Generating a sales volume forecast
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United States of America Patent
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Jan 3, 2012
Grant Date -
Feb 14, 2008
app pub date -
Oct 23, 2007
filing date -
Feb 11, 2002
priority date (Note) -
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status (Latency Note)
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Abstract
A method for generating a sales volume forecast includes receiving user input specifying a hypothetical asking price and a future date and accessing, for each of multiple past time periods, historical data reflecting a sales volume for an item over the past time period and a corresponding price difference between an asking price and a coinciding market price for the item, the price difference also being associated with the past time period. The method also includes determining a historical correlation for the item between sales volume and price difference between asking price and coinciding market price, accessing market data reflecting a future market price for the item associated with the specified future date, determining a price difference between the specified hypothetical asking price and the future market price for the item, applying the determined historical correlation to the determined price difference to generate a sales volume forecast, and providing the generated sales volume forecast for access by a user.
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