Retail sales forecast system with promotional cross-item effects prediction

US10430812B2 · kind B2 · utility

Assignee

• Oracle International Corporation · US

Inventors

• Z. Maria WANG · Needham, US
• Peter Gaidarev · Malden, US

Key dates

• Filing date: May 23, 2013
• Grant date: Oct 1, 2019
• Expiry date: Nov 16, 2035

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/0202
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A system that predicts promotional cross item (“PCI”) effects for retail items for a store receives historical sales data for the store and stores the historical sales data in a panel data format. The system then aggregates the stored sales data as a first level of aggregation that is aggregated to the store, a product and a time period. The system further aggregates the first level of aggregation aggregated data as a second level of aggregation that is based on a promotional cross effect attribute (“PCEA”) and is aggregated to the store, the time period and a PCEA level. The system derives PCI effect predictor variables from the second level of aggregation and, for each PCEA within a retail item family, forms a regression model. The system then generates estimated model parameters for one or more PCI effects for each PCEA from the regression models.