18457531. DETERMINING A CHANGE TO PRODUCT INFORMATION OR USER INFORMATION VIA HASHING simplified abstract (Capital One Services, LLC)

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DETERMINING A CHANGE TO PRODUCT INFORMATION OR USER INFORMATION VIA HASHING

Organization Name

Capital One Services, LLC

Inventor(s)

Qiaochu Tang of Frisco TX (US)

Micah Price of The Colony TX (US)

Stephen Wylie of Carrollton TX (US)

Geoffrey Dagley of McKinney TX (US)

Jason Hoover of Grapevine TX (US)

DETERMINING A CHANGE TO PRODUCT INFORMATION OR USER INFORMATION VIA HASHING - A simplified explanation of the abstract

This abstract first appeared for US patent application 18457531 titled 'DETERMINING A CHANGE TO PRODUCT INFORMATION OR USER INFORMATION VIA HASHING

Simplified Explanation

The abstract describes a device that determines the price of a product based on its attributes and provides the price for display on a user device. The device generates hash values and bit-strings to represent the attributes of the product and determines changes in the attributes to adjust the price accordingly.

  • The device determines the price of a product based on its attributes.
  • It generates hash values and bit-strings to represent the attributes.
  • Changes in the attributes are determined by comparing the generated bit-strings.
  • The device adjusts the price of the product based on the changes in attributes.
  • The new price is provided for display on a user device.

Potential Applications

  • E-commerce platforms can use this technology to dynamically adjust prices based on changes in product attributes.
  • Retailers can utilize this technology to offer personalized pricing based on individual customer preferences.
  • Pricing optimization algorithms can incorporate this technology to automatically adjust prices based on market conditions and competitor prices.

Problems Solved

  • This technology solves the problem of manually determining and adjusting prices based on product attributes.
  • It eliminates the need for constant monitoring and manual price adjustments by automating the process.
  • It allows for real-time price adjustments based on changes in product attributes.

Benefits

  • The device provides an efficient and automated way to determine and adjust prices based on product attributes.
  • It enables dynamic pricing strategies that can respond to market conditions and customer preferences.
  • The technology streamlines the pricing process, saving time and resources for businesses.


Original Abstract Submitted

A device may determine a price of a product based on first information concerning attributes of the product, and provide the price for display by a user device. The device may generate first hash values based on the first information, where a particular first hash value is associated with a particular attribute, and generate a first bit-string that includes the plurality of first hash values. The device may generate second hash values based on second information concerning the attributes of the product, where a particular second hash value is associated with the particular attribute. The device may generate a second bit-string that includes the second hash values, and determine a change to the particular attribute based on the first bit-string and the second bit-string. The device may determine a new price of the product based on the change, and provide the new price for display by the user device.

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