System and method for predictive product pricing based on product description
US11847664B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Nov 15, 2021 |
| Grant date | Dec 19, 2023 |
| Priority date | — |
| Expiry date | Jan 7, 2042 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06F40/20
- WIPO fieldComputer technology
- WIPO sectorElectrical engineering
Abstract
A method for predicting, assessing, and auditing prices of products or services is provided. In some embodiments, the method includes receiving a product description with one or more terms and obtaining a product list with product descriptions having respective prices, where each product description in the product list includes the one or more terms or combinations thereof from the received product description. The method further includes, training a model to determine how the one or more terms or combinations thereof influence the prices in the product list, using the trained model to make a price prediction for the received product description, and enabling assessment of product prices based on the price prediction made by the trained model.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.