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Model Based Price Estimator for Expediting Sales of Cloud Solutions (Competitive Price Differentiator)

IP.com Disclosure Number: IPCOM000248602D
Publication Date: 2016-Dec-21
Document File: 2 page(s) / 200K

Publishing Venue

The IP.com Prior Art Database

Abstract

Disclosed is a price-estimator method that directs customers to a cloud model with built-in analytics that meets the organization’s enterprise requirements and provides a budget estimate. Furthermore, the disclosed method provides estimation models by volume of requests and requirements using cognitive analytics.

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This is the abbreviated version, containing approximately 52% of the total text.

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Model Based Price Estimator for Expediting Sales of Cloud Solutions (Competitive Price Differentiator)

Currently there is no method to size the cost/budget for Cloud Services for budget planning. No method is available for generating a rough order of magnitude for pricing a cloud solution (e.g., Internet of Things (IOT), analytics, mobile, Big Data, cloud, etc.) for the internal sales force and external clients. Customers know the existing business problem, but are unaware of the capacity and cloud services needed to consume services to meet current business objectives. In addition, sales teams and customers do not have use cases or any tool available to customize cloud services for budget planning.

The novel contribution is a method that directs customers to a cloud model with built-in analytics that meets the organization’s enterprise requirements and provides a budget estimate. Furthermore, the disclosed method provides estimation models by volume of requests and requirements using cognitive analytics. The disclosed method also takes into consideration the allowable discounts while being cognizant of margins and maintains competitive pricing to generate a quote.

Optimization is built in as the models learn the configuration and costs. Margins are built in based on how low users can go on this configuration with knowledge of internal component costs.

The model-based pricing methodology uses analytics to compare/match customer requirements to a developed set of price models, allowing quick pricing quotes and competitive analysis to shorten the sales cycle. A company may have multiple service offerings. This tool continuously learns the client needs and customizes the sol...