WO2001057771A1 - System and method for assisting customers in choosing among a set of commodities using customer preferences - Google Patents
System and method for assisting customers in choosing among a set of commodities using customer preferences Download PDFInfo
- Publication number
- WO2001057771A1 WO2001057771A1 PCT/US2001/003659 US0103659W WO0157771A1 WO 2001057771 A1 WO2001057771 A1 WO 2001057771A1 US 0103659 W US0103659 W US 0103659W WO 0157771 A1 WO0157771 A1 WO 0157771A1
- Authority
- WO
- WIPO (PCT)
- Prior art keywords
- customer
- commodity
- parameter
- cost
- value
- Prior art date
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Classifications
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q30/00—Commerce
- G06Q30/02—Marketing; Price estimation or determination; Fundraising
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q30/00—Commerce
- G06Q30/06—Buying, selling or leasing transactions
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
- G06Q40/02—Banking, e.g. interest calculation or account maintenance
Definitions
- the present invention relates to the, sale of commodities, such as products and
- Vendors spend significant amounts of money on educating customers, selling products, and offering
- service provider may spend between $100-$350 to acquire each new customer; however,
- the present invention is directed to a system and method that
- An object of the present invention is to provide a system and method for assisting
- Another object of the present invention is to provide a system and method for
- the present invention provides a
- the present invention provides a system for assisting a customer
- optimizer device that is connected to a network, wherein the customer uses a customer
- the optimizer device includes at least
- one database that contains information about at least one commodity, and at least one
- Fig. 1 is an overall system block diagram of a preferred embodiment of the present invention.
- Fig. 2 is a block diagram illustrating the components of the customer device 100
- Fig. 3 is a block diagram illustrating the components of the optimizer device 300
- FIG. 1; Fig. 4 is a block diagram illustrating an example of a system of the present
- Fig. 5 is a block diagram illustrating a second example of a system of the present
- Fig. 6 is a flow chart depicting one embodiment of an operation of the present
- Fig. 7 is a flow chart depicting the process of deriving the utility functions of the
- Fig. 8 is a sample survey for use in calculating utility equations for an Internet
- Fig. 9 is a flow chart depicting the effective cost calculation of the present
- the present invention provides an integrated system and method to assist a
- present invention determines the optimal commodity choices for a customer based on
- goods, products, services, and/or service plans can be optimized by the system and
- the commodity includes commodities that sell for
- the present invention includes an optimizer device 300 that is connected to a network 200.
- a customer device 100 accesses the optimizer device 300 through the network 200.
- Network 200 may be any type of computer network, such as the Internet, an Intranet, or an
- Extranet for example.
- Access devices such as phone lines, cable lines, fiber optic cables,
- wireless communication systems may be used to access the network 200.
- One or more types of access devices may be used to connect to the network 200.
- the customer device 100 may access the network 200 using a wireless communication system,
- the optimizer device 300 may. access the network 200 using fiber optic cables.
- the customer device 100 is used by a customer device 100 to, consumers, businesses, or government entities.
- the customer device 100 is used by a customer device 100 to, consumers, businesses, or government entities.
- the customer device 100 is used by a customer device 100 to, consumers, businesses, or government entities.
- the customer device 100 is used by a customer device 100 to, consumers, businesses, or government entities.
- the customer device 100 is used by a customer device 100 to, consumers, businesses, or government entities.
- the customer device 100 may be a personal
- the customer device 100 may include a browser 110, such as a world wide web browser; other software and data storage 120; at least one input device 130, such as a
- At least one communications device 140 such as a modem
- processor 150 one processor 150; memory 160, and at least one output device 170, such as a monitor; all
- the memory 160 may be Random Access Memory (RAM), Read Only Memory (ROM), and
- the optimizer device 300 shown in Fig. 1 will be described now.
- the optimizer device 300 may include a web server component 310, a processing
- the optimizer device 300 also may include at least one administrative interface for administering the various components.
- web server component 310 may be used to host a web site.
- the web server 320 may include optimization and database interaction routines.
- the component 310 and the processing component 320 may be used to obtain information
- the commodity database 340 stores information on the vendors and commodities.
