The Netflix Prize may have just been won! earning two teams a combined $1 million dollars. The goal of this competition was to increase the computing efficiency for the analytical tool used in predictive computations. Set up similar to other technological prized like the X-Prize, it proves once again that Prized based motivations can succeed where normal business needs fail. Space travel, high mileage engines are two other objectives that have been achieved via prized based competitions.
So why don’t we see more of this kind of motivation internally? This is a question I’ve been pursuing for years and it seems that everyone I’ve approached with the question has a similar answer. They just don’t think about implementing it. The idea is to push development into areas in which your normal channels of discovery are failing. The keys to a successful competition are simple:
- A clearly defined goal
- A clear set of metric to measure success
- A reward big enough to make it enticing
- A problem hard enough that it will challenge the best minds
Take an issue your organization can’t seem to solve. Offer up an appropriate reward, say an extra week of vacation. Decide if you wish to set a deadline. Publish the rules widely. Don’t be afraid to reach outside of your normal group. Remember, your normal team has so far failed at this.
You’ll be amazed at what can be accomplished.