The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Nov. 03, 2026
Filed:
Nov. 17, 2023
Tata Consultancy Services Limited, Mumbai, IN;
Srividhya Sethuraman, Chennai, IN;
Uma Maheswari Govindaraju, Chennai, IN;
Sharadha Ramanan, Chennai, IN;
Tata Consultancy Services Limited, Mumbai, IN;
Abstract
In retail industry, retailers need accurate price elasticity (PE) values to offer optimal prices for products to business constraints. Existing approaches provide approximate PE values leading to suboptimal price recommendations. This disclosure relates to method of computing PE values for optimal pricing based on sequential price elasticity computation is provided. Transaction data and attribute data of products are processed to obtain preprocessed data. One or more selected models are determined based on the preprocessed data. Priors at one or more levels are computed and likelihoods are computed based on one or more monetary objectives from historical transaction data of the products. One or more parameters of one or more price elasticity distributions are iteratively determined through one or more component approaches based on the priors and the likelihoods. The PE values are derived based on ensemble techniques applied to one or more parameters of the one or more PE distributions.
Data source: USPTO (United States Patent and Trademark Office) public patent records. Weekly synchronization. How IDiyas builds this profile