Real-time and computationally efficient prediction of values for a quote variable in a pricing application
US10521491B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 6, 2017 |
| Grant date | Dec 31, 2019 |
| Priority date | — |
| Expiry date | Mar 31, 2038 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0283
- WIPO fieldComputer technology
- WIPO sectorElectrical engineering
Abstract
The present disclosure describes a system, method, and computer program for real-time and computationally efficient calculation of a recommended value range for a quote variable, such as price, discount, volume, or closing time. The system uses the highest-density interval (HDI) of probability density function (PDF) as a recommended or suggested value range for a quote variable. PDFs for the quote variable are precomputed for groups of related inputs, and each PDF is summarized as an array of discrete points. A dimension reduction technique is applied to the PDF inputs in both the training and real-time (non-training) phases to reduce the number of possible combinations of PDFs. During a quote-creation process, a PDF look-up table enables the system to efficiently identify an applicable PDF from the group of precomputed PDFs based on reduced input values.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.