METHOD AND SYSTEM FOR IDENTIFYING A COHORT OF USERS BASED ON PAST SHOPPING BEHAVIOR AND OTHER CRITERIA
First Claim
1. A method for identifying group members, comprising:
- identifying demographic characteristics of members of a group via market research;
identifying purchasing behaviors of the members of the group via market research;
correlating the identified demographic characteristics with the identified purchasing behaviors to identify merchants whom the members of the group tend to patronize;
gathering transaction data from a financial account of a user at a financial institution for processing transactions between the user and a plurality of merchants and providers;
clustering users using their transaction data with the identified merchants to from a plurality of clusters;
analyzing the characteristics of each cluster and identifying at least one cluster that has the identified demographic characteristics; and
presenting to the user in an online statement of the user'"'"'s account a savings opportunity from a merchant seeking to contact members of the group when the characteristics suggest that the user belongs to the at least one cluster.
2 Assignments
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Accused Products
Abstract
Disclosed herein is a method for a merchant to gain information about the purchasing characteristics of a group with which the merchant wishes to interact. Merchants wishing to target group members are not able to specifically identify members of the group through depersonalized transaction data available from financial institutions. Group members are therefore identified through a traditional method: market research. The method also includes noting the purchasing behavior of group members, including providers of goods and services to group members, merchants not patronized by members of the group, and demographic characteristics of the group. An example of such a group is the so-called “millennials”. The identification of group members may be validated through test runs of financial data and fine-tuned to ensure correct identification of group members.
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Citations
23 Claims
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1. A method for identifying group members, comprising:
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identifying demographic characteristics of members of a group via market research; identifying purchasing behaviors of the members of the group via market research; correlating the identified demographic characteristics with the identified purchasing behaviors to identify merchants whom the members of the group tend to patronize; gathering transaction data from a financial account of a user at a financial institution for processing transactions between the user and a plurality of merchants and providers; clustering users using their transaction data with the identified merchants to from a plurality of clusters; analyzing the characteristics of each cluster and identifying at least one cluster that has the identified demographic characteristics; and presenting to the user in an online statement of the user'"'"'s account a savings opportunity from a merchant seeking to contact members of the group when the characteristics suggest that the user belongs to the at least one cluster. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A method for identifying group members, comprising:
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identifying demographic characteristics of members of a group via market research; identifying purchasing behaviors of the members of the group via market research; correlating the identified demographic characteristics with the identified purchasing behaviors to identify merchandise categories typically purchased by the members of the group; gathering transaction data from a financial account of a user at a financial institution for processing transactions between the user and a plurality of merchants and providers; clustering users using their transaction data in the identified merchant categories; analyzing the characteristics of each cluster and identifying at least one cluster that has the identified demographic characteristics; and presenting to the user in an online statement of the user'"'"'s account a savings opportunity from a merchant seeking to contact members of the group when the characteristics suggest that the user belongs to the cluster. - View Dependent Claims (12, 13, 14, 15, 16, 17)
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18. A method for identifying group members, comprising:
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identifying demographic characteristics of members of a group via market research; identifying purchasing behaviors of the members of the group via market research; correlating the identified demographic characteristics with the identified purchasing behaviors to identify purchasing behaviors of the members of the group; defining criteria to identify a member of the group via a purchasing behavior of the member; gathering transaction data from a financial account of a user at a financial institution for processing transactions of the user with a plurality of merchants and providers; analyzing the transaction data of the user to determine whether the transaction data of the user meet two or more of the criteria for the user to be an individual member of the group; and presenting to the user in an online statement of the financial account of the user a savings opportunity from a merchant seeking to contact members of the group having the identified purchasing behaviors when the user meets the two or more of the criteria for the user to be an individual member of the group. - View Dependent Claims (19, 20, 21, 22, 23)
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Specification