- Vendors in the present invention may include, but are not limited to, merchants, service
- Vendors may either sell the
- the administrative interface may be used
- the vendors and commodities may be indexed in the commodity database
- the commodity database 340 may include
- the commodity database may include
- ISPs information about ISPs such as geographic area indicating the area where the ISP provides
- rating may be a third party rating or a rating based on previously collected samples of
- the optimization database 350 stores utility functions, constants, supporting
- the utility function may be an equation for
- Key parameters may include, but are not limited to, features,
- the optimization database 350 may contain utility functions for calculating the value
- the optimization database 350 also stores other optimization equations, such as
- Estimated cost equations represent
- the estimated cost equation is based on usage of the
- the estimated cost equation may also include other costs, such as online billing costs if the
- This computer may use a desktop or laptop computer as customer device 100. This computer may use a desktop or laptop computer as customer device 100. This computer may be used to provide a desktop or laptop computer as customer device 100. This computer may be used to provide a desktop or laptop computer as customer device 100. This computer may be used to provide a desktop or laptop computer as customer device 100. This computer may be used to provide a desktop or laptop computer as customer device 100. This computer may be used to provide a desktop or laptop computer as customer device 100. This computer may
- an application server may be
- This server may include the web server component 310,
- Optimizer device 300 and customer device 100 are connected
- Network 200 such as the Internet.
- the customer may use the
- communications device 140 in his computer to connect to the Internet and access the web
- Fig. 5 shows a second implementation and is similar to Fig. 4 with the exception of
- the optimizer device 300 In Fig. 5, the optimizer device 300 consists of three servers, instead of one. Moreover, these three servers may be connected to each other, for example
- LAN Local Area Network
- the web server component 310 may run on Server 1
- optimizer device 300 may run on Servers 2 or 3. Depending on the amount of traffic to the web site, more servers may be added if needed.
- step 805 of Fig. 6 the customer uses the customer device 100 to visit the web site hosted
- the web server component 310 may use the browser 110,
- step 810 For example, if the customer desires to purchase a commodity category, as indicated by step 810. For example, if the customer desires to purchase a commodity category, as indicated by step 810. For example, if the customer desires to purchase a commodity category, as indicated by step 810. For example, if the customer desires to purchase a commodity category, as indicated by step 810.
- the customer selects the camera category. Next, the customer is asked
- step 815 If the customer is a new user to the
- the customer is asked to enter personal information, such as name, address, e-mail
- the system creates an account for the customer and the
- step 820 Alternatively, if the customer already has an account with the
- the system asks the customer for a user name and password at step 819.
- account information may be stored in the customer database 330.
- step 820 the customer with questions relating to the selected commodity category, as indicated by step 820.
- the customer is presented with a set of questions relating to the commodity
- requirements may include requirements that the customer absolutely needs in a commodity and/or geographic area information. For exainple, if the customer is shopping for a four-
- the customer may indicate that as a hard requirement. Preferences
- the customer's preferences about certain features of the commodity may include the customer's preferences about certain features of the commodity.
- Preference weightings may be the relative importance of these preferences against each
- the system may
- the system may also ask the customer to rate the current
- This rating may be used to calculate future quality ratings associated
- the system may also request the customer's estimated approximate usage per
- the system may also ask the customer for preference weightings for connection speed, disk storage space, number of e-mail accounts, quality, and price. Furthermore, the
- the customer may be forced to assign percentages so that the percentages add
- connection speed (30%)
- disk space (10%)
- number of e-mail accounts (10%)
- connection speed (20%) and price (30%). Additionally, the customer may choose to make connection speed, disk storage space, number of e-mail accounts, quality, and/or price hard requirements.
- the geographic area is an automatic hard requirement in the case of an ISP because some
- ISPs only provide service in certain areas.
- This retrieved information may be the information that the customer
- the customer may be presented with this retrieved information and may be
- the system queries the commodity database to find the eligible commodities that meet the customer's hard requirements that
- step 825 were entered in step 825. For example, if a customer is shopping for four-wheel drive
- the system will query the commodity database for four-wheel drive vehicles.
- At least two e-mail accounts are considered by the system to be "eligible”.
- area can be determined through Zipcodes, area codes and exchanges, or any other method known to those skilled in the art. If a particular commodity does not match the hard
- the commodity is discarded as a choice for the customer. Alternatively, if a
- the system identifies the commodity as eligible. As an example, consider a customer located in the 610 area code and 644 exchange
- Table 1 illustrates sample data from the commodity
- Plan 4 is discarded because it is not in the customer's geographic
- the effective cost calculation may be performed in the case of the ISP plans.
