Method and means for ranking and pricing items
US5794220A · kind A · utility
Assignee
Inventor
Key dates
| Filing date | Aug 22, 1994 |
| Grant date | Aug 11, 1998 |
| Priority date | — |
| Expiry date | Aug 22, 2014 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/102
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The present invention provides a computerized method for ranking items based upon the interrelationship of the volumes and revenues and payment methodologies of items sold. First a base rank value is determined based upon the measured distribution of item volume, item revenue and the payor methodology mix. A weighted value is then determined by the computer system for each item by high and low assigned values which are then normalized and sorted to provide a normalized ranking. The pricing of each item is based upon the normalized ranking. The method of the present invention is used to determine what items should increase in price, what items should decrease in price, and what items should remain constant according to each item's relative value to net income.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.