A lexer must consider both preceding and following characters to correctly identify keywords, identifiers, and strings in source code.Ignoring whitespace, handling identifiers with numbers, and processing strings are important aspects of lexer development.A lexer generates tokens but does not check syntax or semantics, only recognizing valid language constructs.Understanding regex is crucial for developing lexers, with basic expressions like ".*" used to match double-quoted strings.Flex is necessary for building lexers, with the lexer file containing sections for definitions, rules, and user code.Starting with simple projects like creating a lexer for mathematical calculations helps in understanding lexer development.Defining regex constants and utilizing them in rules, along with proper use of C preprocessor constants, is essential for lexer development.Rules in lexers consist of regex expressions and corresponding actions, defining how tokens are identified.Compiling and running the lexer with Flex and a compiler like gcc allows for testing and validating the lexer's functionality.Extending the lexer's capabilities, such as adding support for more complex operations, can be done to enhance its functionality.