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Is Your Recommendation Algorithm Worth $1m? Overstock Wants To Know

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It is simple: Is your recommendation algorithm worth $1m? If it is, then, Overstock could be paying you.  Or if your own is not good enough, you can still nominate someone for RecLab Prize. Nominations will be accepted until June 15, 2011. Read more about this opportunity for the tech wants.

 

Online product recommendations are among the shopping tools most widely used by consumers who need to easily find relevant and enticing products from the millions available online. Overstock.com has worked with RichRelevance since 2009 to present shoppers with dynamic recommendations that grow smarter over time and accurately reflect more than 60 different ways that people shop on the site (by price, by brand, by category). Now Overstock.com is partnering with RichRelevance to open up this real-world business challenge to the academic community, challenging academic researchers to advance the state of the art in personalized product recommendations by crafting an algorithm that delivers a 10% or greater lift over existing product recommendations on Overstock.com. If no team achieves a 10% lift, then smaller prizes will be awarded. A brief overview of the contest follows.

Contest Prizes:
  • Maximum Prize: $1,000,000
    The winning team will receive a cash prize of $100,000 USD multiplied by the percentage that the entrant’s algorithm performed over RichRelevance’s algorithm—up to a maximum amount of $1,000,000. For example, if the winner produced 3.34% more revenue per session than RichRelevance’s algorithm, the winner will receive $330,000.
  • Institution Prize: up to $250,000
    Should the winning team be affiliated with an educational institution, up to 25% of the prize amount (funded separately from the Team Winner’s Prize) can be allocated to the educational institution(s).
Registration
  • To register, visit http://overstockreclabprize.com/teams/register and complete the registration form

 

Winning
  • To compete in the competition, your submission must be one of ten top Semi-Finalists chosen by a peer review committee appointed by Overstock.com and RichRelevance.
  • If any of the Semi-Finalists produce 1% more revenue per session than existing algorithms, then the top three submissions (as measured by revenue per session) will be run on 10% of sessions each for an additional three weeks. The best performing of these algorithms, as judged by increase in revenue per session over the existing algorithms, will be eligible for a prize of up to $1,000,000.
  • Competition Submission Deadline:
    Dec. 1, 2011
  • Ovim Bloggers Day – Ovim Tablet Is Possibly Nigeria’s Fastest Selling Local Brand

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    Fasmicro and Microscale will host Nigerian bloggers in Lagos in  August to officially launch Ovim Tablet with them. This will give them the opportunity to ask questions as we build a brand in the nation. The new Ovim Plus arrives next week. Ovim is out of stock in Lagos, but you can still buy Ovim classic in  Owerri. Ovim Plus is available NOW in Lagos and Owerri offices of Fasmicro.

    We will communicate  more information on time and date in coming days. If you want to attend this program, please email us or just confirm via twitter @fasmicro. We truly want to have an opportunity to  celebrate this product while seeking an opportunity to promote it.

    Ovim is used by many Co-op members of the NNPC. Though statistics is scarce, we think we are the fastest selling local tablet in Nigeria with excess of 800 units. Ovim is also used in the Government House of Abia State. Even in NASENI lab. We have arrangement now to sell to some universities in the Mobility Virtual Classroom project.

    New markets are evolving and we are more than confident that we will do well – we do not sell just the hardware, we provide services. The MVC is to enable classrooms to be wired and transformed into a mobile classroom so that any student with the right tool and access can attend lectures right from Ovim tablet. Our first university client is worked out and we see this as a huge opportunity. All the software and connectivity tools are developed in-house by our engineers – the creators of Africa’s 1st Android apps store.

    Ovim is a product of Famsicro and Microscale

    Watch Out – @BarackObama Auto Follow To Return in 4 Months in Twitter

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    The President of the United States has a twitter account with 8,135,221 followers. That is not the news. The news is that Obama is following  697,287. How? Unbelievable that he can have that time to follow simple people like you.

    Do not be deceived, Obama has  auto-follow when he was running for election few years ago. It was just plain politics that if you follow him, he returns the love. And when he won, he stopped that. Sounds like politicians? Yes, their phones work 24/7 to the election, and after the D-day they will need time to rest and sleep.

     

    The truth is that if you follow Mr. President now, he will not return the follow.

     

    However, Tekedia thinks within four months, that auto-follow will come, because we will all matter by then. Another election is on the horizon and the President needs one thing that he cares about us – VOTES.

     

    Tekedia does not want to follow Mr. President now because he will not follow us. We will engage him in six months, then he will open up that return the favor love. That is the game and never think that he has time to compete to know what the thrash you are writing. He got important things to do!

     

    The day we decide to follow him, we are sure, he will return that love. And we will celebrate that the US President follows us. What not to like about that? You can even use that for a job interview to demonstrate your popularity.

     

    But if we are lucky through this post  and he follows us, we will dedicate a full day of post Thanking Mr. President. Yes, we will not post anything, but just Thanks Mr. President for following us on Twitter. We are @tekedia and we write about technology and entrepreneurship. We cannot even spell pol t cs very well, but we vote.

