18064685. EFFICIENT GENERATION OF AN EXTRAPOLATED INDICATION ASSOCIATED WITH A SUBSEQUENT EVENT WITHOUT REDUNDANCY simplified abstract (Truist Bank)

EFFICIENT GENERATION OF AN EXTRAPOLATED INDICATION ASSOCIATED WITH A SUBSEQUENT EVENT WITHOUT REDUNDANCY

Organization Name

Truist Bank

Inventor(s)

Jasmeet Singh Bhatia of Glen Allen VA (US)

Daria Hadalski of Fayetteville GA (US)

Dennis W. Yerby of Richmond VA (US)

Peter J. Opachan of Summerfield NC (US)

Joseph Lynn Thompson of Clayton NC (US)

EFFICIENT GENERATION OF AN EXTRAPOLATED INDICATION ASSOCIATED WITH A SUBSEQUENT EVENT WITHOUT REDUNDANCY - A simplified explanation of the abstract

This abstract first appeared for US patent application 18064685 titled 'EFFICIENT GENERATION OF AN EXTRAPOLATED INDICATION ASSOCIATED WITH A SUBSEQUENT EVENT WITHOUT REDUNDANCY

Simplified Explanation: The patent application describes a system that uses statistical algorithms to analyze data related to previous events associated with users, identifying correlations and generating values to improve the accuracy of predicting future events.

• **Key Features and Innovation:**

   - Utilizes a multiple variable statistical algorithm to identify data brackets with correlations to previous events.
   - Uses bivariate analysis to determine variables strongly correlated with previous events.
   - Generates values to separate data ranges based on the strong correlations.
   - Improves the accuracy of predicting subsequent events by utilizing the identified variables and values.

• **Potential Applications:**

   - Predictive analytics in various industries such as finance, marketing, and healthcare.
   - Personalized recommendations for users based on past behaviors.
   - Risk assessment and fraud detection in financial transactions.

• **Problems Solved:**

   - Enhances the accuracy of predicting future events based on past data.
   - Reduces redundancy in extrapolated indications.
   - Improves the fidelity of predictions by focusing on key variables.

• **Benefits:**

   - Increased accuracy in predicting future events.
   - Enhanced decision-making based on data analysis.
   - Improved efficiency in identifying correlations and generating values.

• **Commercial Applications:**

   - "Enhanced Predictive Analytics System for Improved Decision Making in Financial Services"

• **Prior Art:**

   - Further research can be conducted in the field of statistical algorithms and predictive analytics to explore similar technologies.

• **Frequently Updated Research:**

   - Stay updated on advancements in statistical algorithms and predictive analytics to enhance the system's capabilities.

Questions about the Technology: 1. What are the potential limitations of using statistical algorithms in predicting future events accurately? 2. How does the system handle large datasets to ensure efficient data analysis and prediction accuracy?

Original Abstract Submitted

A system with a processor configured to perform steps including receive determination data indicative of previous events associated with users and to identify, utilizing a multiple variable statistical algorithm, data brackets, each having interpolated correlation with indications of the previous events. Further steps include to identify, utilizing bivariate analysis and the data brackets, a determined variable defining a strong interpolated correlation with indications of the previous events and to generate, utilizing bivariate analysis, an associated determined value that separates ranges of data associated with the determined variable based on the strong interpolated correlation within the determination data. Furthermore, the identified determined variable and generated determined value, when utilized to generate an extrapolated indication associated with a subsequent event, rather than input data of a data bracket not indicating the determined variable for the subsequent event, increases the fidelity of the extrapolated indication, reduces redundancy within the extrapolated indication, or both.