Tag Archives: connect

Innovation Lessons from the Outcome of the Netflix Prize

You probably heard about the contest that Netflix started in 2006 to crowdsource improvements in their recommendation algorithm. They offered a $1 million prize to anyone that could improve the accuracy of the recommendation algorithm by at least 10%. In 2009, a team of people hit the target, and won the prize. Awesome, right? The team got their big check, Netflix got their performance improvement, and everyone ended up happy. Well, sort of.

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