    CloudCamp Accra Annoucned – Aug 27, 2011

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    CloudCamp Accra has been announced for August 27, 2011.

     

    CloudCamp is an unconference where early adopters of Cloud Computing technologies exchange ideas. With the rapid change occurring in the industry, we need a place where we can meet to share our experiences, challenges and solutions. At CloudCamp, you are encouraged to share your thoughts in several open discussions, as we strive for the advancement of Cloud Computing. End users, IT professionals and vendors are all encouraged to participate.

    Why Cloud Computing ?

    • The ability to scale your business and infrastructure — on demand with out capital outlay.
    • The ability to flow over (even if it’s just the coffee ordering system) — on demand without commitment.

    Who should attend:

    • Anyone wishing to further Cloud Computing or just learn what all the fuss is about!
    • Developers, Architects, Analysts, IT Management and Executives, from App Dev through to Production.
    • Entrepreneurs, founders and leaders of start-up/early-stage companies, venture capitalists and industry analysts.

    Reasons to attend:

    • Understand how to integrate Cloud Computing Services into your business
    • Find ways to cut fixed infrastructure costs while increasing reliability and scalability
    • Learn from others about their use of Cloud Computing Services

    More details coming soon

    Organizers:
    Abayomi Ayoola
    Olawale Bakare
    Udoh Ubong

    Neuromorphic Engineering Methods – Morphing Biology on Silicon

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    Neuromorphic systems design method involves the mapping of models of perfection and sensory processing in biological systems onto analog VLSI systems which emulate the biological functions at the same time resembling their structural architecture.

     

    These systems are mainly designed with CMOS transistors that enable low power consumption, higher chip density and integration, lower cost. These transistors are biased to operate mainly in the sub-threshold region to enable the realizations of high dynamic range of currents which are very important for neural systems design.

     

    Elements of adaptation and learning (a sort of higher level of adaptation in which past experience is used to effectively readjust the response of a system to previously unseen input stimuli) are incorporated into neuromorphic systems since they are expected to emulate the behavior of the biological systems and compensate for imperfections in the physical implementation and changes in the environment where they operate. Imperfections in physical imperfections could come via circuit elements mismatches while noise and random error could result from environment.

     

    These adaptation and learning implementations are done with analog systems that drive the realization of efficient neural systems based on parallel distributed architectures for low-power, real-time and robust operation.

     

    The process of developing a Chip

    The neuromorphic engineering could be divided into neuromorphic modeling, reproducing neuro-physiological phenomena to increase the understanding of the nervous systems and neuromorphic computation which uses the neuronal properties to build neuron like computing hardware. Basically, the former provides the knowledge of the biological algorithm while the latter translates the algorithm into electrical circuits. this is an iterative process since the understanding of the biological algorithm is a very complex process. As more knowledge evolves yielding improved algorithm, the electrical circuits are revised and improved.

     

    These circuits then pass through all the stages of developing integrated circuit (or chip), which involves the circuit layout, verification, fabrication in foundry and testing and subsequent deployment. A brief explanation of each of these steps while examining within the domain of general chip design is provided below:

     

    Layout Design: This stage involves the translation of the circuit realized in the previous stage into silicon description through geometrical patterns aided by CAD tools. This translation process follows a process rule that specifies the spacing between transistors, wire, wire contacts and so on. The layout is designed to represent the electrical circuit schematics obtained from the algorithm.

     

    Fabrication: Upon satisfactory verification of the design, the layout is sent to the foundry where it is fabricated. The process of chip fabrication is very complex. It involves many stages of oxidation, etching, photolithography, etc. Typically, the fabrication process translates the layout into silicon or any other semiconductor material that is used.

     

    Testing: The final stage of the chip development is called testing. Electronic equipment like oscilloscopes, probes, and electrical meters are used to measure some parameters of the chip to verify its functionalities based on the chip specifications.

     

    Due to the complex nature of biological algorithms and translations into electrical circuitries, neuromorphic team comprises of diverse group of experts. Typical areas are biology, electronics, physiology, computer science and engineering. These experts work together to understand the biological systems and consequently develop hardware systems that mimic their behaviors and forms. The complementary metal oxide semiconductor (CMOS), the most common technology in integrated circuit, is the most widely used to develop and fabricate the chips. The CMOS technology has the advantages of low power consumption and capability to pack many circuits elements efficiently together.

     

    Conclusions

    Modern advancement in biology is enabling better understanding of forms, structure, and behavior of biological systems to develop algorithms implemented in analog integrated circuits. These circuits are developed in parallel-distributed architectures with elements of adaptation and learning using low power and high integration density technologies. As the algorithms mature, these chips, neuromorphs, are expected to become more efficient for critical industrial application like animal parts replacements. Effective interdependence collaborations among the key areas of biology, electrical engineering, physiology and computer science are very fundamental to develop and engineer this emerging area of computational biology.