18748962. METHOD, APPARATUS, AND COMPUTER PROGRAM PRODUCT FOR DETERMINING CLOSING METRICS (ByteDance Inc.)

METHOD, APPARATUS, AND COMPUTER PROGRAM PRODUCT FOR DETERMINING CLOSING METRICS

Organization Name

ByteDance Inc.

Inventor(s)

Brian Mullins of Chicago IL (US)

Matt Deland of San Francisco CA (US)

Zahra Ferdowsi of Chicago IL (US)

Stephen Lang of Chicago IL (US)

John Stokvis of Chicago IL (US)

Nolan Finn of Chicago IL (US)

Shafiq Shariff of Chicago IL (US)

METHOD, APPARATUS, AND COMPUTER PROGRAM PRODUCT FOR DETERMINING CLOSING METRICS

This abstract first appeared for US patent application 18748962 titled 'METHOD, APPARATUS, AND COMPUTER PROGRAM PRODUCT FOR DETERMINING CLOSING METRICS

Original Abstract Submitted

A method, apparatus and computer program product are provided for calculating closing metrics regarding a contract between a promotion service and provider. A promotional system may calculate a probability of closing, and an estimated time to close. The promotion service may offer a promotion to consumers for a discounted product or service, to be honored by the provider. A category, lead source, historical data, stage in sales, and/or size of the provider may be used in calculating a probability of close and/or time to close. An example method may comprise supplying a classifying model with a dataset, wherein the dataset comprises an identification of a provider and attributes corresponding to the provider and identifying a class of the provider in accordance with the plurality of corresponding attributes, wherein the identification is determined based on one or more patterns determinative of a return rate by the classifying model.