IDG Contributor Network: Digital business lessons from the world of Formula One
In addition to the blistering excitement of race day, the world of Formula One is well known for its technology innovation and advancements that later find their way into the consumer auto industry. Examples include a multitude of innovations related to engines, transmission, braking and safety.
With all the interest in digital transformation in the business world, what can the world of Formula One, where results are measured in thousandths of a second, teach us about emerging technologies and how to manage, combine and optimize them to deliver competitive advantage?
According to Matt Harris, head of IT at the Mercedes AMG Petronas Formula One team, there are a number of business objectives his team has to address. Firstly, the goal of IT is to support and improve the business as a whole. The Formula One team doesn’t sell anything since the “product” in this case goes around the track. IT therefore focuses on providing and operating the core, car-enabling technologies for race performance as well as for the team’s website and worldwide fan base.
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