The acronym R&D stands for Research and Development, which is a critical function in technology businesses. R&D involves systematic investigation and experimentation aimed at developing new products or improving existing ones. This process often leads to innovation, helping companies stay competitive by bringing fresh ideas to market. It typically includes activities such as feasibility studies, prototype creation, and user testing. R&D is essential for fostering technological advancements and driving growth, as it allows businesses to explore new opportunities and respond to changing market demands.