Using machine learning to predict retail business volume
US11068916B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 21, 2018 |
| Grant date | Jul 20, 2021 |
| Priority date | — |
| Expiry date | Aug 22, 2038 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06N5/02
- WIPO fieldComputer technology
- WIPO sectorElectrical engineering
Abstract
Methods for estimating multiple types of retail business volume based on multiple types of data are described. Historical volume data, prior recorded business volume, characteristics of the store including departments, and geographical location are used. Historical data is transformed into multiple features that capture seasonality, trends, the effects of special events and other business characteristics. This data can be pooled based on business characteristics, and then machine learning regression models, e.g., multiple regression trees, are fitted to each pool of data. To estimate future volume, the same features are computed, and the regression model is applied. The estimates are presented back to the user, or transmitted electronically to other systems, including systems for creating worker schedules based on predicted volumes. Systems, apparatus and computer readable media are also described.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.