Better Data Collection for Better Purchase Decisions. ICAP Patent Brokerage Announces for Auction a Patented Method of Data Collection that Features Improved Collaborative Filtering for More Relevant and Effective Product and Service Recommendations
SAN FRANCISCO, June 7, 2012 /PRNewswire/ -- ICAP Patent Brokerage, a division of ICAP plc and the world's largest intellectual property brokerage firm and organizer of ICAP Ocean Tomo Auctions, is offering for auction a patented method of data collection that features improved collaborative filtering for more relevant and effective product and service recommendations. The lot will be included in the 16th ICAP Ocean Tomo IP Auction on July 26th, at the Julia Morgan Ballroom in San Francisco, California.
Key Characteristics & Benefits
This patent portfolio discloses a method that improves upon product and service recommendation methodology by incorporating additional relevant attributes into the recommendation decision.
- Each product or service can be described through a collection of attributes. Improved collaborative filtering collects additional information of consumer preferences on these attributes.
- This system can then develop more relevant and actionable recommendations for individual consumers. By collecting the user's preferences for these attributes, and utilizing them in generating recommendations, the relevancy of the recommendations can be improved.
- This can both drive additional sales and facilitate better consumer purchase decisions.
- As an example, traditional collaborative filtering would recommend a restaurant based on their ratings and/or past transactions at other restaurants and/or ratings/transactions of other users. Although this recommendation may be relevant, it potentially misses important attributes that might be the driving factor for the individual consumer (e.g., vegetarian menu, outdoor seating, family-friendly atmosphere).
This is an important patent portfolio for companies involved in ecommerce and online marketing, or other services that rely on collaborative filtering for generating product recommendations.
To learn more about the assets available for sale in this portfolio:
Contact Dean Becker of ICAP Patent Brokerage at 561-309-0011 or Dean.Becker@us.icap.com
About ICAP Patent Brokerage
ICAP Patent Brokerage is a division of ICAP plc and the world's largest intellectual property brokerage and patent auction firm.
ICAP is the world's leading interdealer broker and provider of post trade risk and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through our post trade risk and information services we help our customers manage and mitigate risks in their portfolios. For more information go to www.icap.com.
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