Method and system for prediction of materialization of a group reservation
First Claim
1. A method, using a processing device, for materialization forecasting with respect to group reservations made by a group coordinator for the potential purchase of a particular perishable commodity, comprising the steps of:
- gathering past system-wide reservation information relating to past group reservations for perishable commodities that have already perished, said system-wide reservation information including information unrelated to said particular perishable commodity;
gathering current reservation information relating to a current group reservation for said particular perishable commodity, which current group reservation has not yet perished;
comparing said gathered past reservation information unrelated to said particular perishable commodities and said current reservation information, using said processing device;
calculating, using said processing device, the materialization level of said current group reservation based on said comparison; and
outputting a materialization forecast result for said current group reservation based on said calculated materialization level.
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Abstract
A system and method for predicting the likelihood of materialization of pending group reservations for the purchase of perishable commodities is disclosed. Details pertaining to perishable commodities for which group reservations for purchase have been made in the past are gathered and analyzed, as are details pertaining to perishable commodities for which group reservations for purchase are currently pending. Based upon the analysis, the likelihood that a particular pending reservation will actually be purchased or “materialize” is determined and utilized for yield management.
47 Citations
26 Claims
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1. A method, using a processing device, for materialization forecasting with respect to group reservations made by a group coordinator for the potential purchase of a particular perishable commodity, comprising the steps of:
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gathering past system-wide reservation information relating to past group reservations for perishable commodities that have already perished, said system-wide reservation information including information unrelated to said particular perishable commodity; gathering current reservation information relating to a current group reservation for said particular perishable commodity, which current group reservation has not yet perished; comparing said gathered past reservation information unrelated to said particular perishable commodities and said current reservation information, using said processing device; calculating, using said processing device, the materialization level of said current group reservation based on said comparison; and outputting a materialization forecast result for said current group reservation based on said calculated materialization level. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. Computer-readable code embodied on computer-readable media for conducting materialization forecasting with respect to group reservations made by a group coordinator for the potential purchase of a particular perishable commodity, comprising:
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first subprocesses for gathering past system-wide reservation information relating to past group reservations for perishable commodities that have already perished, said past system-wide reservation information including information unrelated to said particular perishable commodity; second subprocesses for gathering current reservation information relating to a current group reservation for said particular perishable commodity, which current reservation information has not yet perished; third subprocesses for comparing said gathered past reservation information unrelated to said particular perishable commodity and said current reservation information; fourth subprocesses for calculating the materialization level of said current group reservation based on said comparison; and fifth subprocesses for outputting a materialization forecast result for said current group reservation based on said calculated materialization level. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
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Specification