Modeling customer demand and updating pricing using customer behavior data

US10832268B2 · kind B2 · utility

Assignee

• International Business Machines Corporation · US

Inventors

• Norbert M. Binkiewicz · San Mateo, US
• Junlei Chen · Shanghai, CN
• Elizabeth J. Chester · San Francisco, US
• Prafulla N. Dawadi · Foster City, US
• Robert K. Parkin · San Francisco, US
• Emrah Zarifoglu · Foster City, US

Key dates

• Filing date: Jan 19, 2017
• Grant date: Nov 10, 2020
• Expiry date: Oct 29, 2037

Classification

• Technology area (CPC H): Electricity
• CPC primary: H04L67/566
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

In an aspect of the invention, a computer-implemented method includes: receiving, by a computing device via computer network, a plurality of session data records indicating computer network browsing activity between a plurality of client devices and a merchant server hosting an online store; aggregating, by the computing device, a subset of the plurality of session data records for a single product, of a plurality of products, identified in the session data records and offered for purchase by the online store; extracting, by the computing device, features from the aggregated subset of session data records relating to customer demand for a the single product; modeling, by the computing device, customer demand for the single product based on the extracted features; optimizing, by the computing device, a price for the single product based on results of the modeling; and publishing, by the computing device, the optimized price.