Overstock.com is offering $1 million dollars to anyone who can create a better algorithm for recommending products to their shoppers.
Following Netflix's offering in 2009 that offered $1 million for a better method for predicting which movies subscribers would like, Overstock is offering the same to any researcher, or team of researchers, who can develop an algorithm that can produce a 10% increase in sales.
Wow - that's no chump change! If that weren't enough, if the team works for a university, Overstock will donate an additional $25K to the university. Now that's tapping into the masses for a better solution.
Imagine if we could apply the same principle to solving some of the government's problems? Open up problem-solving and solicit solutions from the general population and we'd come up with some radical changes.
Please forward this to anyone you know that might have the knowledge to work on this project. Full details here.
Ciao for now, Paula
Text by Paula Bonelli based on an article in Internet Retailer Magazine, June issue.
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