TWO SIGMA INTELLIGENCE

• US 20140089041A1
• Filed: 09/27/2012
• Published: 03/27/2014
• Est. Priority Date: 09/27/2012
• Status: Abandoned Application

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Vedabrata, Arya Kumar, Bajaj, Parul, Karri, Aditya Panini, Katuri, Chandrasekhar, Maddila, Santosh
• Application Number:
  US13/628,361
• Publication Number:
  US 20140089041A1
• Time in Patent Office: Days
• US Class Current: 705/7.29
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising

Abstract

Apparatus for identifying misclassified customers in a customer database is provided. The apparatus may include a receiver configured to receive information corresponding to a plurality of customers and information corresponding to a plurality of transactions. The apparatus may additionally include a processor configured to calculate a mean transaction value and a standard deviation from the mean transaction value, wherein the mean transaction value is calculated using the plurality of transactions. The processor may be further configured to identify a subset of customers included in the plurality of customers and modify at least a portion of the electronic classifications of the subset of customers. The modification may include changing an individual customer classification to a small business or preferred customer classification.

Claims

1. Apparatus for identifying misclassified customers in a customer database, the apparatus comprising:

a receiver configured to receive information corresponding to a plurality of customers, wherein each of the plurality of customers are electronically classified as an individual customer in a database;

the receiver being further configured to receive information corresponding to a plurality of transactions, wherein each of the plurality of transactions corresponds to a transaction executed by one of the plurality of customers during a predetermined time period;

a processor configured to calculate a mean transaction value and a standard deviation from the mean transaction value, wherein the mean transaction value is calculated using the plurality of transactions;

the processor being further configured to identify a subset of customers included in the plurality of customers, wherein each of the customer included in the subset of customers are customers who have spent, during the predetermined time period, a total value of funds equal to or greater than a two sigma transaction value, wherein the two sigma transaction value is equal to the mean transaction value plus twice the standard deviation; and

the processor being further configured to modify at least a portion of the electronic classifications associated with the subset of customers, wherein the modification includes changing the individual customer classification to a small business classification.

2. The apparatus of claim 1 wherein the processor is further configured to normalize the mean transaction value and the standard deviation.

3. The apparatus of claim 1 wherein the total value of funds are a total value of funds spent in a transaction category.

4. The apparatus of claim 3 wherein the transaction category is a jewelry transaction category.

5. The apparatus of claim 3 wherein the transaction category is a gasoline transaction category.

6. The apparatus of claim 1 wherein the predetermined time period is a one month time period.

7. The apparatus of claim 1 wherein the receiver is further configured to receive information relating to the subset of customers, wherein the information received includes information relating to the employment, place of residence and estimated net worth of each of the subset of customers.

8. One or more non-transitory computer-readable media storing computer-executable instructions which, when executed by a processor on a computer system, perform a method for identifying misclassified customers in a customer database, the method comprising:

using a receiver to receive information corresponding to a plurality of customers;

using the receiver to receive information corresponding to a plurality of transactions, wherein each of the plurality of transactions corresponds to a transaction executed by one of the plurality of customers during a predetermined time period;

using a processor to calculate a mean transaction value and a standard deviation from the mean transaction value, wherein the mean transaction value is calculated using the plurality of transactions; and

using the processor to identify a subset of customers included in the plurality of customers, wherein each of the customer included in the subset of customers are customers who have spent, during the predetermined time period, a total value of funds equal to or greater than a two sigma transaction value, wherein the two sigma transaction value is equal to the mean transaction value plus twice the standard deviation.

9. The computer-readable media of claim 8 wherein, in the method, the processor is further configured to normalize the mean transaction value and the standard deviation.

10. The computer-readable media of claim 8 further comprising using a storage module to store information corresponding to the subset of customers.

11. The computer-readable media of claim 8 wherein, in the method, the processor:

identifies an additional subset of customers upon the lapse of a predetermined time period; and

stores information corresponding to the additional subset of customers in a database.

12. The computer-readable media of claim 11 wherein, in the method, the processor is further configured to modify the electronic classification for each customer included in the plurality of customers who has been included in both the subset of customers and the additional subset of customers.

13. The computer-readable media of claim 8 wherein, in the method, the processor is further configured to query one or more databases for personal information corresponding to the subset of customers, wherein the personal information includes a place of employment and place of residence.

14. The computer-readable media of claim 8 wherein, in the method, the total value of funds are a total value of funds spent in a transaction category.

15. The computer-readable media of claim 8 wherein, in the method, the processor is further configured to modify, for the subset of customers, electronic data relating to products and services electronically transmitted to the subset of customers.

16. Apparatus for identifying misclassified customers in a customer database, the apparatus comprising:

a receiver configured to receive information corresponding to a plurality of customers;

the receiver being further configured to receive information corresponding to a plurality of transactions, wherein each of the plurality of transactions corresponds to a transaction executed by one of the plurality of customers during a predetermined time period;

a processor configured to calculate a mean transaction value and a standard deviation from the mean transaction value, wherein the mean transaction value is calculated using the plurality of transactions; and

the processor being further configured to identify a subset of customers included in the plurality of customers, wherein each of the customer included in the subset of customers are customers who have spent, during the predetermined time period, a total value of funds equal to or greater than a two sigma transaction value, wherein the two sigma transaction value is calculated by the equation;

(mean transaction value)+2*(standard deviation)±

(adjustment value).

17. The apparatus of claim 16 wherein each of the plurality of customers are electronically classified as an individual customer in a database.

18. The apparatus of claim 17 wherein the processor is further configured to modify at least a portion of the electronic classifications associated with the subset of customers, wherein the modification includes changing the individual customer classification to a preferred customer classification.

19. The apparatus of claim 16 wherein the receiver is further configured to receive information relating to the subset of customers, wherein the information received includes information relating to the employment, place of residence and estimated net worth of each of the subset of customers.

20. The apparatus of claim 16 wherein the processor is further configured to modify an electronic algorithm, wherein the modification alters the products and services electronically generated and transmitted to the subset of customers.