System for generating an advertising revenue projection
View Patent ↗A method is provided for inventory management which includes an initial step of receiving a customer request for an inventory item and then generating a table or menu of one or more inventory items that most closely correspond to the customer request using a price forecasting system. Based on negotiations concerning price, timing and other typical concerns, an item is selected from the table and a price quotation associated with the selected inventory item is generated using the price forecasting system, which price quotation has been predetermined by a yield management system using a pricing strategy. The customer information associated with the customer request is input into a traffic billing system. Information needed for price recalculation associated with the customer request is input into the yield management system. The yield management system recalculates pricing data with in a manner consistent with a pricing strategy implemented by the yield management system, so that price changes caused by a reduction in available inventory due to the customer request are taken into account, and the pricing data accessed by the price forecasting system when a price quotation is generated is updated prior to repeating the process for a subsequent customer request. This method provides more accurate pricing than known systems where order information must be entered manually before a price recalculation can take place, and the yield management system overestimates the amount of available inventory. If the customer request comprises a reservation having an associated probability of later becoming an order, the reservation is taken into account when recalculating prices based on available inventory. Such a process may be integrated for an enterprise made up of a number of member stations each having associated inventory for sale.
1. A computer implemented system for generating a revenue projection for a plurality of media stations, each of the media stations comprising a separate business entity having inventory comprising advertising time segments available for sale, comprising:
a price forecasting system for selecting an advertising time segment that meets specified customer request criteria;
a yield management system for generating and maintaining inventory pricing information for use by the price forecasting system in accordance with a pricing strategy;
a traffic billing system for generating confirmations of orders for advertising time segments and for maintaining scheduling, processing and accounting information in data files relating to such orders; and
means for generating a revenue projection for some or all media stations based upon orders for advertising time segments recorded in the traffic billing system for each selected media station.
2. The system of claim 1 , wherein each of the media stations comprises a media broadcast station having a geographic location and market area.
3. The system of claim 1 , wherein each media station broadcasts media programing to consumers and sells segments of advertising time associated with the media programming.
4. The system of claim 1 , wherein the price forecasting system further comprises means for accessing the inventory of multiple stations and displaying available time segments from multiple stations that meet customer specified criterion.
5. The system of claim 1 , further comprising a network through which revenue projection data from multiple media stations are obtained by the revenue projection generating means.
6. The system of claim 5 , wherein the computer network comprises the Internet.
7. The system of claim 5 , wherein the computer network comprises a wide area network.
8. A computer implemented system for generating revenue projections for an enterprise comprising a plurality of media broadcast stations, each of the stations comprising a separate business entity and being located at a geographical site with a geographically defined market, each of the stations having inventory comprising advertising time segments available for sale, the system comprising:
a billing system at each station for maintaining scheduling, processing and accounting information in data files relating to orders for advertising time segments;
a system for generating a projection of revenue generated from sales of future advertising time segments for two or more member stations based upon orders for advertising time segments recorded in the billing system for each selected station; and
means for displaying the revenue projections.
9. The computer implemented system of claim 8 wherein each of the station comprises a radio station.
10. The computer implemented system of claim 8 further comprising means for communicating via a computer network to access the billing system of each selected station.
11. A system for generating and displaying revenue projections for sales of advertising time segments associated with future media broadcast programming by a plurality of media broadcast stations, each of the broadcast stations being a separate business entity with a geographical location and market area, each of the broadcast stations being a member of an enterprise group, the system comprising:
means for accessing the billing system of the media broadcast stations from a headquarters location via a computer network;
program logic for predicting revenue from sales of future advertising time segments for some or all member stations based upon orders for advertising time segments recorded in the billing system for each selected station; and
means for visually displaying the revenue projections.