Betfair: A European IQPC Process Excellence Award Finalist for Best Project Contributing to Innovation

Genna Weiss

Hear how Betfair, a global person-to-person online betting exchange, rose to the challenge of better protecting its soccer betting customers against attempted market manipulation. For the efforts of this particular project, "Reduce Soccer Market Feed Delays," Betfair has now been formally recognized as a finalist in the Best Project Contributing to Innovation category at the 2010 IQPC European Process Excellence Awards. In this Profit through Process podcast, Genna Weiss of Six Sigma IQ speaks with members of the nominated Betfair team: William Maloney, Six Sigma Black Belt and Process Improvement Specialist; Alec Percival, Market Operations Assistant Team Manager; and Alex Kozlenkov, Senior Research Engineer.

From listening to this podcast, you will hear about how Betfair:

• Used root cause analysis to determine the reasons behind the inaccurate market data feed delays
• Employed statistical studies, fishbone diagrams, FMEA analysis, and other process improvement tools and methodologies to fix the problem
• Developed an innovative monitoring system that allows the company to respond in real-time to attempted market manipulation
• Achieved the end results of the project, which included a 90 percent reduction in customer credits and a significant decrease in the number of customer complaints
• Employs management and technical systems to sustain the gains of the project