Invention Grant
- Patent Title: Method to optimize revenue using a bid reservation system
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Application No.: US16017577Application Date: 2018-06-25
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Publication No.: US10825084B1Publication Date: 2020-11-03
- Inventor: Sean Fitzgerald , Martin Dougherty , Brendan Fitzgerald
- Applicant: GolfLine, Inc.
- Agency: Wolter Van Dyke & Davis
- Main IPC: G06Q30/00
- IPC: G06Q30/00 ; G06Q30/08 ; G06Q10/02 ; G06N20/00

Abstract:
A method for evaluating bids for the purchase of inventory items to optimize bid-generated revenue. The method comprises receiving a bid for an inventory item, the bid comprising a bid price, a specific inventory item that is to be purchased, and a number of inventory items to be purchased. The bid is input into a machine learning algorithm as are features associated with the inventory item and information associated with the bid. The machine learning algorithm analyzes the bid and generates an output to accept or decline the bid. Responsive to that output the bidder is advised whether the bid was accepted or declined.
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