Real-time alerts for abnormal item pricing

A system for raising an alert to a system for a specific item based on a price analysis and deviations in a given price for the specific item, comprising:

• at least one processing device having at least one processor configured to execute instructions from a non-transitory computer-readable storage medium;
• the instructions when executed by the at least one processor from the non-transitory computer-readable storage medium cause the at least processor to perform operations comprising:
• mapping item codes from a product catalogue to vectors plotted in multidimensional space by and for each item code, generating coordinates within the multidimensional space associated the corresponding item code and previous transaction item codes purchased with the corresponding item code in previous transactions associated with the corresponding item code to generate the corresponding vector for the corresponding item code and plotting each vector using the corresponding coordinates as an item context for the corresponding item code within the multidimensional space;
• determining similarities between a transaction item code associated with a transaction item of a transaction being processed and other item codes based on the corresponding vectors plotted in the multidimensional space by generating a current item vector based on the transaction item code and the other item codes present in the transaction, plotting the current item vector in the multidimensional space and identifying the similarities by evaluating the current item vector against the vectors plotted in the multidimensional space;
• obtaining a transaction item price being used from the transaction for the transaction item;
• obtaining a first item price for the transaction item code from a catalogue wherein the first item price is any adjusted price for the transaction item based on any discount applied to the transaction item during the transaction;
• obtaining second items' prices for the other item codes;
• calculating a median price from the first item price and the second items' prices;
• calculating a deviation between the transaction item price and the median price;
• and
• sending a real-time price alert to a resource associated with processing the transaction when the deviation falls above or below the median price by a threshold amount causing the resource to perform transaction processing for the transaction based on the real-time price alert received by the resource during the transaction;
• and
• obtaining a feedback from the resource when the real-time price alert was sent but the transaction item price was not changed for the transaction item of the transaction and training a machine-learning algorithm with transaction details for the transaction, the alert, and the feedback to predict future decisions, wherein the feedback is an indication as to an action taken based on the alert, wherein the action taken can include ignored with no price change to the transaction item price or a price change was made to the transaction item price based on the alert.