US Patent:
20130254055, Sep 26, 2013
Inventors:
Prashant Warier - Maharashtra, IN
Omkar Pandit - Maharashtra, IN
Srikanth Velamakanni - Foster City CA, US
Natwar Mall - Mumbai, IN
Assignee:
FRACTAL ANALYTICS, INC. - Jersey City NJ
International Classification:
G06Q 30/06
Abstract:
A commerce system involves purchase transactions between retailers and consumers. The purchase transaction includes products associated by a common product type. A plurality of classifications is defined based on an attribute of the products within the common product type. Transaction probabilities for each classification are determined based on a prior transaction probability and transaction weight for each product. A consumer probability associated with each classification is revised based on a prior consumer probability and the transaction probabilities. The consumer probability indicates a likelihood of a consumer purchasing a product having the attribute associated with the classification. A product probability associated with each classification is revised based on a prior transaction probability, consumer probability, and product weight. The product probability indicates a likelihood of a product having the attribute associated with the classification. Transactions within the commerce system are controlled based on the consumer probability and product probability.