Self learning method and system to revenue manage a published price in a retail environment
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United States of America Patent
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app pub date -
Sep 5, 2008
filing date -
Nov 14, 2001
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Abandoned
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Abstract
A computer-based self-learning system for managing a price in a retail environment, including: an interface element for at least one specially programmed general-purpose computer for receiving an input related to initiation of a transaction between a customer and a first business entity; a memory unit for the at least one specially programmed general-purpose computer for storing an artificial intelligence program (AIP) and a history of at least one previous transaction between the customer and the first business entity; and a processor for the at least one specially programmed general-purpose computer for: determining, using the AIP, the input, and the history, a price for the good or service to optimize revenue for the first business entity or profitability of the first business entity. The interface element is for receiving a request for the price, and the processor is for transmitting, using the interface element, the price for display.
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