TECHNIQUES FOR GENERATING NEW PRICING ALGORITHMS FOR PRODUCTS AND SERVICES
The present disclosure relates to techniques for combining stored pricing algorithms to generate new pricing algorithms. A control panel interface includes selectable options associated with a plurality of pricing algorithms and a plurality of combination techniques. Selections are received that identify at least two pricing algorithms and at least one combination technique. A new pricing algorithm is generated based on the selections. The new pricing algorithm is configured to compute prices for products and services by executing the selected pricing algorithms to generate a set of price outputs, and executing the selected combination technique to compute a price based on the set of price outputs generated by the pricing algorithms.
1 . A system comprising:
one or more processing modules; and
one or more non-transitory storage modules storing computing instructions configured to run on the one or more processing modules and perform acts of:
generating instructions for displaying a control panel interface that includes selectable options associated with a plurality of pricing algorithms and a plurality of combination techniques;
receiving a first set of selections via the control panel interface that identify at least two pricing algorithms from the plurality of pricing algorithms;
receiving a second set of selections via the control panel interface that identify at least one combination technique from the plurality of combination techniques; and
generating a price for the product or service by:
executing each of the at least two pricing algorithms to generate a set of price outputs; and
afterwards, executing the at least one combination technique to compute the price for the product or service, wherein the at least one combination technique utilizes the set of price outputs.
2 . The system of claim 1 , wherein the at least one combination technique utilizes the set of price outputs by receiving the set of price outputs as inputs to a convex function which outputs the price for the product or service.
3 . The system of claim 1 , wherein the selectable options associated with the plurality of combination techniques include selectable options associated with a convex function, a median function, an arithmetic average function, and a mode function.
4 . The system of claim 1 , wherein the control panel interface further includes a parameter section that includes an input form that enables parameters associated with the at least one combination technique to be customized.
5 . The system of claim 4 , wherein the parameter section enables variables associated with the at least one combination technique to be specified by a user.
6 . The system of claim 4 , wherein:
the at least one combination technique identified by the second set of selections identifies two or more combination techniques; and
the parameter section enables a user to specify how the two or more combination techniques process the set of price outputs to generate the price for the product or service.
7 . The system of claim 1 , wherein the at least two pricing algorithms generate the set of price outputs based on a plurality of pricing inputs comprising: a margin requirement, inventory information, a target profit, one or more competitor prices, and a manufacturer suggested retail price.
8 . The system of claim 1 , wherein the control panel interface includes an output section that displays the price and the set of price outputs generated by the at least two pricing algorithms.
9 . The system of claim 1 , wherein the control panel interface includes:
functions for adding additional pricing algorithms to the plurality of pricing algorithms;
functions for removing pricing algorithms from the plurality of pricing algorithms; and
functions for editing the plurality of pricing algorithms.
10 . The system of claim 1 , wherein the control panel interface includes:
functions for adding additional combination techniques to the plurality of combination techniques;
functions for removing combination techniques from the plurality of combination techniques; and
functions for editing the plurality of combination techniques.
11 . A method comprising:
generating instructions for displaying, on a display device, a control panel interface that includes selectable options associated with a plurality of pricing algorithms and a plurality of combination techniques;
receiving a first set of selections via the control panel interface that identify at least two pricing algorithms from the plurality of pricing algorithms;
receiving a second set of selections via the control panel interface that identify at least one combination technique from the plurality of combination techniques;
generating a price for the product or service by:
executing each of the at least two pricing algorithms to generate a set of price outputs; and
afterwards, executing the at least one combination technique to compute the price for the product or service, wherein the at least one combination technique utilizes the set of price outputs.
12 . The method of claim 11 , wherein the at least one combination technique utilizes the set of price outputs by receiving the set of price outputs as inputs to a convex function which outputs the price for the price or service.
13 . The method of claim 11 , wherein the selectable options associated with the plurality of combination techniques include selectable options associated with a convex function, a median function, an arithmetic average function, and a mode function.
14 . The method of claim 11 , wherein the control panel interface further includes a parameter section that includes an input form that enables parameters associated with the at least one combination technique to be customized.
15 . The method of claim 14 , wherein the parameter section enables variables associated with the at least one combination technique to be specified by a user.
16 . The method of claim 14 , wherein:
the at least one combination technique identified by the second set of selections identifies two or more combination techniques; and
the parameter section enables a user to specify how the two or more combination techniques process the set of price outputs to generate the price for the product or service.
17 . The method of claim 11 , wherein the at least two pricing algorithms generate the set of price outputs based on a plurality of pricing inputs comprising: a margin requirement, inventory information, a target profit, one or more competitor prices, and a manufacturer suggested retail price.
18 . The method of claim 11 , wherein the control panel interface includes an output section that displays the price and the set of price outputs generated by the at least two pricing algorithms.
19 . The method of claim 11 , wherein the control panel interface includes:
functions for adding additional pricing algorithms to the plurality of pricing algorithms;
functions for removing pricing algorithms from the plurality of pricing algorithms; and
functions for editing the plurality of pricing algorithms.
20 . The method of claim 11 , wherein the control panel interface includes:
functions for adding additional combination techniques to the plurality of combination techniques;
functions for removing combination techniques from the plurality of combination techniques; and
functions for editing the plurality of combination techniques.