Industry

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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Innovation Insights WEF Latin America 2012

The seventh World Economic Forum on Latin America took place in Puerto Vallarta, Mexico, on 16-18 April 2012. The meeting, held under the theme “Regional Transformation in a New Global Context”, convened a record number of participants for this regional gathering, with close to 900 top regional and global leaders from 70 nations.

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It's Like Free Money

For businesses big and small, entrepreneurs and investors it amounts to the closest thing in innovation to free money. Billions of dollars have been spent by these Federal Laboratories creating technologies, and by law they have to commercialize them.

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How do Users Influence Innovation?

Innochat is a weekly Twitter chat involving a wide range of really interesting people from all over the world, linked by one thing – a deep interest and passion for innovation. One recent chat focused on the role of users and innovation. We tried to distinguish Lead Users (LUs), Early Adopters (EAs) and Brand Advocates (BA), and assess the impact each one has on innovation.

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Innovation and Simplicity

In today’s world of complex systems, Big Data, and massive analytical capabilities, sometimes we need to step back and remember that transformative innovation can, and often does, arise from simple human ingenuity. Two historical examples from the food industry...

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Crappy Innovation

Can you be crappy? Do you dare? When we think about innovation, we usually think about what impresses us. Like Steve Jobs standing on a podium showing off his latest triumph: Incredible! Revolutionary! Mind Blowing!

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