RecLab Prize On Overstock.com

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The RecLab Prize on Overstock.com provides a cash award totaling up to $1 million to the researcher or research team who can achieve a measurable lift over existing product recommendations in a wide variety of shopping contexts on Overstock.com.

Who it’s For: The RecLab Prize is open globally to all non-commercial teams. If the winning team is affiliated with an educational institution, Overstock.com and RichRelevance will provide a separate Institution Prize to the educational institution that sponsors the wining team.

How it Works: RecLab Prize contestants gain immediate access to a high-quality and comprehensive synthetic dataset via RichRelevance’s open source RecLab project. Top performing algorithms will be exposed to real data and run in real time within the RichRelevance cloud environment (as real product recommendations to Overstock.com’s customers).

Judging: Entries will be judged by a Peer Review Committee. 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. Should the winning team be affiliated with an educational institution, 25% of the winning prize (funded separately from the Team Winner’s Prize) can be allocated to the educational institution(s) of the winners.

When: The competition is currently open through March 1, 2012. Finalists are announced on May 16, 2012 and the winning team will be unveiled on June 18, 2012.

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