Method for determining dynamic pricing in retail environment e.g. point-of-sale system, involves automatically adjusting product prices in near real time based on predictive models that account for market trends, competitor activity and inventory levels
	PANJWANI A; SAHU J K
	2025-03-11
专利权人	PANJWANI A (PANJ-Individual) ; SAHU J K (SAHU-Individual)
申请日期	2025-03-11
专利号	IN202541022049-A
成果简介	NOVELTY - The method involves collecting real-time data from in-store sensors, online transactions, and customer interaction channels. The collected data is processed using a cloud-based analytics engine equipped with machine learning algorithms. Product prices are automatically adjusted in near real time based on predictive models that account for market trends, competitor activity and inventory levels. A customer insights module is used to segment customers by demographics, purchase history and behavioral data. The customer segmentation data is utilized to tailor targeted promotional offers and personalized marketing strategies, by a retail management system. USE - Method for determining dynamic pricing in retail environment e.g. point-of-sale (POS) system. Uses include but or not limited to inventory management solutions, and customer engagement platforms for managing retail operations that leverage dynamic pricing algorithms and advanced customer insights to enhance retail performance. ADVANTAGE - The method enables providing an intelligent retail management system that employs sophisticated algorithms to automatically adjust prices based on real-time supply and demand, competitor activity, historical sales data, and predictive market trends, thus maximizing revenue and improving customer satisfaction. The method enables allowing a cloud computing environment to offer infrastructure, platforms and software as services for which a cloud consumer does not need to maintain resources on a local computing device. DETAILED DESCRIPTION - INDEPENDENT CLAIMS are included for: (1) a retail management system; and (2) a computer-readable medium for storing a set of instructions for a method for determining dynamic pricing in retail environment. DESCRIPTION OF DRAWING(S) - The drawing shows a flow chart illustrating a method for determining dynamic pricing in retail environment.
IPC 分类号	G06N-020/00 ; G06Q-030/02 ; G06Q-030/0201
国家	印度
专业领域	信息技术
语种	英语
成果类型	专利
文献类型	科技成果
条目标识符	http://119.78.100.226:8889/handle/3KE4DYBR/13575
专题	中国科学院新疆生态与地理研究所
作者单位	1.PANJWANI A (PANJ-Individual) 2.SAHU J K (SAHU-Individual)
推荐引用方式 GB/T 7714	PANJWANI A,SAHU J K. Method for determining dynamic pricing in retail environment e.g. point-of-sale system, involves automatically adjusting product prices in near real time based on predictive models that account for market trends, competitor activity and inventory levels. IN202541022049-A[P]. 2025.

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