Subset optimization system

US7877286B1 · kind B1 · utility

Assignee

• DemandTec, Inc. · US

Inventors

• Michael Neal · San Francisco, US
• Krishna Venkatraman · Menlo Park, US
• Rob Parkin · San Francisco, US
• Suzanne Valentine · Atlanta, US
• Phil Delurgio · Dana Point, US
• Hau Lee · Los Altos, US

Key dates

• Filing date: Nov 30, 2001
• Grant date: Jan 25, 2011
• Expiry date: Oct 24, 2024

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/0202
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method for computing a preferred set of prices for products in a subset of a plurality of products is provided. Generally, initial prices for a plurality of products are stored. A subset of products of the plurality of products is designated, where the number of products in the subset of products is less than the number of products in the plurality of products. A demand model is created based on Bayesian modeling. Prices for the products in the subset of products are optimized, while maintaining the initial prices of products of the plurality of products that are not in the subset of products, wherein the optimization uses a grid method to determine the optimized prices.