SYSTEM AND METHOD FOR ONLINE SHOPPING OPTIMIZATION
First Claim
1. A method for optimizing online shopping decisions on buying a plurality of items from a plurality of online vendors each having a respective product catalog database, wherein the respective product catalog database includes product specification information and price information for each item contained therein, to obtain a satisfactory value of an objective function reflecting said shopping decisions subject to a plurality of constraints, said method comprising the following steps:
- identifying, using a computing device, a list of items that corresponds to the plurality of items;
searching, using said computing device, the product catalog databases of the plurality of online vendors for said list of items;
constructing, in said computing device, a mathematical programming modeling method for modeling an online shopping decision optimizing problem for purchasing the list of items, wherein said mathematical programming modeling method comprises a plurality of linear functions corresponding to the plurality of constraints that define said online shopping decision optimizing problem; and
solving said online shopping decision optimization problem using a mixed integer programming solution engine.
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Abstract
Online shopping optimization in the context of the present invention refers to making the optimal business decisions with regard to an online or electronic commerce purchase. One aspect of the present invention provides a method comprising extracting buyers'"'"' demand information from buyer-specified items or a previously-configured shopping cart and searching a product catalog that, when provided with the items specified or selected by the buyer, returns exact or equivalent items, such as replacement or substitute products. The method comprises formulating the online shopping decision-making problem into a mathematical programming model. The system systematically and quantitatively makes decisions for a buyer over various cataloged items in order to maximize or minimize an objective function subject to various constraints. Recommended optimized shopping carts are then presented to the buyer.
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Citations
20 Claims
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1. A method for optimizing online shopping decisions on buying a plurality of items from a plurality of online vendors each having a respective product catalog database, wherein the respective product catalog database includes product specification information and price information for each item contained therein, to obtain a satisfactory value of an objective function reflecting said shopping decisions subject to a plurality of constraints, said method comprising the following steps:
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identifying, using a computing device, a list of items that corresponds to the plurality of items; searching, using said computing device, the product catalog databases of the plurality of online vendors for said list of items; constructing, in said computing device, a mathematical programming modeling method for modeling an online shopping decision optimizing problem for purchasing the list of items, wherein said mathematical programming modeling method comprises a plurality of linear functions corresponding to the plurality of constraints that define said online shopping decision optimizing problem; and solving said online shopping decision optimization problem using a mixed integer programming solution engine.
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2. A method for optimizing online shopping decisions of a buyer for purchasing a plurality of items from a plurality of vendors each having a respective product catalog database, the method comprising the steps of:
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compiling a shopping list corresponding to the plurality of items; constructing, via a computing device, a mathematical programming modeling formulation in order to model a decision optimizing problem for purchasing the shopping list, wherein the mathematical programming modeling formulation comprises at least one linear function and the at least one linear function defines the decision optimizing problem; solving, using a mixed integer programming solution engine, the mathematical programming modeling formulation for at least one first solution, wherein the at least one first solution represents a set of consistent shopping decisions; and presenting the at least one first solution to the buyer. - View Dependent Claims (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 optimizing an online shopping decision of a buyer for purchasing an item from a plurality of vendors each having a respective product catalog database, the system comprising:
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a processing device; and memory operatively connected to the processing device, wherein the memory comprises computer instructions that, when executed by the processing device, cause the system to; construct a mathematical programming modeling formulation in order to model the decision optimizing problem, wherein the mathematical programming modeling formation comprises at least one linear equation that defines the decision optimizing problem; solve the mathematical programming modeling formulation using a mixed integer programming solution engine for at least one first solution, wherein the at least one first solution represents a set of consistent shopping decisions; and present the at least one first solution to the buyer.
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Specification