Optimized pricing solver with prioritized constraints
AssigneeOracle International Corporation
InventorsShivaram SUBRAMANIAN, Aihua XU, Joseph KREBS
Life of this patent
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Abstract
A pricing optimization system can solve a constrained optimization problem by generating one or more prices for one or more items that satisfy a maximum number of prioritized constraints. The one or more generated prices can be one or more prices that represent a minimal deviation between the generated one or more prices and one or more original prices for the one or more items. By satisfying a maximum number of prioritized constraints, and by minimizing a deviation from the one or more original prices for the one or more items, the generated one or more prices are one or more optimal prices.
Claims21
A computer-readable medium having instructions stored thereon that, when executed by a processor, cause the processor to solve a constrained pricing optimization problem, the instructions comprising:
- defining one or more constraints, wherein each constraint of the one or more constraints comprises a mathematical representation of one or more restrictions on a price;
- assigning a priority to each of the one or more constraints;
- generating one or more prices for one or more items that satisfy a maximum number of the prioritized constraints;
- computing a risk value for each price of the one or more prices, for each item, wherein the risk value represents a deviation of the price from an original price of the corresponding item;
- and
- selecting the price from the one or more prices, for each item, whose risk value represents a minimum deviation from the original price of the item.
A computer-implemented method for solving a constrained pricing optimization problem, the computer-implemented method comprising:
- defining one or more constraints, wherein each constraint of the one or more constraints comprises a mathematical representation of one or more restrictions on a price;
- assigning a priority to each of the one or more constraints;
- generating one or more prices for one or more items that satisfy a maximum number of the prioritized constraints;
- assigning a risk value to each price of the one or more prices, for each item, wherein the risk value represents a deviation of the price from an original price of the corresponding item;
- and
- selecting the price from the one or more prices, for each item, whose risk value represents a minimum deviation from the original price of the item.
A pricing optimization system, comprising:
- a memory configured to store a constrained optimization solver module;
- and
- a processor configured to execute the constrained optimization solver module stored on the memory;
- wherein the processor is further configured, when executing the constrained optimization solver module stored on the memory, to:
- define one or more constraints, wherein each constraint of the one or more constraints comprises a mathematical representation of one or more restrictions on a price;
- assign a priority to each of the one or more constraints;
- generate one or more prices for one or more items that satisfy a maximum number of the prioritized constraints;
- assign a risk value to each price of the one or more prices, for each item, wherein the risk value represents a deviation of the price from an original price of the corresponding item;
- and
- select the price from the one or more prices, for each item, whose risk value represents a minimum deviation from the original price of the item.
Dependencies are inferred from the claim text.