17933908. RESOLVING POTENTIAL LOSS OF SALES simplified abstract (International Business Machines Corporation)
Contents
- 1 RESOLVING POTENTIAL LOSS OF SALES
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 RESOLVING POTENTIAL LOSS OF SALES - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Potential Commercial Applications
- 1.9 Possible Prior Art
- 1.10 Unanswered Questions
- 1.11 Original Abstract Submitted
RESOLVING POTENTIAL LOSS OF SALES
Organization Name
International Business Machines Corporation
Inventor(s)
Satisha C Honnavalli of Bangalore (IN)
Bharat Sarjerao Khade of Bangalore (IN)
Sai Nikhil Javvaji of Dhone (IN)
Raghuveer Prasad Nagar of Kota (IN)
RESOLVING POTENTIAL LOSS OF SALES - A simplified explanation of the abstract
This abstract first appeared for US patent application 17933908 titled 'RESOLVING POTENTIAL LOSS OF SALES
Simplified Explanation
The computer-implemented method described in the abstract aims to address potential lost sales by determining substitute items for a product based on the reason for the potential lost sale.
- Determining potential lost sale and associated item
- Identifying reason for potential lost sale
- Determining substitute items based on the reason
- Presenting substitute items to the user
Potential Applications
This technology could be applied in e-commerce platforms to help retain customers who might otherwise abandon their purchase due to various reasons.
Problems Solved
This technology helps address the issue of potential lost sales by providing alternative options to customers who are considering not purchasing a specific item.
Benefits
- Increased sales conversion rates - Enhanced customer satisfaction - Improved customer retention
Potential Commercial Applications
Optimizing Product Recommendations for E-commerce Platforms
Possible Prior Art
One possible prior art could be the use of recommendation systems in e-commerce platforms to suggest alternative products to customers based on their browsing and purchase history.
Unanswered Questions
How does the system determine the most suitable substitute items for the potential lost sale?
The abstract does not provide details on the algorithm or methodology used to determine the substitute items.
What metrics are used to measure the effectiveness of the substitute items in preventing lost sales?
The abstract does not mention how the success of the substitute items in retaining customers and preventing lost sales is evaluated.
Original Abstract Submitted
A computer-implemented method for resolving a potential loss of sale, is disclosed. The computer-implemented method includes determining a potential lost sale and an item associated with the potential lost sale. The computer-implemented method further includes determining a reason for the potential lost sale of the item. The computer-implemented method further includes determining one or more substitute items for the item based, at least in part, on the determined reason for the potential lost sale of the item. The computer-implemented method further includes presenting the one or more determined substitute items to a user.
