Mercedes-AMG Petronas F1 Team and TIBCO Race to the Finish for the Australian Business Award, Digital Transformation
Blog: The Tibco Blog
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TIBCO proudly announces that our partnership with the Mercedes-AMG Petronas F1 team has won the 2022 Australian Business Award for Digital Transformation. The innovative use of the TIBCO Spotfire platform for car and track analytics—and the creation of the TIBCO Cost Visualiser Tool (CVT) to track design, engineering, and manufacturing spending—has leveled up the Mercedes-AMG Petronas F1 Team’s analytical power.
With TIBCO powering its analytics, the Team has won eight FIA World Constructors championships and more than 79 race wins. TIBCO solutions help the Team quickly predict outcomes in multiple scenarios, understand costs, and maximize ROI.
The Australian Business Award for Digital Transformation
The 2022 Australian Business Award for Digital Transformation is awarded to organizations that build and deploy innovative digital initiatives that embody the most cutting-edge digital transformations. The award celebrates winners that go above and beyond in digital transformation—changing how businesses operate and building a more data-driven future.
Simulations That Drive Real Results
The TIBCO and Mercedes-AMG Petronas F1 Team partnership began in 2017. Since then, the Team has won over 79 races and eight FIA World Constructors championships, powered by TIBCO Spotfire analytics.
The Formula One season is relatively long, with few breaks to practice on the track. This makes analytics all the more valuable. With TIBCO Spotfire, the Team’s engineers can run various scenarios with different cars, configurations, and weather conditions to determine the best combination on the day of the race.
As TIBCO Spotfire runs these simulations, it also “learns” with built-in AI capabilities. This leads to even better predictions and analytics over time as actual results from weather conditions and sensor input are considered in new predictions. Analytics has made a huge impact on the F1 program, and the Mercedes-AMG Petronas F1 Team’s grid domination speaks for itself.
The Mercedes-AMG Petronas F1 team doesn’t just use analytics for racing. The Team built a Cost Visualiser Tool (CVT) on TIBCO Spotfire in response to changing F1 regulations that cap budgets on car spending. To optimize spending, the CVT uses performance data to calculate how to build the fastest car for the best price. With this tool, everyone across departments—engineering, planning, purchasing, finance, and development—can optimize spending without sacrificing performance.
An Award-winning Partnership
TIBCO technology has allowed the Mercedes-AMG Petronas F1 Team to create winning strategies, reliable and innovative vehicle components, and the most technologically advanced simulations on the F1 circuit.
Want to learn more about the TIBCO and Mercedes-AMG Petronas F1 team partnership? Watch this video to learn how TIBCO Spotfire analytics helps the Team expect the unexpected.
The post Mercedes-AMG Petronas F1 Team and TIBCO Race to the Finish for the Australian Business Award, Digital Transformation first appeared on The TIBCO Blog.
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