can be a useful tool for a business to evaluate its strengths and weaknesses and compare it with their planned strategies and goals. POC is similarly used in the field of short films and digital arts by making prototypes of animations or device and to check whether they work properly or not. POC can be efficiently used if the research work is done extensively and properly. Incomplete research can never give good results of POC resulting in wastage of time and money.