Method and system for predicting the financial impact of forecasted weather conditions
US10520645B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | May 31, 2017 |
| Grant date | Dec 31, 2019 |
| Priority date | — |
| Expiry date | Oct 5, 2037 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q10/04
- WIPO fieldMeasurement
- WIPO sectorInstruments
Abstract
A system and method of predicting the impact of forecasted weather, environmental, and geologic events (that include one or more weather/environmental/geologic conditions) by determining a recurrence interval of each past condition in each location, determining the correlation between the past condition and the observable impact of the past event, calculating a predicted observable impact of each past event, calculating a predicted impact of each past event recurring by multiplying the predicted observable impact of the past event by the recurrence interval of the past condition, grouping the past events into a plurality of groups based on the predicted impact of the past condition recurring, determining a threshold for each group, receiving forecasted conditions, and determining the predicted impact of the forecasted conditions by comparing the forecasted conditions with the thresholds.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.