Netflix . the online leader in movie rentals had a typical problem at its hand. It wanted a recommendation engine to recommend movies to its users. The problem statement was “To improve the accuracy of predictions about how much someone is going to enjoy a movie based on their movie preferences.”

They had tried to find a solution to this in house and had spend some time and resources but without much luck. So they they threw this challenge for people  to come together and solve this problem. The grand prize of US$1,000,000 was reserved for the entry which would best Netflix’s own algorithm for predicting ratings by 10% Read more…