Keywords: market assessment, marketability, mathematical technique, mathematical programming, software industry, venture management, project selection, technology push, need pull
Market analysis of mathematics-based software in an expert-founded venture
The application of mathematical techniques and the development of related application-ware tend to attract highly educated information scientists trained by mathematics-based education systems, and this preference affects their behaviour in software industries. This paper reports the process and result of market assessment of a mathematical programming (MP) package for a software house to decide whether the MP package development is worth the allocation of the workforce or not. The process started with a literature survey with the aid of science information databases and proceeded to interviews with experts in the "real world". This process revealed a gap between technique-based and reality-based ways of judgement and the biased behaviour of experts in different fields. Lessons learned from this process are discussed with a view to the implications for high-tech venture management.