What is the purpose of prototyping in software development?

Prototyping in software development serves the important purpose of testing ideas and gathering user feedback. By creating prototypes, developers can build early models of the software that demonstrate core functionalities and features. This allows users to interact with the product concept before it is fully developed. The feedback collected during this process is invaluable, as it helps identify potential issues, allows for adjustments in design and functionality, and ensures that the final product meets user needs and expectations. This iterative process fosters communication between developers and users, ultimately leading to a more effective and user-friendly final product.

The other options do not capture the essence of prototyping accurately. Creating a final product without any feedback undermines the iterative nature of software development. Finalizing project requirements before development doesn't allow for adaptations based on actual user experience. Lastly, ensuring compliance with industry standards is important, but not the primary purpose of prototyping.