Method and system for management of a wait list for reserved purchases
First Claim
1. In a computer environment, a method for materialization forecasting with respect to wait-listed reservations made by persons for the potential purchase of perishable commodities, comprising the steps of:
- gathering past reservation information relating to past reservations for perishable commodities that have already perished;
gathering wait list reservation information relating to wait-listed reservations for perishable commodities that have not yet perished;
comparing, using a processor in said computer environment, said past reservation information and said wait list reservation information;
calculating, using said processor, based on said comparison, the likelihood that said wait-listed reservations will materialize if promoted to reserved status;
determining the revenue value of each of said wait-listed reservations;
ordering said wait-listed reservations based on a combination of their likelihood of materialization and their revenue value; and
outputting said ordered wait-listed reservations.
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Abstract
The present invention provides a system and method for predicting the likelihood of materialization of pending wait-listed reservations for the purchase of perishable commodities. Details pertaining to perishable commodities for which reservations for purchase have been made in the past, are gathered and analyzed as are details pertaining to reservation requests stored in a wait list. Based upon the analysis, the likelihood that a particular pending reservation will actually be purchased or “materialize” if it is taken off the wait-list and actually reserved is determined and this information is utilized for yield management.
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Citations
27 Claims
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1. In a computer environment, a method for materialization forecasting with respect to wait-listed reservations made by persons for the potential purchase of perishable commodities, comprising the steps of:
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gathering past reservation information relating to past reservations for perishable commodities that have already perished;
gathering wait list reservation information relating to wait-listed reservations for perishable commodities that have not yet perished;
comparing, using a processor in said computer environment, said past reservation information and said wait list reservation information;
calculating, using said processor, based on said comparison, the likelihood that said wait-listed reservations will materialize if promoted to reserved status;
determining the revenue value of each of said wait-listed reservations;
ordering said wait-listed reservations based on a combination of their likelihood of materialization and their revenue value; and
outputting said ordered wait-listed reservations.
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2. In a computer environment, a method for materialization forecasting with respect to wait-listed reservations made by persons for the potential purchase of perishable commodities, comprising the steps of:
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gathering past reservation information relating to past reservations for perishable commodities that have already perished;
gathering wait list reservation information relating to wait-listed reservations for perishable commodities that have not yet perished;
comparing, using a processor in said computer environment, said past reservation information and said wait list reservation information;
calculating, using said processor, based on said comparison, the likelihood that said wait-listed reservations will materialize if promoted to reserved status;
ordering said wait-listed reservations based on their likelihood of materialization; and
outputting said ordered wait-listed reservations. - View Dependent Claims (3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. Computer-readable code stored on media and executable on a computer for conducting materialization forecasting with respect to wait-listed reservations made by persons for the potential purchase of perishable commodities, comprising:
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first subprocesses for gathering past reservation information relating to past reservations for perishable commodities that have already perished;
second subprocesses for gathering wait list reservation information relating to wait-listed reservations for perishable commodities that have not yet perished;
third subprocesses for comparing said past reservation information and said wait list reservation information;
fourth subprocesses for calculating, based on said comparison, the likelihood that said wait-listed reservations will materialize if promoted to reserved status;
fifth subprocesses for ordering said wait-listed reservations based on their likelihood of materialization; and
sixth subprocesses for outputting said ordered wait-listed reservations. - View Dependent Claims (16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27)
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Specification