Proof of Concept (POC)
Definition - What does Proof of Concept (POC) mean?
A proof of concept (POC) is a demonstration, the purpose of which is to verify that certain concepts or theories have the potential for real-world application. POC is therefore a prototype that is designed to determine feasibility, but does not represent deliverables.
Proof of concept is also known as proof of principle.
Techopedia explains Proof of Concept (POC)
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.