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Market dynamics

A technology of geographical area and transaction data, applied in the evaluation of market dynamics in a specific geographical area, in the field of computer program products, which can solve problems such as obsolescence

Inactive Publication Date: 2011-09-28
BANK OF AMERICA CORP
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

Furthermore, these known market research techniques provide outdated results

Method used

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Embodiment Construction

[0009] Embodiments of the invention will now be described more fully hereinafter with reference to the accompanying drawings, in which some, but not all embodiments of the invention are shown. Indeed, the invention may be embodied in many different forms and should not be construed as limited to the embodiments set forth herein; rather, these embodiments are provided so that this disclosure will satisfy applicable legal requirements. In the drawings, the same reference numerals denote the same elements.

[0010] Those skilled in the art will recognize that the present invention can be embodied as a method (including a business process), a system, a computer program product, or a combination thereof. Accordingly, the present invention can take the form of an entirely hardware embodiment, an entirely software embodiment (including firmware, resident software, microcode, etc.), or an embodiment combining software and hardware aspects which may be referred to herein as a "system."...

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Abstract

Embodiments of the invention relate to systems, methods, and computer program products for providing a market-dynamics network that assesses social and economic market dynamics in specific geographic regions. For example, the market-dynamics network collects transaction data from a large number of business-merchants across a large number of geographic locations and appends geographic-location identifiers to the collected transaction data. The market-dynamics network then aggregates transaction data in specific geographic regions and, based on the aggregated transaction data, assesses social and economic market dynamics in those geographic regions.

Description

technical field [0001] In general, embodiments of the present invention relate to systems, methods, and computer program products for monitoring market dynamics, and more particularly, systems for collecting and analyzing transactional data and, based on said transactional data, evaluating market dynamics in a particular geographic region, Methods and computer program products. Background technique [0002] Currently, companies spend a lot of resources on market research. For example, to identify spending tendencies in a particular geographic area, companies rely on information obtained from focus groups as well as from telephone, Internet, and face-to-face surveys. Companies consider the information gained from such market research when making risk management decisions and other business decisions, such as whether to expand into new geographic markets. However, in addition to being costly and labor intensive, these known market research methods obtain information from rel...

Claims

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Application Information

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Patent Type & Authority Applications(China)
IPC IPC(8): G06F17/30
CPCG06Q30/0205G06Q30/02
Inventor D·高施K·纽曼D·乔T·J·本德尔
Owner BANK OF AMERICA CORP
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