On Friday, the 14th of May, we hosted an engaging virtual event at Metyis that examined how Formula One (F1™) has embraced data-driven strategies to optimise processes and drive performance, both during fast-paced competitions and behind the scenes. 

The event’s featured speaker, Mr Vicenç Aguilera, is revered for his roles as Former Chairman of Circuit de Barcelona and F1™ Grand Prix Host, and F1™ Technical Analyst for TV programmes. Alongside him were Michael Rendell and Joan Daura, Metyis Partners and leaders of the Powering People unit, who deliver cutting-edge HR solutions that enable companies to attract, retain, and scale high-performing teams. 

Mr Aguilera’s lecture shone a light on the intersection between HR team building practices and data-driven strategies that occur in the preparation for and execution of high-stakes races. The brand values speed across its areas dedicated to innovation, engineering, manufacturing, logistics, and decision-making. Mr Aguilera pointed out that in both racing and business one “should not confuse being the first with being fast. The most innovative teams, who often are the first to use innovative tools, are not fast.” 

F1™ vehicles are designed, manufactured, and simulated digitally with the objective of pushing physics to its limits while still complying with regulations mandated by the Fédération Internationale de l'Automobile (FIA). Mr Aguilera addressed how data enables the organisation to overcome challenges posed by toeing the line between these two conflicting frameworks. He compared the constant data flow produced by the vehicles to a P&L control in a daily race. Mechanic and racing team members must be meticulously prepared for each the 23 races that occur during the competition. Data insights and analyses contribute greatly to the team logistics, enabling race teams to operate in harmonised unison. Mr Aguilera proudly described how a team of mechanics were able to swiftly lift a car and change its tire in precisely 1.9 seconds amidst a race, as data enabled them to refine the process to a science. 

With time management at the forefront of all operations each team member is alert and laser focused. In preparation for the competition, analysts have 23 weekends and two pre-season testing windows dedicated to analysing data derived from the cars and their various mechanical components. There is no room for error across the complete simulations produced, incorporating an assortment of variables such as wind speed. Strategies are redefined in real-time as races are occurring. 

Our Partners Michael Rendell and Joan Daura converted insights from Mr Aguilera’s presentation about F1™ into HR terms, as there are strong parallels between how data is used in HR operations and in competitive races. HR departments benefit strongly from how data can be used to optimise performance, render predictive simulations, facilitate the retention of high-performers, and streamline communications between multidisciplinary stakeholders in demanding situations.

A Q&A session at the end of the presentation revealed the great lengths that F1™ has evolved in the past two decades as digital has been integrated across all facets of the work. “Figures flow into the system live, in real-time. One can take a fast look and understand what is working well and what is not, immediately.”

F1™ is a model for an enterprise embracing data, operating with agility and adapting swiftly to changing circumstances. Knowledge-sharing events allow subject matter experts to unearth unexpected parallels between their professions.