Formula 1 is one of the most viewed spectacle of the world. The races are super exciting. The shows on TV are very engaging. Drivers, teams, boxes, pit stops, crashes, overtaking, driver errors, radio talks, and many more build-up a unique experience. Thou TV viewer numbers were declining, due to the wide selection of alternatives and also younger generations do not connect as much as the older connections with this sort of sport.
What to do about this trend?
McLaren, one of the oldest F1 racing teams, created a vision for 2050. F1 racing still is relevant, it is up to date, and digitally enriched, both for racers and viewers. Watch this short explanatory video to understand the thoughts of the creators.
Now, let’s examine the vision from our digital transformation points of view.
First Customer Excellence:
Who is the customer? Obviously the visitor of the race track buying the ticket, the viewer on TV sparing the time, the fan. He or she needs to be engaged. He or she needs to be able to experience something special. More statistics for the geeks, more celebrity gossip for the curious, more technical background for the mechanics, and so forth.
In 2050 AR and VR will be common place, applications will be beyond our fiercest dreams of what’s possible today. Experiencing the race from various view points, inside and outside the car, racer view, comparing various views and various drivers, down to the heart beat, sensations, maybe even their thoughts.
How much would you pay for such an experience? Would you pay an uplift for more options, deeper data, more intimate experiences? Who knows? But for sure these options will be offered, based on the perception of the viewer and the market, competition and creativity will win over inertia and commodity.
Now consider your own business model, the experience you provide customers (either B2B or B2C) and the impact of digital on these. For sure most of the dynamics will change, sooner or later.
Curious? To understand the impact, the possibilities and how to achieve the required new digital capabilities, please review our digital transformation services, ranging from one day workshop to full-fledged business and cultural transformation programs.
Second view point Operational Excellence:
Formula 1 was and is always at leading edge when it comes to use technology to boost performance. Telemeter data collected from the cars over radio online and real-time help the technical team to take decisions, actions, prepare for pitstops, give advice to the driver, even adjust the car remotely (if regulation allows).
The famous and breath-taking pitstops are legendary metaphors for many other industries in terms of teamwork, passion, expertise, precision and of course extraordinary performance, as every millisecond counts in this sport. It’s not just outstanding men and women working their, it’s also a lot of practice, optimization and special design of parts, processes and mindset.
Of course formula 1 is not serial mass manufacturing. But from a material science perspective, from a logistics perspective, from a data-driven optimization perspective, formula 1 works very closely with the automotive industry and complimentary other industries.
Want to know who we helped until today? Please have a look at our references.
Last but not least, third point of view is innovative capabilities enabled by digital technologies.
Imagine what you will be able to do with AR, VR and MR (mixed reality). Augmenting the experience with data, gamifying the whole experience, keeping the fans entertained between the races, and many more ideas and business models can now be easily realized.
Imagine you can compete against real race drivers, on the real (but of course) virtual race track. How much premium would you pay? E-sports is growing rapidly. LOL, WOW, PUBG, or football are already widespread as of today. Now add racing in a complete augmented fashion to this list, it will be highly popular.
Open data of the races and the cars can be leveraged for hackathon and datathon kind of events to crowdsource open innovation. Fuel, in this future scenario battery saving, race strategy, optimization of the car’s configuration or any other area new to be discovered.
Digital augmentation, digital transformation, digital enablement brings a whole new variety of possibilities and opportunities. Therefore any industry, any object, any process, any business model, will become digital more or less, sooner or later.
Every company needs a strategy how to benefit from these digital possibilities. Please check out our offering. We’d love to work with you.
To read more about the details of McLaren’s 2050 vision, please visit McLaren’s page.