- EMC estimated monthly cost
- EMC Monthly cost + Usage Cost * Estimated Usage.
- the Monthly cost is the recurring monthly charge in dollars
- Usage Cost is the cost per time of use in dollars per
- the EMC can be calculated by using the three eligible plans listed in Table 2.
- decision about a commodity may include features, performance, or quality
- connection speed is connection speed; disk space (which the customer, for example, may use
- step 620 the range for each parameter is identified. For example, in the
- the range may be from less than 33kpbs to
- the utility functions may be calculated by using regression analysis, engineering judgement, or a combination of both, as shown in steps 630, 635, 640, 645, and 650. If regression analysis is used, a random set of customers may
- step 635 For example, in the case of an ISP plan, a
- a survey like the one shown in Fig. 8 may be sent to ISP customers.
- the dollar values may be then used to calculate a best-fit utility function via regression analysis, as shown in step 645.
- the utility function may be calculated using engineering judgment, or a
- step 640 engineering judgement may be used to adjust the utility function obtained
- steps 630, 635, 640, and 645 may be repeated to
- the utility functions may be calculated for a
- the spending may be
- step 665 Pcs, Pds, Pq, and Pern represent the preference weightings and will be described in step 665;
- CS, DS, Q, EM, and CL represent connection speed, disk
- CSref, DSref, Qref, EMref, and CLref represent the values entered by the customer in step 825, or predefined, for
- step 655 an independence check is done on each utility function versus the other
- preference weighting such as Kcs, Kds, Kq, and Kem, are calculated by dividing the
- step 665 For example, in the case of an ISP plan, the original regression
- regression analysis are stored in the optimization database 350, as shown in step 670.
- step 910 the utility functions and effective
- step 920 evaluates the customer inputs as indicated by branch A in step 920.
- Effective Cost EMC + Amortized fixed Costs - U(connection speed) - U(disk
- the Amortized fixed costs are equal to (Activation Fee + Equipment Cost)/Contract
- Plan 2 is $18.6, Plan 3 is $32.5, and Plan 5 is $48.4.
- the commodities are ranked based on
- step 955 The highest ranked commodities are presented to
- Plan 2 will be the highest ranked
- the present invention assists both customers and vendors. Customers obtain the
- present invention to select a vendor are likely to stay with this vendor because the commodity selection and thus, the vendor selection, is based on the customer's
Abstract
Description
Claims
Priority Applications (1)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
AU2001234815A AU2001234815A1 (en) | 2000-02-04 | 2001-02-05 | System and method for assisting customers in choosing among a set of commodities using customer preferences |
Applications Claiming Priority (2)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
US49748300A | 2000-02-04 | 2000-02-04 | |
US09/497,483 | 2000-02-04 |
Publications (2)
Publication Number | Publication Date |
---|---|
WO2001057771A1 true WO2001057771A1 (en) | 2001-08-09 |
WO2001057771A9 WO2001057771A9 (en) | 2002-10-17 |
Family
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Family Applications (1)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
PCT/US2001/003659 WO2001057771A1 (en) | 2000-02-04 | 2001-02-05 | System and method for assisting customers in choosing among a set of commodities using customer preferences |
Country Status (2)
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AU (1) | AU2001234815A1 (en) |
WO (1) | WO2001057771A1 (en) |
Cited By (12)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
WO2003052548A2 (en) * | 2001-12-13 | 2003-06-26 | Espeed, Inc. | Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items |
US6761697B2 (en) | 2001-10-01 | 2004-07-13 | L'oreal Sa | Methods and systems for predicting and/or tracking changes in external body conditions |
US7324668B2 (en) | 2001-10-01 | 2008-01-29 | L'oreal S.A. | Feature extraction in beauty analysis |
US7418409B1 (en) | 2003-10-24 | 2008-08-26 | Sachin Goel | System for concurrent optimization of business economics and customer value satisfaction |
US7437344B2 (en) | 2001-10-01 | 2008-10-14 | L'oreal S.A. | Use of artificial intelligence in providing beauty advice |
