Method and apparatus for estimating the spend capacity of consumers
OwnerMyles G. Megdal, Adam T. Kornegay +1inventors
InventorsMyles G. Megdal, Adam T. Kornegay, Angela Granger
Life of this patent
Estimating the term…
Abstract
Time series consumer spending data, point-in-time balance information, internal customer financial data and consumer panel information provides input to a model for consumer spend behavior on plastic instruments or other financial accounts, from which approximations of spending ability may be reliably identified and utilized to promote additional consumer spending.
Claims20
A method for modeling consumer behavior for estimating consumer spending comprising:
- validating, by a computer-based system for modeling consumer behavior for estimating consumer spending, a model of consumer spending patterns using consumer panel data, wherein the computer-based system comprises a processor and non-transitory memory;
- estimating, by the computer-based system, a purchasing ability of the consumer based on tradeline data, discounting and the model, wherein the tradeline data is received for a plurality of accounts of a consumer over a previous period of time, and wherein the discounting includes discounting any spending identified for any of the plurality of accounts for any portion of the previous period of time in which a balance transfer to such account is identified;
- and
- outputting, by the computer-based system, the purchasing ability.
An article of manufacture including a computer readable medium having instructions stored thereon that, in response to execution by a computer-based system for modeling consumer behavior for estimating consumer spending, cause the computer-based system to perform operations comprising:
- validating, by the computer-based system, a model of consumer spending patterns using consumer panel data, wherein the computer-based system comprises a processor and non-transitory memory;
- estimating, by the computer-based system, a purchasing ability of the consumer based on tradeline data, discounting and the model, wherein the tradeline data is received for a plurality of accounts of a consumer over a previous period of time, and wherein the discounting includes discounting any spending identified for any of the plurality of accounts for any portion of the previous period of time in which a balance transfer to such account is identified;
- and
- outputting, by the computer-based system, the purchasing ability.
A system for estimating consumer spending, the system comprising:
- a non-transitory memory communicating with a processor for modeling consumer behavior for estimating the consumer spending,
- the non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising:
- validating, by the processor, a model of consumer spending patterns using consumer panel data, wherein the computer-based system comprises a processor and non-transitory memory;
- estimating, by the processor, a purchasing ability of the consumer based on tradeline data, discounting and the model, wherein the tradeline data is received for a plurality of accounts of a consumer over a previous period of time, and wherein the discounting includes discounting any spending identified for any of the plurality of accounts for any portion of the previous period of time in which a balance transfer to such account is identified;
- and
- outputting, by the processor, the purchasing ability.
Dependencies are inferred from the claim text.