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:
Oct. 20, 2015
Filed:
Apr. 25, 2009
Jonathan Dickinson, Grove City, PA (US);
Paritosh Desai, Santa Clara, CA (US);
Jonathan Dickinson, Grove City, PA (US);
Paritosh Desai, Santa Clara, CA (US);
International Business Machines Corporation, Armonk, NY (US);
Abstract
The present invention relates to a system and method for customer retention. Historical transaction and customer data may be received from stores. Likewise, recent customer transaction data may be received from the stores. The transactions are linked to each customer. Attriters, historical customers who discontinued shopping, are identified. Next, risk factors for attrition may be identified by examining the attriters' transaction history for commonalities. From the risk factors a loss model may be generated. The loss model may be used, in conjunction with current transaction data, to generate the likelihood of loss for each of the current customers, which may then be reported. Retention measures may be generated for each customer by comparing the customer's transactions to the loss model and the risk factors. The retention measures may be outputted to the stores, and a price optimization system. Likewise, the retention measures may be validated by comparing actual customer loss to the loss model.