Method, apparatus, and computer program product for forecasting demand using real time demand
Provided herein are systems, methods and computer readable media for managing a sales pipeline, and in some embodiments, generating demand based on real time demand and predicted demand. An example method comprises generating a virtual promotion, wherein the virtual promotion comprises a combination of a category or sub-category, a location, and a price range, calculating a probability that a particular consumer would buy the virtual offer in a predetermined time period, wherein the probability is generated at least based on historical data related to the particular consumer and one or more related consumers, determining an estimated number of units to be sold for the virtual offer as a function of at least the probability, the estimated number of units representing a predicted demand, calculating a real time demand, wherein the real time demand is generated based on a plurality of generated identification pairs for the predetermined time period, and determining, using a processor, total demand by summing the predicted demand and the real time demand.
1. A method comprising:
capturing, with at least a processor, user browsing activity comprising at least user interface navigation within a taxonomy comprising classifications of consumer goods or consumer services, the classifications represented by user interface components provided by a promotion and marketing service;
performing at least one of: (a) detecting location data from a user device, or (b) extracting the location data from at least one of the browsing activity or a user input;
in real-time relative to detecting or extracting the location data:
correlating the browsing activity with the location data;
generating one or more virtual promotions, the one or more virtual promotions comprising at least a first classification and a second classification from the taxonomy and based on the user browsing activity, and an offering location;
determining an estimated quantity of units to be sold of the one or more virtual promotion based on the captured user browsing activity within the taxonomy and the respective location data;
distributing, in real-time, the estimated quantity of units to be sold across a plurality of hyper-local regions associated with the location data, wherein each of the plurality of hyper-local regions is a subset of an area associated with the location data;
identifying at least one merchant having a profile stored by the promotion and marketing service, and being associated with at least the first classification, the second classification, and the offering location;
allocating a subset of the estimated quantity of the units of the virtual promotion to respective merchants of the at least one merchant; and
providing, in real-time, the allocated subset of the estimated quantity of the units of the virtual promotion to at least one of the respective at least one merchant or a sales resource associated therewith.
2. The method according to claim 1 , wherein determining the estimated quantity of units to be sold comprises determining probabilities that respective users would purchase the virtual promotion.
3. The method according to claim 1 , further comprising:
adjusting the estimated quantity of units based on at least one or more external factors comprising seasonality, one or more holidays, one or more events, one or more economic conditions.
4. The method according to claim 1 , wherein determining the estimated quantity of units to be sold comprises determining a voting value of the virtual promotion indicated by a plurality of users via a user interface provided by the promotion and marketing service.
5. The method according to claim 1 , further comprising:
identifying at least one merchant based on a probability to close a contract on the virtual promotion; and
providing the virtual promotion and the estimated quantity of units to the at least one merchant.
6. The method according to claim 1 , further comprising:
capturing textual search inputs provided via the user interface, wherein the estimated quantity of units to be sold of the virtual promotion is further based on the textual search inputs.
7. An apparatus comprising at least one processor and at least one memory including computer program code, the at least one memory and the computer program code configured to, with the processor, cause the apparatus to at least:
capture user browsing activity comprising at least user interface navigation within a taxonomy comprising classifications of consumer goods or consumer services, the classifications represented by user interface components provided by a promotion and marketing service;
perform at least one of: (a) detecting location data from a user device, or (b) extract the location data from at least one of the browsing activity or a user input;
in real-time relative to detecting or extracting the location data:
correlate the browsing activity with the location data;
generate one or more virtual promotions, the one or more virtual promotions comprising at least a first classification and a second classification from the taxonomy and based on the user browsing activity, and an offering location;
determine an estimated quantity of units to be sold of the one or more virtual promotion based on the captured user browsing activity within the taxonomy and the respective location data;
distribute, in real-time, the estimated quantity of units to be sold across a plurality of hyper-local regions associated with the location data, wherein each of the plurality of hyper-local regions is a subset of an area associated with the location data;
identify at least one merchant having a profile stored by the promotion and marketing service, and being associated with at least the first classification, the second classification, and the offering location;
allocate a subset of the estimated quantity of the units of the virtual promotion to respective merchants of the at least one merchant; and
provide, in real-time, the allocated subset of the estimated quantity of the units of the virtual promotion to at least one of the respective at least one merchant or a sales resource associated therewith.
8. The apparatus according to claim 7 , wherein determining the estimated quantity of units to be sold comprises determining probabilities that respective users would purchase the virtual promotion.
9. The apparatus according to claim 7 , wherein the at least one memory and the computer program code are further configured to, with the processor, cause the apparatus to at least:
adjust the estimated quantity of units based on at least one or more external factors comprising seasonality, one or more holidays, one or more events, one or more economic conditions.
10. The apparatus according to claim 7 , wherein determining the estimated quantity of units to be sold comprises determining a voting value of the virtual promotion indicated by a plurality of users via a user interface provided by the promotion and marketing service.
11. The apparatus according to claim 7 , wherein the at least one memory and the computer program code are further configured to, with the processor, cause the apparatus to at least:
identify at least one merchant based on a probability to close a contract on the virtual promotion; and
provide the virtual promotion and the estimated quantity of units to the at least one merchant.
12. The apparatus according to claim 7 , wherein the at least one memory and the computer program code are further configured to, with the processor, cause the apparatus to at least:
capture textual search inputs provided via the user interface, wherein the estimated quantity of units to be sold of the virtual promotion is further based on the textual search inputs.
13. A computer program product comprising at least one non-transitory computer-readable storage medium having computer-executable program code instructions stored therein, the computer-executable program code instructions comprising program code instructions to:
capture user browsing activity comprising at least user interface navigation within a taxonomy comprising classifications of consumer goods or consumer services, the classifications represented by user interface components provided by a promotion and marketing service;
perform at least one of: (a) detecting location data from a user device, or (b) extracting the location data from at least one of the browsing activity or a user input;
in real-time relative to detecting or extracting the location data:
correlate the browsing activity with the location data;
generate one or more virtual promotions, the one or more virtual promotions comprising at least a first classification and a second classification from the taxonomy, and an offering location;
determine an estimated quantity of units to be sold of the one or more virtual promotion based on the captured user browsing activity within the taxonomy and the respective location data;
distribute, in real-time, the estimated quantity of units to be sold across a plurality of hyper-local regions associated with the location data, wherein each of the plurality of hyper-local regions is a subset of an area associated with the location data;
identify at least one merchant having a profile stored by the promotion and marketing service, and being associated with at least the first classification, the second classification, and the offering location;
allocate a subset of the estimated quantity of the units of the virtual promotion to respective merchants of the at least one merchant; and
provide, in real-time, the allocated subset of the estimated quantity of the units of the virtual promotion to at least one of the respective at least one merchant or a sales resource associated therewith.
14. The computer program product according to claim 13 , wherein determining the estimated quantity of units to be sold comprises determining probabilities that respective users would purchase the virtual promotion.
15. The computer program product according to claim 13 , wherein the computer-executable program code instructions further comprise program code instructions to:
adjust the estimated quantity of units based on at least one or more external factors comprising seasonality, one or more holidays, one or more events, one or more economic conditions.
16. The computer program product according to claim 13 , wherein determining the estimated quantity of units to be sold comprises determining a voting value of the virtual promotion indicated by a plurality of users via a user interface provided by the promotion and marketing service.
17. The computer program product according to claim 13 , wherein the computer-executable program code instructions further comprise program code instructions to:
identify at least one merchant based on a probability to close a contract on the virtual promotion; and
provide the virtual promotion and the estimated quantity of units to the at least one merchant.