System and method for identifying and presenting business-to-business sales opportunities
First Claim
1. A computer-implemented method hosted on a server for identifying product cross sell opportunities for a target customer to be presented to a business, comprising carrying out the steps of the method by computer-executable instructions being executed by the server with at least a computer processor and a memory, comprising the computer-implemented steps of:
- downloading target customer data attributes and target product data for a target customer stored in memory into the server;
downloading target customer sales transaction data comprising historical sales transactions for the target customer stored in the memory for one or more products into the server;
downloading customer data stored in the memory for a group of core customers into the server wherein the customer data is selected from the group consisting of core customer data attributes, core customer product data, core customer product affinity data and core customer sales transaction data;
computing a clustered customer group with a clustering algorithm by grouping together customers from the group of core customers that have similar product purchase patterns to form a clustered customer group and correlating spending by product for core customers within the clustered customer group;
computing a benchmark spending model by product for the core customers within the clustered customer group to determine a clustered customer group product purchase pattern profile;
downloading non-core customer data stored in the memory for a group of non-core customers into the server wherein the non-core customer data is selected from the group consisting of non-core customer data attributes, non-core customer product data and non-core customer sales transaction data;
computing a non-core customer spending model by product for a non-core customer using the non-core customer data downloaded into the server to determine a non-core customer product purchase pattern profile;
normalizing the non-core customer product purchase pattern profile by computing an expected non-core customer product spending based on the clustered customer group product purchase pattern profile, and adding the normalized non-core customer product purchase pattern profile to the clustered customer group product purchase pattern profile;
determining the differences between the clustered customer group product purchase pattern profile and the target customer sales transaction data to generate product cross-sell opportunities for the target customer; and
presenting the product cross-sell opportunities for the target customer to the business.
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Accused Products
Abstract
The present invention relates to a system and method for efficiently identifying the sales opportunities in a business-to-business market environment. It provides a computer-implemented predictive sales intelligence system and method for identifying sales opportunities. The present invention is a computer implemented system and method for efficiently identifying reliable purchase pattern profiles through scientific analysis of customer data. It includes a system and method for calculating a customer'"'"'s purchase profile, clustering customers based on similarity of their purchase profile, and efficiently providing a reliable set of opportunities including lost sales (retention) and cross-selling (wallet share expansion) opportunities. It uses this reliable estimate of sales opportunities to retain and expand wallet share for customers.
15 Citations
20 Claims
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1. A computer-implemented method hosted on a server for identifying product cross sell opportunities for a target customer to be presented to a business, comprising carrying out the steps of the method by computer-executable instructions being executed by the server with at least a computer processor and a memory, comprising the computer-implemented steps of:
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downloading target customer data attributes and target product data for a target customer stored in memory into the server; downloading target customer sales transaction data comprising historical sales transactions for the target customer stored in the memory for one or more products into the server; downloading customer data stored in the memory for a group of core customers into the server wherein the customer data is selected from the group consisting of core customer data attributes, core customer product data, core customer product affinity data and core customer sales transaction data; computing a clustered customer group with a clustering algorithm by grouping together customers from the group of core customers that have similar product purchase patterns to form a clustered customer group and correlating spending by product for core customers within the clustered customer group; computing a benchmark spending model by product for the core customers within the clustered customer group to determine a clustered customer group product purchase pattern profile; downloading non-core customer data stored in the memory for a group of non-core customers into the server wherein the non-core customer data is selected from the group consisting of non-core customer data attributes, non-core customer product data and non-core customer sales transaction data; computing a non-core customer spending model by product for a non-core customer using the non-core customer data downloaded into the server to determine a non-core customer product purchase pattern profile; normalizing the non-core customer product purchase pattern profile by computing an expected non-core customer product spending based on the clustered customer group product purchase pattern profile, and adding the normalized non-core customer product purchase pattern profile to the clustered customer group product purchase pattern profile; determining the differences between the clustered customer group product purchase pattern profile and the target customer sales transaction data to generate product cross-sell opportunities for the target customer; and presenting the product cross-sell opportunities for the target customer to the business. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A computer system comprising:
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a processor; a memory coupled to the processor; a display device; wherein the memory stores a program, that identifies product cross sell opportunities for a target customer to be presented to a business, when executed by the processor causes the processor to; download target customer data attributes and target product data for a target customer stored in memory; download target customer sales transaction data comprising historical sales transactions stored in memory for one or more products; download customer data stored in memory for a group of core customers wherein the customer data is selected from the group consisting of core customer data attributes, core customer product data, core customer product affinity data and core customer sales transaction data; compute a clustered customer group by grouping together customers from the group of core customers that have similar customer product purchase patterns; compute a benchmark spending model by product for the core customers within the clustered customer group to determine a clustered customer group purchase pattern profile; download non-core customer data stored in memory for a group of non-core customers wherein the non-core customer data is selected from the group consisting of non-core customer data attributes, non-core customer product data and non-core customer sales transaction data; compute a spending model by product for a non-core customer to determine a non-core customer product purchase pattern profile based on non-core customer data; normalize the non-core customer product purchase pattern profile by computing an expected non-core customer product spending based on the clustered customer group purchase pattern profile and adding the normalized non-core product purchase pattern profile to the clustered customer group purchase pattern profile; determine the differences between the clustered customer product purchase pattern profile and the target customer sales transaction data to compute cross sell opportunities for the target customer; and present product cross-sell opportunities for the target customer to the business. - View Dependent Claims (18, 19)
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20. A computer system comprising:
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a server with a computer processor; a memory coupled to the computer processor; a display device; wherein the memory stores a program, that identifies product cross sell opportunities for a target customer to be presented to a business, that when executed by the processor causes the processor to; download target customer data attributes and target product data for a target customer stored in memory into the server; download target customer sales transaction data comprising historical sales transactions for the target customer stored in the memory for one or more products into the server; download customer data stored in the memory for a group of core customers into the server wherein the customer data is selected from the group consisting of core customer data attributes, core customer product data, core customer product affinity data and core customer sales transaction data; group together customers from the group of core customers that have similar product purchase patterns to form a clustered customer group and correlating spending by product for core customers within the clustered customer group; compute a benchmark spending model by product for the core customers within the clustered customer group to determine a clustered customer group product purchase pattern profile; download non-core customer data stored in the memory for a group of non-core customers into the server wherein the non-core customer data is selected from the group consisting of non-core customer data attributes, non-core customer product data and non-core customer sales transaction data; compute a non-core customer spending model by product for a non-core customer using the non-core customer data downloaded into the server to determine a non-core customer product purchase pattern profile; normalize the non-core customer product purchase pattern profile by computing an expected non-core customer product spending based on the clustered customer group product purchase pattern profile, and adding the normalized non-core customer product purchase pattern profile to the clustered customer group purchase pattern profile; and determine the differences between the clustered customer group product purchase pattern profile and the target customer sales transaction data to generate product cross sell opportunities for the target customer.
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Specification