METHOD AND SYSTEM FOR PARKING RATE ESTIMATION BASED ON GEOLOCATION AND PAYMENT HISTORY
First Claim
1. A method for estimation of parking rates based on location and transaction data, comprising:
- storing, in a transaction database of a processing server, a plurality of transaction data entries, wherein each transaction data entry is a structured data set related to a payment transaction including at least a geographic location or merchant identifier, transaction time and/or date, and transaction amount;
storing, in a location database of a processing server, a plurality of location data entries, wherein each location data entry is a structured data set related to a consumer geolocation including at least a geographic location, a location time and/or date, and a length of time;
executing, by a querying module of the processing server, a query on the transaction database to identify a subset of transaction data entries where the included geographic location or merchant identifier are associated with a parking area;
executing, by the querying module of the processing server, a query on the location database to identify a subset of location data entries where the included geographic location is included in a predefined geographic area associated with the parking area;
identifying, by a determination module of the processing server, an average parking time based on the length of time included in each of the location data entries included in the identified subset of location data entries;
identifying, by the determination module of the processing server, an average cost amount based on the transaction amount included in each of the transaction data entries included in the identified subset of transaction data entries; and
identifying, by the determination module of the processing server, an estimated parking rate for the parking area based on at least the identified average parking time and identified average cost.
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Accused Products
Abstract
A method for estimation of parking rates based on location and transaction data includes: storing transaction data entries, each including a geographic location or merchant identifier and transaction amount; storing location data entries, each including a geographic location and a length of time; identifying a subset of transaction data entries where the included geographic location or merchant identifier are associated with a parking area; identifying a subset of location data entries where the included geographic location is included in a predefined geographic area associated with the parking area; identifying an average parking time based on the length of time in each location data entry of the subset; identifying an average cost amount based on the transaction amount included in each transaction data entry of the subset; and identifying an estimated parking rate for the parking area based on the average parking time and cost.
17 Citations
20 Claims
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1. A method for estimation of parking rates based on location and transaction data, comprising:
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storing, in a transaction database of a processing server, a plurality of transaction data entries, wherein each transaction data entry is a structured data set related to a payment transaction including at least a geographic location or merchant identifier, transaction time and/or date, and transaction amount; storing, in a location database of a processing server, a plurality of location data entries, wherein each location data entry is a structured data set related to a consumer geolocation including at least a geographic location, a location time and/or date, and a length of time; executing, by a querying module of the processing server, a query on the transaction database to identify a subset of transaction data entries where the included geographic location or merchant identifier are associated with a parking area; executing, by the querying module of the processing server, a query on the location database to identify a subset of location data entries where the included geographic location is included in a predefined geographic area associated with the parking area; identifying, by a determination module of the processing server, an average parking time based on the length of time included in each of the location data entries included in the identified subset of location data entries; identifying, by the determination module of the processing server, an average cost amount based on the transaction amount included in each of the transaction data entries included in the identified subset of transaction data entries; and identifying, by the determination module of the processing server, an estimated parking rate for the parking area based on at least the identified average parking time and identified average cost. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A system for estimation of parking rates based on location and transaction data, comprising:
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a transaction database of a processing server configured to store a plurality of transaction data entries, wherein each transaction data entry is a structured data set related to a payment transaction including at least a geographic location or merchant identifier, transaction time and/or date, and transaction amount; a location database of a processing server configured to store a plurality of location data entries, wherein each location data entry is a structured data set related to a consumer geolocation including at least a geographic location, a location time and/or date, and a length of time; a querying module of the processing server configured to execute a query on the transaction database to identify a subset of transaction data entries where the included geographic location or merchant identifier are associated with a parking area, and execute a query on the location database to identify a subset of location data entries where the included geographic location is included in a predefined geographic area associated with the parking area; and a determination module of the processing server configured to identify an average parking time based on the length of time included in each of the location data entries included in the identified subset of location data entries, identify an average cost amount based on the transaction amount included in each of the transaction data entries included in the identified subset of transaction data entries, and identify an estimated parking rate for the parking area based on at least the identified average parking time and identified average cost. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
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Specification