System for concurrent optimization of business economics and customer value satisfaction

• US 7,418,409 B1
• Filed: 10/25/2004
• Issued: 08/26/2008
• Est. Priority Date: 10/24/2003
• Status: Active Grant

• Current Assignee: Tenon & Groove LLC
• Original Assignee: Sachin Goel
• Inventors: Goel, Sachin
• Primary Examiner(s): Smith; Jeffrey A.
• Assistant Examiner(s): Allen; William J.
• Application Number:
  US10/973,802
• Time in Patent Office: 1,401 Days
• Field of Search: 705/1, 705 5- 6, 705 26- 27
• US Class Current: 705/5
• CPC Class Codes: G06Q 10/02 Reservations, e.g. for tickets, services or events
• CPC Class Codes: G06Q 10/025 Coordination of plural reservations, e.g. plural trip segments, transportation combined with accommodation
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/0623 Item investigation

Abstract

A method of dynamically formulating value options that maximize customer satisfaction and company profitability includes identifying a set of demand segments for a company, each demand segment having a satisfaction value. The method further includes identifying a set of demand options falling under each of the demand segments for each product offered by the company, each demand option having a preference value. Whenever a customer demands a product, the method further includes interacting with the customer in a structured manner to determine advanced and ongoing preferences of the customer for the product. The method further includes setting the preference value of each demand option based on the advanced and ongoing preferences of the customer for the product demanded by the customer. The method further includes formulating a set of value options that satisfy the customer demand. Each value option has a set of demand options and a customer satisfaction value based on an aggregate of individual satisfaction values for the demand segments and the company profitability in satisfying the demand options in the value option. The satisfaction value of each demand segment is based on the preference values of the demand options satisfied within the demand segment.

Claims

1. A computerized system for concurrent optimization of value in a transaction between at least two entities, comprising:

a. a data store containing data representing, with respect to at least one product, at least one option offered by a first of said entities;

b. a server with which a second of said entities may interact for at least said option;

c. a server being adapted to receive inputs for at least said option and to search the data store for eligibility of products for at least said option;

d. at least one output device to output from the server the search results;

e. a server being adapted to receive at least one decision of the second entity about the acceptance of at least one of said search results comprising acceptance of an option offered by said first entity; and

f. an event optimizer system receiving data at least pertaining to said acceptance, and in response to the occurrence of at least one event selected from a set of multiple predetermined potential events, executing a corresponding event specific response algorithm;

wherein at least one of the servers or the event optimizer system concurrently optimizes a value for at least two entities and determines how the first party will satisfy the accepted option.

2. A computer-implemented method for concurrent optimization of value in a transaction between at least two entities, comprising:

a. providing a data store containing data representing, with respect to at least one product, at least one option offered by a first of said entities;

b. operating a server with which a second of said entities may interact for at least said option;

c. operating a server to receive inputs for at least said option and to search the data store for eligibility of products for at least said option;

d. displaying the search results;

e. receiving at least one decision of the second entity about the acceptance of at least one of said search results comprising acceptance of an option offered by said first entity; and

f. operating an event optimizer system to receive data at least pertaining to said acceptance, and in response to the occurrence of at least one event selected from a set of multiple predetermined potential events, execute a corresponding event specific response algorithm;

wherein at least one of the servers or the event optimizer system concurrently optimizes a value for at least two entities and determines how the first party will satisfy the accepted option.

3. The method of claim 2 wherein at least one entity includes more than one entity.

4. The method of claim 2 wherein said first entity is a seller of at least said product.

5. The method of claim 2 wherein said first entity is not a seller of said product.

6. The method of claim 2 wherein said second entity is a customer.

7. The method of claim 2 wherein said first entity is an airline.

8. The method of claim 2 wherein said first entity is any entity doing business with an airline.

9. The method of claim 2 wherein said first entity operates at least one of said servers or the system.

10. The method of claim 2 wherein said optimization is performed for at least said first and second entities.

11. The method of claim 2 wherein said optimization is performed for at least one of said entities involved in said transaction and another entity.

12. The method of claim 2 wherein said interaction includes a transaction with respect to at least one product.

13. The method of claim 2 wherein data pertaining to at least one of demand, preferences and associated relative utilities of the second entity is defined, implicitly or explicitly, at least during said interaction.

14. The method of claim 2 wherein data pertaining to at least said first and second entities is integrated by at least one of the servers or the system to concurrently optimize value for at least two entities.

15. The method of claim 2 wherein at least one value option framework is formulated for said option.

16. The method of claim 2 wherein said inputs are received from at least one of said first or second entities.

17. The method of claim 2 wherein said search includes searching for at least one product or option based on said inputs.

18. The method of claim 2 wherein said search identifies results at least after taking into account business economics of at least one entity offering said product or option.

19. The method of claim 2 wherein said search results include at least one option or product.

20. The method of claim 2 wherein said search results include a product which includes an option and for which a price for the inclusion of said option is not separately identifiable within the total product price.

21. The method of claim 2 wherein no payment transaction is executed.

22. The method of claim 2 wherein at least one payment transaction is executed during said transaction.

23. The method of claim 22 wherein said payment transaction includes a non-monetary value.

24. The method of claim 2 wherein said option is related to a product other than the product obtained by the second entity.

25. The method of claim 2 wherein said transaction includes more than one transaction.

26. The method of claim 2 where at least said product is purchased by said second entity before, during or after said transaction.

27. The method of claim 2 wherein said transaction relates to a transaction in the airline industry and said event is related to a flight disruption.

28. The method of claim 2 wherein said transaction relates to a transaction in the airline industry, said option is an option to fly on up to n of m selected flights, and said event optimizer system includes defining each of the n chosen flights, whereby after each of said n flights is defined, said second entity can fly on said chosen flight, where m and n are whole numbers and n is less than m.

29. The method of claim 28 wherein said n chosen flights are defined by an entity other than said second entity.

30. The method of claim 2 wherein said transaction relates to a transaction in the airline industry, said option is a conditional option to get an upgrade whereby imposing a payment obligation on said second entity on occurrence of an event, and said event relates to awarding said upgrade to said second entity.

31. A computer-implemented method for concurrent optimization of value in a transaction between at least two entities, comprising:

a. providing a data store containing data representing, with respect to at least one product, at least one option offered by a first of said entities;

b. operating a server with which a second of said entities may interact for at least said option;

c. operating a server to receive inputs for at least said option and to search the data store for eligibility of products for at least said option;

d. displaying the search results;

e. receiving at least one decision of the second entity about the acceptance of at least one of said search results;

f. operating an event optimizer system to receive data at least pertaining to said acceptance, and in response to the occurrence of at least one event selected from a set of at least one potential events, execute a corresponding event response algorithm;

wherein at least one of the servers or the event optimizer system concurrently optimizes a value for at least two entities, said transaction relates to a transaction in the airline industry, said option is an option to fly on up to n of m selected flights, and operating said event optimizer system includes defining each of the n chosen flights, whereby after each of said n flights is defined, said second entity can fly on said chosen flight, where m and n are whole numbers and n is less than m.

32. The method of claim 31 wherein said n chosen flights are defined by an entity other than said second entity.