Incremental value assessment tool and user interface

A method for assessing incremental value comprising:

• receiving, at a value assessment Application Programming Interface (API) from a user computing device:
• an item category selection at an item category selection field, the item category being associated with an item category assortment;
• and
• input to execute a scenario simulation at a scenario input field, the input indicating one or more items to protect or one or more priority removal items designated for removal from the item category assortment;
• receiving, from an external database storing historical purchasing data for a plurality of item categories, historical purchasing data for a plurality of customers, wherein each customer of the plurality of customers purchases one or more items of a plurality of items within the item category assortment;
• for each item within the plurality of items within the item category assortment, using the historical purchasing data for the plurality of customers, simulating execution of removal of each of the plurality of items within the item category assortment, wherein removal of each item from the item category assortment causes an incremental loss associated with each item, and wherein each subsequent simulation executes removal of an additional item and simulations are performed until only one item remains in the item category assortment;
• ordering the plurality of items within the item category, based on an ascending incremental loss associated with each item, into an optimal order;
• using the historical purchasing data for the plurality of customers, execute the scenario simulation, wherein executing the scenario simulation includes generating simulation data comprising predicted purchasing data for the plurality of customers based on the one or more items to protect or the one or more priority removal items designated for removal from the item category assortment;
• displaying, via a user interface:
• a graphical view of assessment data, wherein the graphical view of assessment data includes concurrently displaying on a single graph a loss curve associated with the optimal order data and a loss curve associated with the scenario simulation data;
• and
• a listing of the one or more items included within the item category assortment, ordered based on incremental loss of each item in the listing, wherein the one or more items in the listing can be selected via the user interface to view additional item data in a drop down window;
• in response to displaying the assessment data, generating, on the user interface, a selectable navigational element configured to export the assessment data into a downstream application and automatically launch the downstream application;
• receiving, via the user interface, at least one update to the one or more items to protect or to the one or more priority removal items designated for removal;
• receiving, via a selectable option configured to execute a scenario simulation, a selection to execute an updated scenario simulation to generate updated scenario simulation data based on the at least one update to the one or more items to protect or to the one or more priority removal items designated for removal;
• automatically updating the graphical view of assessment data to include a loss curve associated with the updated scenario simulation data and to reorder the listing of the one or more items ordered based on incremental loss according to the updated scenario simulation data;
• and
• in response to receiving a selection via the selectable navigational element configured to export the assessment data, providing the assessment data to an item gateway service with instructions to route the assessment data to a downstream application.

A system for assessing incremental value for a plurality of items within an item category assortment, the system comprising:

• a user interface;
• a value assessment Application Programming Interface (API);
• and
• a computing system including a database, a processor, and a memory communicatively coupled to the processor, the memory storing instructions executable by the processor to:
• receive from a user computing device at the value assessment API:
• an item category selection at an item category selection field, the item category being associated with an item category assortment;
• and
• input to execute a scenario simulation at a scenario input field, the input indicating one or more items to protect or one or more priority removal items designated for removal from the item category assortment;
• receive, from an external database storing historical purchasing data for a plurality of item categories, historical purchasing data for a plurality of customers, wherein each customer of the plurality of customers purchases one or more items of a plurality of items within the item category assortment, the plurality of customers comprising exchanging customers and item-loyal customers, the historical purchasing data for exchanging customers indicating that more than one item of the plurality of items has been purchased, and the historical purchasing data for item-loyal customers indicating that only one of the plurality of items has been purchased;
• using the historical purchasing data for the plurality of customers, simulate execution of removal of the item from the item category assortment, wherein removal of the item from the item category assortment causes an incremental loss associated with the item, and wherein simulating execution of removal of the item from the item category assortment comprises:
• excluding customers from the historical purchasing data that have only made a single purchase of one item of the plurality of items;
• for each of the plurality of items, analyzing the incremental loss of removing the item from the item category assortment by, for exchanging customers, transferring a value associated with purchase of the item to the one or more other items, and excluding historical purchase data for item-loyal customers who have only bought the item;
• based on the incremental loss associated with each of the plurality of items, determining an order of removal of the plurality of items within the item category assortment, the order of removal being an ordered list based on an ascending incremental loss associated with removal of each of the plurality of items, wherein the ordered list represents an optimal order;
• for each item within the plurality of items within the item category assortment, using the historical purchasing data for the plurality of customers, execute the scenario simulation, wherein executing the scenario simulation includes generating simulation data comprising predicted purchasing data for the plurality of customers based on the one or more items to protect or the one or more priority removal items designated for removal from the item category assortment;
• and
• display, via the user interface:
• a graphical view of assessment data, wherein the graphical view of assessment data includes concurrently displaying on a single graph a loss curve associated with the optimal order data and a loss curve associated with the scenario simulation data;
• and
• a listing of the one or more items included within the item category assortment, ordered based on incremental loss of each item in the listing, wherein the one or more items in the listing can be selected via the user interface to view additional item data in a drop down window;
• in response to displaying the assessment data, generate, on the user interface, a selectable navigational element configured to export the assessment data into a downstream application and automatically launch the downstream application;
• receive, via the user interface, at least one update to the one or more items to protect or to the one or more priority removal items designated for removal;
• receive, via a selectable option configured to execute a scenario simulation, a selection to execute an updated scenario simulation to generate updated scenario simulation data based on the at least one update to the one or more items to protect or to the one or more priority removal items designated for removal;
• automatically update the graphical view of assessment data to include a loss curve associated with the updated scenario simulation data and to reorder the listing of the one or more items ordered based on incremental loss according to the updated scenario simulation data;
• and
• in response to receiving a selection via the selectable navigational element configured to export the assessment data, provide the assessment data to an item gateway service with instructions to route the assessment data to a downstream application.