Compensation data prediction
First Claim
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1. A method of predicting compensation data, the method comprising:
- obtaining compensation data, associated with a job category, with at least one datum being associated with each of a plurality of characteristics associated with the job category;
determining values of factors, associated with respective ones of the characteristics, and a base value that when used as operands of a function yield estimates of the obtained data such that relationships between the estimates and corresponding obtained compensation data satisfy at least one criterion;
using a portion of the values of factors and the base value by a computer to automatically obtain estimates of compensation data;
deriving reference data using the obtained compensation data and the values of factors;
aggregating the reference data to determine the base value;
comparing estimated compensation data with obtained compensation data of the same job and having the same associated characteristics as the estimated compensation data;
adjusting the values of the factors as appropriate depending upon results of comparing the estimated and obtained compensation data; and
repeating the deriving, aggregating, using, comparing, and adjusting until comparing the estimated and obtained compensation data satisfy the at least one criterion.
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Abstract
A method of predicting compensation data includes obtaining compensation data, associated with a job category, with at least one datum being associated with each of a plurality of characteristics associated with the job category, determining values of factors, associated with respective ones of the characteristics, and a base value that when used as operands of a function yield estimates of the obtained data such that relationships between the estimates and corresponding obtained compensation data satisfy at least one criterion, and using a portion of the values of factors and the base value by a computer to automatically obtain estimates of compensation data.
31 Citations
17 Claims
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1. A method of predicting compensation data, the method comprising:
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obtaining compensation data, associated with a job category, with at least one datum being associated with each of a plurality of characteristics associated with the job category; determining values of factors, associated with respective ones of the characteristics, and a base value that when used as operands of a function yield estimates of the obtained data such that relationships between the estimates and corresponding obtained compensation data satisfy at least one criterion; using a portion of the values of factors and the base value by a computer to automatically obtain estimates of compensation data; deriving reference data using the obtained compensation data and the values of factors; aggregating the reference data to determine the base value; comparing estimated compensation data with obtained compensation data of the same job and having the same associated characteristics as the estimated compensation data; adjusting the values of the factors as appropriate depending upon results of comparing the estimated and obtained compensation data; and repeating the deriving, aggregating, using, comparing, and adjusting until comparing the estimated and obtained compensation data satisfy the at least one criterion. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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Specification