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The use of recent advances in resonance Raman spectroscopy studies on isolated carbon nanotubes and the scientific knowledge achieved so far from these studies is discussed in the context of advancing carbon nanotube-based technology. Changes in the Raman spectra can be used to probe and monitor structural modifications of the nanotube sidewalls that come from the introduction of defects and the attachment of different chemical species. The former effect can be probed through the analysis of the disorder-induced Raman modes and the latter through the upshifts/downshifts observed in the various Raman modes due to charge transfer effects.