Entertainers and sporting organisations compete for eyeballs and leisure time. Contemporary audiences have more options than ever – and more channels than ever – to select from. In order to maintain and build their fanbase, Formula 1 is using the latest big data and analytics technologies to stay ahead – and win the race.
Likewise, Old Mutual iWYZE believes that being smarter about driving can lead to a great savings and great wins – especially for savvy drivers.
Digital platform
Combining on-demand video, websites and social media channels, there is a big push for Formula 1 to retain and expand their audiences. Digital media is the most basic and simple of the technologies they are currently deploying, but this is key to retaining audiences for them. Integrating their digital platforms will keep the fans entertained in relevant, accessible ways. Millennials especially are increasingly choosing to interact with their chosen sporting providers in new ways.
Historical data – and new capabilities
Formula 1’s new technological deployment begins, ironically, 65 years ago. That is how much historical race data they have available. With that much information at their disposal, it is a relatively simple matter for data scientists to build models. These models are then the framework through which they run the numbers – and with Machine Learning – the models are iterated automatically until statistically likely outcomes are presented.
This can help teams develop strategy – and even predict the outcomes of races. It becomes possible to optimise pit stops by the rapid selection – using several hundred thousand individual data points – of the perfect time window.
Engineering simulations
Even the design of new Formula 1 cars can benefit from machine learning capabilities. New car specifications are fine tuned by running fluid dynamics engineering simulations on the designs, ensuring that the vehicles are more aerodynamic than ever before.
Heading for the cloud
Formula 1 has selected AWS (Amazon Web Services) to be their cloud provider for all this number crunching. This enables them to rapidly scale all the computations involved – from streamlining their entertainment platforms, to designing new cars, to calibrating strategies, all the way to predicting racing outcomes.
Even old drivers can learn new tricks
Smart drivers will always find ways to optimise their time, and their budgets. In fact, there may be a trick to connect with Old Mutual iWYZE about affordable, quick car insurance right here. It will only take minutes to get an affordable quote in hand from one of SA’s most reliable and trusted car insurance providers.
Old Mutual Insure Ltd is an authorised FSP (FSP12). Risk profile dependent. Terms and conditions apply.
Source:
https://www.forbes.com/sites/stevemccaskill/2018/07/02/formula-1-uses-machine-learning-to-deliver-in-race-predictions-to-fans/#7cd498718ffe
