Entity-specific value optimization tool
AssigneeWal-Mart Stores, Inc.
InventorMadhur Sarin
Life of this patent
Estimating the term…
Abstract
Examples of the disclosure provide a system and method for entity-specific value optimization. An elasticity estimation module receives a data request for an item associated with an individual entity, and identifies a value response curve for the item associated with the individual entity. The elasticity estimation module determines an elasticity measure for the item associated with the individual entity. A value optimization module dynamically adjusts the identified value response curve for the item associated with the individual entity as new data corresponding to the item and the individual entity is received, and generates a value optimization recommendation based on the dynamic adjustment.
Claims20
A system for entity-specific value optimization, the system comprising:
- an interface coupled to a communication network;
- at least one processor coupled to the interface via the communication network;
- a value optimization module, implemented on the at least one processor, that receives a data request for an item, the data request associated with an individual entity;
- a normalization module communicatively coupled to the price optimization module that:
- obtains item-entity data corresponding to the item and the individual entity;
- identifies one or more entity-specific factors associated with the item-entity data;
- and
- normalizes the item-entity data based on the one or more entity-specific factors;
- and
- an elasticity estimation module, implemented on the at least one processor, that:
- receives the normalized item-entity data for the data request from the normalization module;
- identifies a value response curve for the item associated with the data request using the normalized item-entity data;
- and
- generates an item-entity specific elasticity measure for the item associated with the data request, the value optimization module further generating a value optimization recommendation based on the determined item-entity specific elasticity measure.
A method for entity-specific value optimization implemented on at least one processor, comprising:
- receiving a data request for an individual item associated with an individual entity via a communication network coupled to the at least one processor;
- obtaining item-entity data for the individual item relative to the individual entity, the item-entity data including value and volume information;
- determining whether the value and volume information of the item-entity data reaches a threshold;
- responsive to a determination that the value and volume information of the item-entity data reaches the threshold, normalizing the value and volume information using one or more entity-specific factors associated with the individual entity;
- calculating an elasticity measure of the individual item relative to the individual entity corresponding to a given time period using the normalized value and volume information of the item-entity data;
- generating a value optimization recommendation based at least in part on the calculated elasticity measure;
- dynamically receiving new data related to the individual item associated with the individual entity corresponding to a new time period;
- and
- generating a new value optimization recommendation for the new time period based at least in part on the dynamically received new data.
One or more computer storage devices having computer-executable instructions stored thereon for entity-specific value optimization, which, on execution by a computer, cause the computer to perform operations comprising:
- an interface component that receives a data request for an item, the data request associated with an individual entity and corresponding to a given period of time;
- a normalization component that obtains item-entity data for the item associated with the individual entity and normalizes the item-entity data based on one or more entity-specific factors associated with the individual entity;
- an elasticity estimation component that determines an elasticity measure for the item associated with the individual entity using the normalized item-entity data;
- and
- a value optimization component that generates a value optimization recommendation for the item associated with the individual entity based at least in part on the elasticity measure.
Dependencies are inferred from the claim text.