Internet movie rental service Netflix has helped make the idea of delivery physical goods back and forth between consumer and business without a physical outlet a reality. Unfortunately, it seems that the service’s ability to predict the taste of its clients just isn’t what it could be.

While Netflix has worked steadily to refine the code that it uses to sort films by recommendation for users, Cnet is reporting that the company has now decided that it would be better policy to simply open up and accept suggestions. The winner stands to make a profit to the tune of $1 million.

Netflix chief executive, Reed Hastings, said of the competition, “If we knew how to do it, we’d already have done it. And we’re pretty darn good at this now. We’ve been doing it a long time.”

Of course, there are stipulations; tiny increases won’t make a world of difference. With that in mind, Netflix has opened its database of over 100 million anonymous movie ratings to the public. What’s interesting now is that the competition has gone from presentation of a theoretical solution to Netflix problems directly into the realm of practicality. Netflix is offering its million dollar prize to entrants that prove more than 10% more accurate than the current system.

If no solution more than 10% more accurate than the current system is found, then Netflix will give a $50,000 dollar prize to most successful entrant (over 1% more accurate) each year until it gets to award its million dollar prize.

You can read more about the compeitition,
here.