US7472080B2 (en) | 2003-10-24 | 2008-12-30 | Sachin Goel | Methods and associated systems for an airline to enhance customer experience and provide options on flights |
US7634103B2 (en) | 2001-10-01 | 2009-12-15 | L'oreal S.A. | Analysis using a three-dimensional facial image |
US7983956B1 (en) | 2003-10-24 | 2011-07-19 | Sachin Goel | System and method for providing options on products including flights |
US8140399B1 (en) | 2003-10-24 | 2012-03-20 | Sachin Goel | System for concurrent optimization of business economics and customer value |
US8145535B2 (en) | 2003-10-24 | 2012-03-27 | Sachin Goel | Computer implemented methods for providing options on products |
US8145536B1 (en) | 2003-10-24 | 2012-03-27 | Sachin Goel | System for concurrent optimization of business economics and customer value |
US8165920B2 (en) | 2003-10-24 | 2012-04-24 | Sachin Goel | System for concurrent optimization of business economics and customer value |
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- 2001-02-05 AU AU2001234815A patent/AU2001234815A1/en not_active Abandoned
- 2001-02-05 WO PCT/US2001/003659 patent/WO2001057771A1/en active Application Filing
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US5765144A (en) * | 1996-06-24 | 1998-06-09 | Merrill Lynch & Co., Inc. | System for selecting liability products and preparing applications therefor |
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Cited By (22)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US7324668B2 (en) | 2001-10-01 | 2008-01-29 | L'oreal S.A. | Feature extraction in beauty analysis |
US7634103B2 (en) | 2001-10-01 | 2009-12-15 | L'oreal S.A. | Analysis using a three-dimensional facial image |
US6761697B2 (en) | 2001-10-01 | 2004-07-13 | L'oreal Sa | Methods and systems for predicting and/or tracking changes in external body conditions |
US7437344B2 (en) | 2001-10-01 | 2008-10-14 | L'oreal S.A. | Use of artificial intelligence in providing beauty advice |
GB2400950A (en) * | 2001-12-13 | 2004-10-27 | Espeed Inc | Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items |
WO2003052548A2 (en) * | 2001-12-13 | 2003-06-26 | Espeed, Inc. | Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items |
US8195559B2 (en) | 2001-12-13 | 2012-06-05 | Bgc Partners, Inc. | System and method for determining an index for an item based on market information |
US11093959B2 (en) | 2001-12-13 | 2021-08-17 | Bgc Partners, Inc. | Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items |
WO2003052548A3 (en) * | 2001-12-13 | 2004-02-26 | Espeed Inc | Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items |
US7685050B2 (en) | 2001-12-13 | 2010-03-23 | Bgc Partners, Inc. | Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items |
US7729949B2 (en) | 2001-12-13 | 2010-06-01 | Bgc Partners, Inc. | Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items |
US8543469B2 (en) | 2001-12-13 | 2013-09-24 | Bgc Partners, Inc. | Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items |
US8527363B2 (en) | 2001-12-13 | 2013-09-03 | Bgc Partners, Inc. | Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items |
US8417620B2 (en) | 2001-12-13 | 2013-04-09 | Bgc Partners, Inc. | Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items |
US7418409B1 (en) | 2003-10-24 | 2008-08-26 | Sachin Goel | System for concurrent optimization of business economics and customer value satisfaction |
US8165920B2 (en) | 2003-10-24 | 2012-04-24 | Sachin Goel | System for concurrent optimization of business economics and customer value |
US8145536B1 (en) | 2003-10-24 | 2012-03-27 | Sachin Goel | System for concurrent optimization of business economics and customer value |
US8275667B1 (en) | 2003-10-24 | 2012-09-25 | Sachin Goel | System for concurrent optimization of business economics and customer value satisfaction |
US8145535B2 (en) | 2003-10-24 | 2012-03-27 | Sachin Goel | Computer implemented methods for providing options on products |
US8140399B1 (en) | 2003-10-24 | 2012-03-20 | Sachin Goel | System for concurrent optimization of business economics and customer value |
US7983956B1 (en) | 2003-10-24 | 2011-07-19 | Sachin Goel | System and method for providing options on products including flights |
US7472080B2 (en) | 2003-10-24 | 2008-12-30 | Sachin Goel | Methods and associated systems for an airline to enhance customer experience and provide options on flights |
Also Published As
Publication number | Publication date |
---|---|
WO2001057771A9 (en) | 2002-10-17 |
AU2001234815A1 (en) | 2001-08-14 |
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