Computer-based modeling of spending behaviors of entities
First Claim
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1. A method for modeling consumer behavior to estimate consumer spend, comprising:
- receiving individual and aggregated consumer data including consumer panel data, tradeline data and internal customer data;
analyzing the individual and aggregated consumer data to determine spending behavior for at least one category of consumers;
deriving a model of consumer spending patterns for the at least one category based on said analyzing; and
validating the model using consumer panel data.
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Abstract
Time series consumer spending data, point-in-time balance information and consumer panel information provide input to a model for consumer spend behavior on plastic instruments or other financial accounts, from which approximations of spending ability and share of wallet may be reliably identified and utilized to promote additional consumer spending.
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Citations
23 Claims
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1. A method for modeling consumer behavior to estimate consumer spend, comprising:
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receiving individual and aggregated consumer data including consumer panel data, tradeline data and internal customer data; analyzing the individual and aggregated consumer data to determine spending behavior for at least one category of consumers; deriving a model of consumer spending patterns for the at least one category based on said analyzing; and validating the model using consumer panel data. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A method for estimating a purchasing ability of a consumer, comprising:
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receiving tradeline data for a plurality of accounts of an individual consumer for a previous period of time; identifying any balance transfers into at least one of the plurality of accounts, based on the tradeline data; discounting any spending identified for any of the plurality of accounts for any portion of the previous period of time in which a balance transfer to such account is identified; and estimating a purchasing ability of the individual consumer based on the tradeline data, said discounting and a model of consumer spending patterns derived from individual and aggregate consumer data including tradeline data, internal customer data and consumer panel data. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22)
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23. An apparatus for estimating a purchasing ability of a consumer, comprising:
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a processor; and a memory in communication with the processor, the memory for storing a plurality of processing instructions for directing the processor to; receive individual and aggregated consumer data including tradeline data, internal customer data and consumer panel data for a plurality of different consumers; determine at least two categories of consumers based on the individual and aggregated consumer data, the first category including consumers that primarily pay down credit account balances and the second category including consumers that primarily revolve credit account balances; model consumer spending patterns for each of the first and second categories based on the individual and aggregated consumer data; receive tradeline data for a plurality of accounts of an individual consumer for a previous period of time, identify any balance transfers into at least one of the plurality of accounts, based on the tradeline data; discount any spending identified for any of the plurality of accounts for any portion of the previous period of time in which a balance transfer is identified; assign one of the first and second categories to the individual based on the tradeline and consumer panel data, after said discounting; estimate a purchasing ability of the individual consumer based on the assigned category, and the consumer spending pattern modeled for the assigned category; and change the terms of a credit account of the individual based on said estimating.
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Specification