International business machines corporation (20240095804). RESOLVING POTENTIAL LOSS OF SALES simplified abstract
Contents
- 1 RESOLVING POTENTIAL LOSS OF SALES
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 20240095804 titled 'RESOLVING POTENTIAL LOSS OF SALES
Simplified Explanation
The computer-implemented method described in the abstract aims to resolve potential lost sales by determining substitute items for a lost sale based on the reason for the potential loss.
- Determining potential lost sale and associated item
- Identifying reason for potential lost sale
- Determining substitute items based on the reason
- Presenting substitute items to user
Potential Applications
This technology could be applied in e-commerce platforms to help customers find alternative products when their desired item is unavailable or out of stock.
Problems Solved
This technology addresses the issue of potential lost sales due to items being unavailable or out of stock, providing users with alternative options to consider.
Benefits
- Increased customer satisfaction by offering substitute items - Potential increase in sales by providing alternative options - Improved user experience by helping customers find similar products easily
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 when their desired item is not available.
What are the potential limitations of this technology?
This technology may face challenges in accurately determining substitute items based on the reason for the potential lost sale. Additionally, user preferences and tastes can vary, making it difficult to predict which substitute items will be well-received.
How does this technology compare to traditional methods of resolving lost sales?
This technology offers a more personalized and data-driven approach to resolving potential lost sales compared to traditional methods, which may rely on generic recommendations or manual intervention. By analyzing the reason for the lost sale and providing tailored substitute items, this technology aims to improve the chances of converting potential lost sales into successful transactions.
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.
