System, method and computer program for improved forecasting residual values of a durable good over time
US10726430B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Sep 6, 2019 |
| Grant date | Jul 28, 2020 |
| Priority date | — |
| Expiry date | Sep 6, 2039 |
Classification
- Technology area (CPC Y)Emerging Cross-Sectional Technologies
- CPC primaryY02W90/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A residual value forecasting system may utilize heterogeneous data, such as used market data, industry-specific data, and non-industry-specific data, from disparate data sources to produce residual value forecasts of an item based on a sophisticated residual value forecasting model particularly configured for agility. The system can dynamically and quickly adapt to change in data inputs and produce custom outputs. The system may determine a baseline value for an item using the used market data, a microeconomic factor using the industry-specific data, and a macroeconomic factor using the non-industry-specific data, as well as adjustments such as locality adjustments and modifications. Given the macroeconomic factor and the microeconomic factor relative to the locality-adjusted value of the item and in view of the competitive sets of similar and/or substitute items in the same industry, the system can generate an accurate forecast residual value of the item at a future time point.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.