Invention Grant
- Patent Title: Systems and methods for price testing and optimization in brick and mortar retailers
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Application No.: US16157018Application Date: 2018-10-10
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Publication No.: US10915912B2Publication Date: 2021-02-09
- Inventor: Michael Montero , Jamie Eldredge , Daniel Gibson , David Moran , Jamie Rapperport
- Applicant: Eversight, Inc.
- Applicant Address: US CA Palo Alto
- Assignee: Eversight, Inc.
- Current Assignee: Eversight, Inc.
- Current Assignee Address: US CA Palo Alto
- Agent Kang S. Lim
- Main IPC: G06Q30/00
- IPC: G06Q30/00 ; G06Q30/02

Abstract:
Systems and methods for optimizing base pricing of products within a physical retailer are provided. Such systems and methods include first collecting transaction logs for products in a set of physical retail spaces. These logs are validated, adjusted and elasticities between the products are computed. The adjustment may be responsive to the day, by retailer and by a host of external factors (e.g., weather). The adjustment may also include a normalization and filtering out of inaccurate log data. Elasticity is calculated by generalized linear models. A set of constraints are then received and used, along with the elasticities.
Public/Granted literature
- US20190108538A1 SYSTEMS AND METHODS FOR PRICE TESTING AND OPTIMIZATION IN BRICK AND MORTAR RETAILERS Public/Granted day:2019-04-11
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