Computer-Implemented Systems And Methods Of Product Forecasting For New Products
First Claim
1. A computer-implemented method for providing a new product forecast for performance of a product to be newly introduced in a market, the method comprising:
- (a) querying a first group of historical products for which historical market performance series data and product attribute data are available in order to identify a first set of candidate series data from a subgroup of products, the members of which share one or more product attributes with the new product;
(b) filtering the first set of candidate series data to add to or remove from the first set of candidate series data historical market performance series data for one or more products, thereby resulting in a set of surrogate series data;
(c) extracting a set of statistical modeling features from the set of surrogate series data; and
(d) forecasting the performance of the new product using the set of statistical modeling features extracted from the set of surrogate series data;
wherein one or more graphical user interfaces are provided to;
(e) perform a specification sub-step wherein the specification sub-step facilitates an analyst specifying statistical analysis to be performed;
(f) perform an analysis sub-step wherein the analysis sub-step performs the specified statistical analysis and generates statistical analysis results;
(g) perform an exploration sub-step wherein the exploration sub-step facilitates the analyst visually exploring the statistical analysis results;
(h) perform a judgment sub-step wherein the judgment sub-step facilitates the analyst overriding the statistical analysis results with human judgment; and
(i) perform a feedback sub-step wherein the feedback sub-step facilitates the analyst'"'"'s visual analysis of impact of the override;
wherein the one or more graphical user interfaces are used within said steps (a)-(d) to facilitate structured judgment analysis in analyzing the forecast for the new product;
wherein the new product forecast is provided to a user or an external system.
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Abstract
Computer-implemented systems and methods are provided for forecasting the performance of products newly introduced to a market. For example, a business that seeks to introduce a new product onto the market may query the data maintained by the business about the results of previous introductions of new products. Further, the computer-implemented systems and methods, with or without the intervention of a human expert, may assess which of the historical products are most similar to the new product that the business seeks to introduce, and thus may use the most similar product as the basis for forming a product forecast for the product that is to be newly introduced.
115 Citations
17 Claims
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1. A computer-implemented method for providing a new product forecast for performance of a product to be newly introduced in a market, the method comprising:
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(a) querying a first group of historical products for which historical market performance series data and product attribute data are available in order to identify a first set of candidate series data from a subgroup of products, the members of which share one or more product attributes with the new product; (b) filtering the first set of candidate series data to add to or remove from the first set of candidate series data historical market performance series data for one or more products, thereby resulting in a set of surrogate series data; (c) extracting a set of statistical modeling features from the set of surrogate series data; and (d) forecasting the performance of the new product using the set of statistical modeling features extracted from the set of surrogate series data; wherein one or more graphical user interfaces are provided to; (e) perform a specification sub-step wherein the specification sub-step facilitates an analyst specifying statistical analysis to be performed; (f) perform an analysis sub-step wherein the analysis sub-step performs the specified statistical analysis and generates statistical analysis results; (g) perform an exploration sub-step wherein the exploration sub-step facilitates the analyst visually exploring the statistical analysis results; (h) perform a judgment sub-step wherein the judgment sub-step facilitates the analyst overriding the statistical analysis results with human judgment; and (i) perform a feedback sub-step wherein the feedback sub-step facilitates the analyst'"'"'s visual analysis of impact of the override; wherein the one or more graphical user interfaces are used within said steps (a)-(d) to facilitate structured judgment analysis in analyzing the forecast for the new product; wherein the new product forecast is provided to a user or an external system. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A computer-implemented system for providing a new product forecast for performance of a product to be newly introduced in a market, said system comprising:
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software instructions configured to operate on a processor for querying a first group of historical products for which historical market performance series data and product attribute data are available in order to identify a first set of candidate series data from a subgroup of products, the members of which share one or more product attributes with the new product; software instructions configured to operate on a processor for filtering the first set of candidate series data to add to or remove from the first set of candidate series data historical market performance series data for one or more products, thereby resulting in a set of surrogate series data; software instructions configured to operate on a processor for extracting a set of statistical modeling features from the set of surrogate series data; and software instructions configured to operate on a processor for forecasting the performance of the new product using the set of statistical modeling features extracted from the set of surrogate series data; one or more graphical user interfaces configured to; perform a specification sub-step wherein the specification sub-step facilitates an analyst specifying statistical analysis to be performed; perform an analysis sub-step wherein the analysis sub-step performs the specified statistical analysis and generates statistical analysis results; perform an exploration sub-step wherein the exploration sub-step facilitates the analyst visually exploring the statistical analysis results; perform a judgment sub-step wherein the judgment sub-step facilitates the analyst overriding the statistical analysis results with human judgment; and perform a feedback sub-step wherein the feedback sub-step facilitates the analyst'"'"'s visual analysis of impact of the override; wherein the one or more graphical user interfaces are used to facilitate structured judgment analysis in analyzing the forecast for the new product; wherein the new product forecast is provided to a user or an external system.
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Specification