Method and apparatus for providing price updates

• US 20040094616A1
• Filed: 10/02/2002
• Published: 05/20/2004
• Est. Priority Date: 10/02/2002
• Status: Active Grant

• Current Assignee: Acoustic, L.P.
• Original Assignee: DemandTec Inc. (International Business Machines Corporation)
• Inventors: Venkatraman, Krishna, Parkin, Rob, Winner, Jeffrey B., Girotto, Jay R., Goodrow, Cristos J.
• Granted Patent: US 6,851,604 B2
• Time in Patent Office: Days
• US Class Current: 235/378
• CPC Class Codes: G06Q 20/201 Price look-up processing, e.g. updating
• CPC Class Codes: G06Q 20/202 Interconnection or interaction of plural electronic cash registers [ECR] or to host computer, e.g. network details, transfer of information from host to ECR or from ECR to ECR
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

A computer implemented method and system for providing price updates is provided. Data is received by a system. The received data is filtered by the system to identify triggers in the received data. Actions related to identified triggers are performed by the system. Business rule compliance is performed according to a business rule hierarchy. Updated prices are provided.

Claims

1. A computer implemented method for providing price updates, comprising:

receiving data;

filtering the received data to identify triggers in the received data;

performing actions related to identified triggers;

performing business rule compliance according to a business rule hierarchy; and

providing updated prices.

2. The computer implemented method, as recited in claim 1, further comprising:

defining a plurality of thresholds to identify triggers;

defining actions related to each trigger of the plurality of triggers; and

defining the business rule hierarchy.

3. The computer implemented method, as recited in claim 2, wherein the actions have a hierarchy, where performing the actions is done according to the hierarchy of the actions.

4. The computer implemented method, as recited in claim 3, wherein performing the business rule compliance is done according to the business rule hierarchy.

5. The computer implemented method, as recited in claim 4, wherein at least one of the triggers is selected from at least one of a new product trigger, a cost change trigger, and a competitor price change trigger.

6. The computer implemented method, as recited in claim 5, wherein at least one of the business rules is selected from at least one of a brand rule, a size rule, and a line rule.

7. The computer implemented method, as recited in claim 6, wherein the business rule hierarchy is user definable.

8. The computer implemented method, as recited in claim 7, wherein the triggers are prioritized and wherein the priority of the trigger is user defined.

9. The computer implemented method, as recited in claim 8, wherein the hierarchy of actions is defined by trigger priority.

10. The computer implemented method, as recited in claim 9, further comprising the step of allowing a user to set a plurality of price indicator ranges.

11. The computer implemented method, as recited in claim 10, further comprising using a tie-breaking process.

12. The computer implemented method, as recited in claim 11, wherein the tie-breaking process selects a result that provides highest prices.

13. The computer implemented method, as recited in claim 12, wherein a single rule hierarchy is used for all triggers.

14. The computer implemented method, as recited in claim 13, wherein each action changes only the price of a product that triggered the action.

15. The computer implemented method, as recited in claim 7, wherein the triggers and actions are product specific.

16. An apparatus for providing price updates, comprising computer readable media, comprising:

computer code for receiving data;

computer code for filtering the received data to identify triggers in the received data;

computer readable code for performing actions related to identified triggers;

computer readable code for performing business rule compliance; and

computer code for providing updated prices.

17. The apparatus, as recited in claim 16, further comprising:

computer readable code for defining a plurality of thresholds to identify triggers;

computer readable code for defining actions related to each trigger of the plurality of triggers; and

computer readable code for defining the business rule hierarchy.

18. The apparatus, as recited in claim 17, wherein the actions have a hierarchy, where the computer readable codes for performing the actions performs the actions according to the hierarchy of the actions.

19. The apparatus, as recited in claim 18, further comprising computer readable code for providing a tie-breaking process.