Coin operated device collection scheduler

• US 5,924,076 A
• Filed: 08/16/1996
• Issued: 07/13/1999
• Est. Priority Date: 08/16/1996
• Status: Expired due to Term

• Current Assignee: Verizon Patent and Licensing Incorporated (Verizon Communications Inc.)
• Original Assignee: Bell Atlantic Science & Technology, Inc. (Verizon Communications Inc.)
• Inventors: Carr, Brian P., Meng, Alex C., Sah, Rajesh Kumar
• Primary Examiner(s): MacDonald, Allen R.
• Assistant Examiner(s): Patel, Jagdish
• Application Number:
  US08/697,020
• Time in Patent Office: 1,061 Days
• Field of Search: 705/7, 705/8, 705/9, 705/22
• US Class Current: 705/7.12
• CPC Class Codes: G06Q 10/0631 Resource planning, allocation, distributing or scheduling for enterprises or organisations
• CPC Class Codes: G06Q 10/0635 Risk analysis of enterprise or organisation activities
• CPC Class Codes: G06Q 20/203 Inventory monitoring
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• CPC Class Codes: G06Q 99/00 Subject matter not provided for in other groups of this subclass

Abstract

A method for determining an optimal coin operated coin collection date accounts for weather and seasonal effects on the expected revenue stream. One method according to the present invention may include: determining the expected base revenue for the coin operated device; adjusting, if necessary, the expected base revenue to account for the effects of weather and season; and determining the optimal collection date using the adjusted revenue.

Claims

1. A method for determining and outputting an optimal collection date for a coin operated device, the method comprising the steps of:

a. a processor determining a base revenue and a target revenue for the coin operated device;

b. the processor adjusting the determined base revenue to account for weather and seasonal variations in expected revenue;

c. using the adjusted base revenue, the processor determining the optimal collection date;

d. the processor adjusting the optimal collection date to coincide with an actual collection date, wherein the step of adjusting the collection date includes selecting from data stored in a collection route information database an actual collection date just prior to the determined optimal collection date; and

e. outputting the adjusted optimal collection date from the processor to create a coin collection schedule.

8. The method of claim 1, wherein the step of adjusting the determined base revenue to account for weather variations in expected revenue further comprises adjusting a revenue stream unit by a predetermined weather index stored in a seasonal information database.

9. The method of claim 1, wherein the step of adjusting the determined base revenue to account for seasonal variations in expected revenue further comprises adjusting a revenue stream unit by a predetermined seasonal index.

2. A method for determining and outputting an optimal collection date for a coin operated device, the method comprising the steps of:

a. a processor determining a base revenue and a target revenue for the coin operated device, wherein the step of determining the base revenue and target revenue uses data stored in a previous collection database and further includes;

a1. eliminating from consideration unreliable previous collection data;

a2. adjusting reliable previous collection data to eliminate volatility due to weather and seasonal effects;

a3. using the adjusted data, determining a previous revenue stream; and

a4. using the previous revenue stream, determining the base and target revenue;

b. a processor adjusting the determined base revenue to account for weather and seasonal variations in expected revenue;

c. using the adjusted base revenue, the processor determining the optimal collection date; and

d. outputting the determined optimal collection date from the processor to create a coin collection schedule.

3. The method of claim 2, wherein the step of eliminating includes eliminating data which is one of ten times greater and ten times smaller than an average value.

4. The method of claim 2, wherein the step of removing data relating to weather and seasonal effects further includes dividing the reliable previous collection data by predetermined indices.

5. The method of claim 2, wherein the step of determining a previous revenue stream further includes combining collected revenue amounts from a predetermined number of previous collections.

6. The method of claim 2, wherein the step of determining the base revenue further includes dividing the previous revenue stream by an appropriate number of revenue stream units.

7. The method of claim 2, wherein the step of determining the target revenue further includes determining the target revenue according to the equation:

space="preserve" listing-type="equation">Full Revenue=TargetRevenue+(Riskfactor*Square root (TargetRevenue);

where;

FullRevenue is a maximum revenue amount for the coin operated device; and

Riskfactor is a multiple of a volatility of the coin operated device.

10. A method for determining and outputting an optimal collection date for a coin operated device, the method comprising the steps of:

a. a processor determining a base revenue and a target revenue for the coin operated device;

b. a processor adiusting the determined base revenue to account for weather and seasonal variations in expected revenue;

c. using the adjusted base revenue, the processor determining the optimal collection date, wherein the step determining the optimal collection date includes adding adjusted revenue stream units until a total added adjusted revenue stream is a greatest amount not exceeding the target revenue; and

d. outputting the determined optimal collection date from the processor to create a coin collection schedule.

11. A method for determining and outputting an effect of weather on a coin operated device revenue stream, using data stored in a previous collection database, the method comprising the steps of:

a. a processor eliminating unreliable previous collection data;

b. the processor determining revenue stream volatility from reliable previous collection date data; and

c. using the reliable data, the processor determining weather indices;

d. outputting the determined weather indices from the processor to create a coin collection schedule.

12. The method of claim 11, wherein the step of eliminating unreliable data includes eliminating data which is one of ten times greater and ten times smaller than an average value.

13. The method of claim 11, wherein the step of determining the revenue stream volatility includes determining a standard deviation of a predetermined number of revenue collections relative to an annual average revenue stream.

14. The method of claim 11, wherein the step of determining weather indices further includes:

a. selecting a percentage of consistent revenue streams for a weather index block;

b. determining an average revenue stream for the coin operated device for the weather index block; and

c. determining a standard deviation of the average revenue stream for the coin operated device.

15. The method of claim 14, wherein the step of determining further includes:

a. combining standard deviations for all weather index blocks; and

b. applying a weighted average on each weather index block.

16. The method of claim 14, wherein the step of determining weather indices further includes determining a multiplication factor for a particular coin operated device.

17. The method of claim 16, wherein the step of determining a multiplication factor includes:

a. determining a variation of the particular coin operated device'"'"'s deviation from the annual average with an expected deviation from the annual average; and

b. using this determination, computing the multiplication factor.

18. The method of claim 17, further comprising applying the computed multiplication factor if the factor reduces volatility of the particular coin operated device.

19. A method for determining a seasonal effect on a coin operated device revenue stream, the method comprising the steps of:

a. a processor determining if sufficient previous revenue collection data exists to determine a valid seasonal effect;

b. the processor, using the previous revenue collection data, determining a deviation of a revenue stream for a seasonal block from an annual average revenue stream; and

c. outputting the determined deviation of the revenue stream from the processor to create a coin collection schedule.

20. The method of claim 19, wherein the step of determining if sufficient information exists further includes considering seasonal effects of seasonal blocks in periods within a minimum overlap period.

21. The method of claim 20, further including applying the seasonal index according to a size of the overlap period and an amount of decrease in revenue volatility.

22. A device for determining an optimal collection date for a coin operated device, comprising:

a. a first database containing collection and revenue data;

b. a second database containing weather information;

c. a third database containing collection route information;

d. a processor responsive to the first, second, and third databases and configured to determine the optimal collection date for the coin operated device based on data in the databases; and

e. an input and output connected to the processor, such that said output outputs the determined optimal collection date to create a coin collection schedule.

23. The device of claim 22, wherein the first database contains collection dates and collected revenue amounts.

24. The device of claim 22, wherein the second database includes historic weather information, current weather forecasts, and regional average information.

25. The device of claim 22, wherein the third database includes coin operated device location information and coin collection route information.