F1 success depends on risk, data utilisation

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F1 success depends on risk, data utilisation
Former Formula One driver Mika Hakkinen

Abu Dhabi - He noted how a pit stop was made in 1.8 sec during a Grand Prix

By Ashwani Kumar

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Published: Wed 16 Nov 2016, 9:42 PM

Last updated: Wed 16 Nov 2016, 11:45 PM

Mika Hakkinen on Wednesday said the success for Formula One teams lie in how aptly they can manage risks and utilise data.
"In this technology driven era, data is everything," the two-time Formula One World Champion said during the session 'Risk Management in F1 - Team Work and Technology at 350kph' at the RSA security conference held at the Emirates Palace in Abu Dhabi.
Highlighting the role played by data, he noted how a pit stop was made in 1.8 sec during a Grand Prix. "That happened following data collected over the course of the year or so."
Hakkinen said the secret to survive and thrive in the Formula One scene is by managing the high risks twined in the high-speed, high-technology driven environment.
"Formula One is well-known for being a high technology sport, but few people watching a Grand Prix on television will realise that we use this to manage risk as much as to optimise performance." Recollecting the number of crashes he had over the course of his career, he said: "The risks associated with racing wheel-to-wheel at speed of up to 350kph are very clear, and I have experienced first-hand what can happen when things go wrong." Technology has help cut the number of fatalities in the sport, he added.
Hakkinen noted how data can be used as a tool to counter risk factors. "To better manage risk, teams and drivers have turned to data acquisition, analysis and predictive analytics to help guarantee positive outcomes. Over the last 20 years we have developed a fully connected digital communications environment, which means that for a driver we can make better real-decisions to protect ourselves and score a win."
On a closing note, he said Abu Dhabi is growing as a global destination for Formula 1.
"I am excited to be coming to the Capital to close this year's RSA Conference and speak on relevant regional topics."

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