SYSTEM AND METHOD FOR PREDICTIVE BOOKING OF RESERVATIONS BASED ON HISTORICAL AGGREGATION AND EVENTS

• US 20080091478A1
• Filed: 10/16/2006
• Published: 04/17/2008
• Est. Priority Date: 10/16/2006
• Status: Active Grant

• Current Assignee: Deem, Incorporated (Jack Taylor Family Voting Trust U A D 4 14 99)
• Original Assignee: Rearden Commerce Inc
• Inventors: MESSA, Suzette
• Granted Patent: US 7,765,119 B2
• Time in Patent Office: Days
• US Class Current: 705/5
• CPC Class Codes: G06Q 10/02 Reservations, e.g. for tickets, services or events
• CPC Class Codes: G06Q 10/04 Forecasting or optimisation specially adapted for administrative or management purposes, e.g. linear programming or "cutting stock problem" market predictions or forecasting for commercial activities G06Q30/0202

Abstract

In one embodiment, a method that can be performed on a system, is provided for predictive booking or reservations based on historical aggregation and events. In one embodiment, the method comprises surveying prices paid for traveler purchases or reservations to identify price increases for travel purchases or reservations, wherein the price increases include a increase in a price of a travel purchase during an identified period of time; identifying a correlation between identified price increases for travel purchases or reservations and identified events; predicting of future price increases in select travel bookings based on the identified correlation between the identified price increases for travel purchases or reservations and identified events; and determining whether to purchase or reserve a set of travel bookings based on the predicting of the future price increases.

Claims

1. ) A method comprising:

Surveying prices paid for traveler purchases or reservations to identify price increases for travel purchases or reservations, wherein the price increases include a increase in a price of a travel purchase during an identified period of time;

Identifying a correlation between identified price increases for travel purchases or reservations and identified events;

predicting of future price increases in select travel bookings based on the identified correlation between the identified price increases for travel purchases or reservations and identified events; and

determining whether to purchase or reserve a set of travel bookings based on the predicting of the future price increases.

2. ) The method of claim 1, further comprising identifying a quantity of selected travel bookings to be purchases or reserved, the identifying of the quantity based on the identified correlation between the price increases and identified events.

3. ) The method of claim 1, wherein the identified period of time is at least one of daily, weekly, monthly, and yearly.

4. ) The method of claim 1, wherein the surveying prices includes surveying for past and future travel purchases or reservations.

5. ) The method of claim 4, wherein the determining whether to purchase or reserve a set of travel bookings based on the predicting of the future price increases, is performed automatically.

6. ) The method of claim 4, wherein the determining whether to purchase or reserve a set of travel bookings based on the predicting of the future price increases, is performed by a person.

7. ) The method of claim 4, wherein the identified events are at least one of an internal event and a external event.

8. ) The method of claim 7, wherein the internal event comprises a company event.

9. ) The method of claim 7, wherein the external event comprises one or more of a sporting event, a holiday, trade shows, and exhibits.

10. ) The method of claim 7, wherein the travel bookings include at least one of an airline flight, auto rental, and hotel room.

11. ) A machine readable medium having stored thereon a set of instructions which when executed perform a method comprising:

Surveying prices paid for traveler purchases or reservations to identify price increases for travel purchases or reservations, wherein the price increases include a increase in a price of a travel purchase during an identified period of time;

Identifying a correlation between identified price increases for travel purchases or reservations and identified events;

predicting of future price increases in select travel bookings based on the identified correlation between the identified price increases for travel purchases or reservations and identified events; and

determining whether to purchase or reserve a set of travel bookings based on the predicting of the future price increases.

12. ) The machine readable medium of claim 11, further comprising identifying a quantity of selected travel bookings to be purchases or reserved, the identifying of the quantity based on the identified correlation between the price increases and identified events.

13. ) The machine readable medium of claim 11, wherein the identified period of time is at least one of daily, weekly, monthly, and yearly.

14. ) The machine readable medium of claim 11, wherein the surveying prices includes surveying for past and future travel purchases or reservations.

15. ) The machine readable medium of claim 14, wherein the determining whether to purchase or reserve a set of travel bookings based on the predicting of the future price increases, is performed automatically.

16. ) The machine readable medium of claim 14, wherein the determining whether to purchase or reserve a set of travel bookings based on the predicting of the future price increases, is performed by a person.

17. ) The machine readable medium of claim 14, wherein the identified events are at least one of an internal event and a external event.

18. ) The machine readable medium of claim 17, wherein the internal event comprises a company event.

19. ) The machine readable medium of claim 17, wherein the external event comprises one or more of a sporting event, a holiday, trade shows, and exhibits.

20. ) The machine readable medium of claim 17, wherein the travel bookings include at least one of an airline flight, auto rental, and hotel room.