Generating a sales volume forecast
US8090614B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Oct 23, 2007 |
| Grant date | Jan 3, 2012 |
| Priority date | — |
| Expiry date | Nov 2, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0206
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method for generating a sales volume forecast includes receiving user input specifying a hypothetical asking price and a future date and accessing, for each of multiple past time periods, historical data reflecting a sales volume for an item over the past time period and a corresponding price difference between an asking price and a coinciding market price for the item, the price difference also being associated with the past time period. The method also includes determining a historical correlation for the item between sales volume and price difference between asking price and coinciding market price, accessing market data reflecting a future market price for the item associated with the specified future date, determining a price difference between the specified hypothetical asking price and the future market price for the item, applying the determined historical correlation to the determined price difference to generate a sales volume forecast, and providing the generated sales volume forecast for access by a user.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.