Method and system for dynamic pricing
First Claim
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1. A non-transitory computer-readable medium having instructions stored thereon that, when executed by a processor, cause the processor to perform dynamic pricing of at least one item of an order, the performing comprising:
- providing a pricing engine configured to make modifications to a price to be paid by a customer;
providing price environment input comprising customer information, order information, item information, and conditional rules, wherein the conditional rules comprise a condition that must be satisfied for the at least one item to qualify for a discount and a target upon which to apply the discount, and wherein the target is defined based upon metadata about the at least one item;
extracting the conditional rules from the price environment and storing the conditional rules in a database;
initially determining the price for the at least one item that is not conditional;
determining that the at least one item is part of the target of the extracted conditional rules based upon the metadata about the at least one item;
modifying the price for the at least one item based upon the extracted conditional rules;
modifying the price for the at least one item based upon at least one pricing algorithm; and
providing a price information output comprising the price of the order and the price calculation history for all individual items in the order, the price calculation history including the calculations made and conditional rules used to calculate the price of an item.
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Abstract
A computer system and method for dynamic pricing is described. The system includes at least one dynamic calculator, which performs calculations based upon conditional rules.
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Citations
11 Claims
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1. A non-transitory computer-readable medium having instructions stored thereon that, when executed by a processor, cause the processor to perform dynamic pricing of at least one item of an order, the performing comprising:
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providing a pricing engine configured to make modifications to a price to be paid by a customer; providing price environment input comprising customer information, order information, item information, and conditional rules, wherein the conditional rules comprise a condition that must be satisfied for the at least one item to qualify for a discount and a target upon which to apply the discount, and wherein the target is defined based upon metadata about the at least one item; extracting the conditional rules from the price environment and storing the conditional rules in a database; initially determining the price for the at least one item that is not conditional; determining that the at least one item is part of the target of the extracted conditional rules based upon the metadata about the at least one item; modifying the price for the at least one item based upon the extracted conditional rules; modifying the price for the at least one item based upon at least one pricing algorithm; and providing a price information output comprising the price of the order and the price calculation history for all individual items in the order, the price calculation history including the calculations made and conditional rules used to calculate the price of an item. - View Dependent Claims (2, 3, 4, 5)
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6. A computer implemented method for dynamic pricing of at least one item of an order, the computer implemented method comprising:
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providing a pricing engine for calculating a price to be paid by a customer; providing a price environment input to the pricing engine comprising customer information, order information item information, and conditional rules, wherein the conditional rules comprise a condition that must be satisfied for the at least one item to qualify for a discount and a target upon which to apply the discount, and wherein the target is defined based upon metadata about the at least one item; extracting the conditional rules from the price environment and storing the conditional rules in a database on a computer; statically calculating, by the computer, the price for the at least one item; determining that the at least one item is part of the target of the extracted conditional rules based upon the metadata about the at least one item; dynamically calculating, by the computer, the price for the at least one item based upon the extracted conditional rules, wherein the conditional rules are transformed into an executable rule to run on the computer; statically calculating, by the computer, the price for the at least one item based upon at least one pricing algorithm; and providing a price information output from the pricing engine comprising the price of the order and the price calculation history for all individual items in the order, the price calculation history including the calculations made and conditional rules used to calculate the price of an item. - View Dependent Claims (7, 8)
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9. A computer system for dynamic pricing of at least one item of an order comprising:
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a non-transitory computer-readable medium; a pricing engine for making modifications to a price to be paid by a customer; a price environment input to the pricing engine comprising customer information, order information, item information, and conditional rules, wherein the conditional rules comprise a condition that must be satisfied for the at least one item to qualify for a discount and a target upon which to apply the discount, and wherein the target is defined based upon metadata about the at least one item; a qualifier for extracting the conditional rules from the price environment and storing the conditional rules in a database; at least one first static calculator for initially determining the price for the at least one item that is not conditional; at least one dynamic calculator for determining that the at least one item is part of the target of the extracted conditional rules based upon the metadata about the at least one item, and modifying the price for the at least one item based upon the extracted conditional rules; at least one second static calculator for modifying the price for the at least one item based upon at least one pricing algorithm; and a price information output from the pricing engine comprising the price of the order and the price calculation history for all individual items in the order, the price calculation history including the calculations made and conditional rules used to calculate the price of an item. - View Dependent Claims (10, 11)
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Specification