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Method and apparatus for judicious fare calculation for a city taxi service

IP.com Disclosure Number: IPCOM000235882D
Publication Date: 2014-Mar-28
Document File: 7 page(s) / 120K

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Abstract

City cab fare calculation can be more transparent and fare using scientific rationale. Fare for trip should computed based on distance, location, time of the day, city congestion . Self learning can be employed to improve fare calculation model.

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Method and apparatus for judicious fare calculation for a city taxi service

1.0 Background

India is one of the fastest growing economy in the world. After opening of the economy, numerous opportunities have emerged which were non existent before. It is primary due to following factors


● Rapid industrialization and reduced dependence on agriculture.


● Rapid urbanization and increase in consumerism.


● Improved transparency in governance.


● Rise of services and private sector.


● Growth of new opportunities due to global delivery model.

Due to overall growth of economy, some existing business too saw transformation. One such area is logistics. With integration of Indian economy with rest of the world, investment towards infrastructure became inevitable. This is not only to remain a competitive investment destination by reducing operation cost but also to keep up with rest of the world in general. As a result of investment in infrastructure, new International Airports came up. These airports catalyzed the growth of taxi services. As business potential increased, this once highly unorganized sector is seeing rapid organization in tier 1 and tier 2 cities across India. This has vastly improved the quality of service, reliability and comfort level of customer. Scenario can be better understood by considering example of a specific city say Bangalore.

Bangalore has seen rise of 3 type of taxi services


● Organized Full service class


● Organized Economy class


● Unorganized class

In past few years, there is an exponential growth in number of companies providing services in any of the three class. This has given customer enough choices. But different companies in same category are finding it hard to differentiate themselves with peer companies. Most companies have same business model, same type of vehicle and same set of problems.

There is a big opportunity to innovate and devise technologies and business models to improve profitability at the same time differentiation with peer services.

Also, as a city administrator as the sector continues to employ more and more people, it becomes important to assure that drivers get fair compensation for their efforts and customers get adequate value for money.

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2.0 Need for the idea

India despite being one of the fastest growing economies in the world, continues to be a developing country. Lower per capita income in general and wide income disparity makes it a very price sensitive market. So, any effort that rationally justifies cost for service can go a long way in preventing exploitation from either side. Also, most of the driver don't own the vehicle. Any method that can scientifically evaluate and quantify the efforts in delivering services can help them legally earn better remuneration. This increased recognition of effort shall reduce tendency to be dishonest for minor gains.

3.0 Idea

Intent of this idea is to come up with a more scientific way to determine fare of taxi...