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System and Method of Identifying and Responding to Saving on Purchased Items using Cognitive Analysis

IP.com Disclosure Number: IPCOM000249299D
Publication Date: 2017-Feb-15
Document File: 4 page(s) / 31K

Publishing Venue

The IP.com Prior Art Database

Abstract

Disclosed are a system and method for using cognitive analysis to help a user evaluate purchases and identify opportunities for additional cost savings. The system detects relevant products or services purchased by a user, validates the content for potential savings, calculates the net savings using predicted work and time required, determines the buyer’s degree of interest, and then presents a list of options and recommended actions that lead the user to cost savings.

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System and Method of Identifying and Responding to Saving on Purchased Items using Cognitive Analysis

Many times, a buyer purchases a product or service unaware that better pricing or value is available, at the time of purchase or soon after, and thus misses a savings opportunity. It is extremely challenging for a buyer to keep track of all the purchased items, search for potential savings after the purchase, evaluate the savings, and then go through all the refund/exchange and repurchasing steps in order to achieve the cost savings.

A cognitive and automated solution is needed to help a user identify potential savings, perform the cost-benefit analysis, and then recommend options and steps if the user wishes to pursue the saving opportunity.

The novel contribution is a system and method for using cognitive analysis to help a user evaluate purchases and identify opportunities for additional cost savings. The system detects relevant products or services purchased by a user, validates the content for potential savings, calculates the net savings using predicted work and time required, determines the buyer’s degree of interest, and then presents a list of options and recommended actions. Further, the system can automatically trigger actions based on detected user behaviors and known preferences.

The components and process for implementing this solution for finding cost savings through cognitive analysis follow:

1. Identify conversational content, active or past (e.g., chat, text message, email, phone, voice mail, social media posts, etc.)

2. Store conversational content in a database 3. Use a cognitive computing component to apply cognitive analysis of the stored

conversational content. The cognitive analysis comprises: A. Reviewing detectable purchase details within the conversational context

(e.g., image, product link, quick reference (QR) code, text description, etc.) to identify purchased items, products, or services for the original buyer (user1)

B. Determining if the same or a similar product was presented to another user involved in the same conversation (userN):

i. detect contextual awareness via cognitive analysis ii. correlate and cross-match determined item in other content by

userN 4. Create awareness of potential savings via allowable response actions settings for

the user (e.g., visual, audio, or sensory) A. UserN may not have purchased the item, or has little interest, but will be

made aware B. Could be a general marker; not reveal user1 due to privacy

5. Determine relationship and trustworthiness of userN to user1 A. Review previously engaged conversation context, public or posted data,

from past conversations about the purchase or return/exchange of an item

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B. Determine whether userN is within user1’s inner circle, skilled in saving, or expert on the purchased item

C. Determine whether users were recently engaged in conversation at a more personal level or about a more sensitive topic

6. Determine if purchased item has poten...