Compensation data prediction
First Claim
1. A method of predicting compensation data, the method comprising:
- obtaining compensation data, associated with a job category, with at least one datum being associated with each of a plurality of characteristics associated with the job category;
determining values of factors, associated with respective ones of the characteristics, and a base value that when used as operands of a function yield estimates of the obtained data such that relationships between the estimates and corresponding obtained compensation data satisfy at least one criterion; and
using a portion of the values of factors and the base value by a computer to automatically obtain estimates of compensation data.
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Accused Products
Abstract
A method of predicting compensation data includes obtaining compensation data, associated with a job category, with at least one datum being associated with each of a plurality of characteristics associated with the job category, determining values of factors, associated with respective ones of the caracteristics, and a base value that when used as operands of a function yield estimates of the obtained data such that relationships between the estimates and corresponding obtained compensation data satisfy at least one criterion, and using a portion of the values of factors and the base value by a computer to automatically obtain estimates of compensation data.
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Citations
32 Claims
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1. A method of predicting compensation data, the method comprising:
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obtaining compensation data, associated with a job category, with at least one datum being associated with each of a plurality of characteristics associated with the job category;
determining values of factors, associated with respective ones of the characteristics, and a base value that when used as operands of a function yield estimates of the obtained data such that relationships between the estimates and corresponding obtained compensation data satisfy at least one criterion; and
using a portion of the values of factors and the base value by a computer to automatically obtain estimates of compensation data. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19)
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20. A system for estimating compensation data, the system comprising:
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a communications network interface configured to be coupled to a communications network;
a storage device configured to store compensation data; and
a processor coupled to the network interface and to the storage device and configured to;
calculate a base value associated with the stored compensation data by solving a relationship for reference data using the stored compensation data and predetermined values of training factors associated with scope criteria of the compensation data, the relationship relating the reference data, compensation data, and the values of the training factors, the processor further configured to calculate the base value by combining the reference data to determine the base value; and
determine estimated compensation data by solving the relationship for the compensation data using values of the training factors and the base value. - View Dependent Claims (21, 22, 23, 24, 25, 26, 27, 28, 29)
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30. A method of predicting compensation data, the method comprising:
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collecting compensation data for each of a plurality of jobs, at least one datum being associated with each of a respective plurality of associated scope criteria for each job;
deriving reference data for each of the plurality of jobs in accordance with a function relating collected compensation data, the reference data, and respective training factors indicative of the respective associated scope criteria;
aggregating the reference data associated with each of a plurality of jobs to determine respective aggregated reference data;
using a portion of the respective training factors and the respective aggregated reference data to determine respective estimated compensation data for each of the plurality jobs;
comparing the respective estimated compensation data with collected compensation data of the same job and having the same associated training factors;
iterating the respective training factors as appropriate; and
repeating the deriving, aggregating, using, comparing, and iterating until the compared estimated and collected compensation data satisfy at least one comparison criterion. - View Dependent Claims (31, 32)
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Specification