Method of making changes to product mixes placed on boundary constrained shelves by determining the cost of implementing a pricing strategy formed by changeable business rules

US11068919B2 · kind B2 · utility

Assignee

• Red Analytics Pty Ltd. · AU

Inventors

• Daniel Palmer · Muscat, OM
• Menkes Hector Louis van den Briel · Canteen Creek, AU
• Mark Ross Lawrenson · Sydney, AU

Key dates

• Filing date: Dec 26, 2018
• Grant date: Jul 20, 2021
• Expiry date: Aug 19, 2039

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q10/0637
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

The present invention relates to a computer implemented method of determining the cost of implementing a pricing strategy, the pricing strategy formed by changeable business rules which engender algorithmic constraints, impacting optimized business metrics. The computer implemented method comprising the steps of defining a cohort of at least one of a boundary constrained shelf space and associating with each of the boundary constrained shelf space, in the cohort, a product mix, and a product mix ranking. The computer implemented method continues by using a data processing device to develop, through algorithmic autonomous learning, achievable MEMBER OPTIMAL SALES REVENUE AMOUNT performance absent pricing strategy business rules and MEMBER OPPORTUNITY PRICING STRATEGY SALES REVENUE AMOUNT inclusive of pricing strategy business rules. The OPPORTUNITY PRICING STRATEGY COST is then determined as the difference between the TOTAL MEMBER OPTIMAL SALES REVENUE AMOUNT and the TOTAL MEMBER OPPORTUNITY PRICING STRATEGY SALES REVENUE AMOUNT.