Systems and methods for algorithmic pricing
US11532000B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Oct 12, 2018 |
| Grant date | Dec 20, 2022 |
| Priority date | — |
| Expiry date | Apr 24, 2040 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0202
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Systems and methods including one or more processing modules and one or more non-transitory storage modules storing computing instructions configured to run on the one or more processing modules and perform acts of calculating a halo weight for at least one item of a set of items, where the halo weight can comprise an effect sales of the at least one item has on sales of the set of items; calculating an item-wise elasticity for the at least one item; calculating a line-wise elasticity for the at least one item of the set of items; calculating an aggregate elasticity for the at least one item using the item-wise elasticity and the line-wise elasticity; calculating a demand forecast for the at least one item of the set of items; optimizing an objective function comprising the halo weight, the aggregate elasticity, the demand forecast, and at least one external constraint; adjusting at least one price of the at least one item based on the objective function, as optimized; and displaying the at least one price, as adjusted, on a display device. Other embodiments are disclosed herein.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.