SYSTEMS AND METHODS FOR COMPUTER ANALYTICS OF ASSOCIATIONS BETWEEN STORED PRODUCTS AND COMPLETED ELECTRONIC TRANSACTION EVENTS
Systems and methods are disclosed for generating analytics for products placed in virtual or physical shopping carts. In particular, the present systems and methods disclose various ways to generate and use analytics describing the relation between products that are stored in shopping carts (e.g., indicating a user’s interest in a product), and products that are actually purchased. One method includes: detecting, using a processor, a shopping cart associated with a registered user; receiving, by the processor, indication of a selected product associated with the shopping cart; receiving, by the processor, transaction data associated with the registered user; and if the transaction data includes purchase of the selected product, generating, using the processor, a first cart abandonment score; if the transaction data includes purchase of a product other than the selected product, generating, using a processor, a second cart abandonment score, the second cart abandonment score being different from the first cart abandonment score.
1 . A computer-implemented method of generating analytics for products placed in virtual or physical shopping carts, the method comprising:
detecting, using a processor of a purchase tracking computing system, a shopping cart associated with a registered user;
identifying, using the processor, a purchase price that a selected product placed in the shopping cart was purchased at;
determining, using the processor and based on the identifying, at least one trend associated with the selected product; and
performing, based on the determined at least one trend, an action in relation to the selected product.
2 . The method of claim 1 , wherein the determining the at least one trend comprises ascertaining that the purchase price of the selected product corresponds to a preferred purchase price for the selected product and wherein the ascertaining comprises:
identifying that the selected product was purchased subsequent to implementation of a price reduction for the selected product from a higher price to the purchase price.
3 . The method of claim 2 , wherein the determining the at least one trend further comprises recognizing that a preferred price reduction for a second product, similar to the selected product, is greater than the price reduction for the selected product and wherein the recognizing comprises:
identifying that another price reduction, larger than the price reduction for the selected product, is more frequently issued for the second product than the selected product; and
identifying that the second product is purchased subsequent to implementation of the another price reduction for the second product.
4 . The method of claim 1 , further comprising identifying a demographic category associated with the registered user and wherein the determining the at least one trend comprises ascertaining a preferred price range for the selected product for a set of registered users associated with the demographic category.
5 . The method of claim 1 , wherein the determining the at least one trend comprises identifying, for a merchant selling the selected product, a common price range for a total purchase transaction based on a product sales category associated with the merchant and further comprising:
identifying a total purchase amount for the shopping cart; and
ascertaining whether the total purchase amount for the shopping cart is within the common price range based on the product sales category associated with the merchant; and
wherein the performing the action comprises performing, responsive to ascertaining that the total purchase amount for the shopping cart is not within the common price range, an alert of potential fraud to an authority.
6 . The method of claim 5 , wherein the performing the action comprises providing, responsive to ascertaining that the total purchase amount for the shopping cart is not within the common price range, an alert of potential fraud to an authority.
7 . The method of claim 5 , wherein the performing the action comprises affecting, responsive to ascertaining that the total purchase amount for the shopping cart is lower than the common price range, a quarterly performance evaluation for the merchant.
8 . A decentralized computer system for generating analytics for products placed in virtual or physical shopping carts, the system comprising:
a data storage device storing instructions for generating analytics for products placed in virtual or physical shopping carts; and
a processor configured to execute the instructions to perform a method including:
detecting, using a processor of a purchase tracking computing system, a shopping cart associated with a registered user;
identifying, using the processor, a purchase price that a selected product placed in the shopping cart was purchased at;
determining, using the processor and based on the identifying, at least one trend associated with the selected product; and
performing, based on the determined at least one trend, an action in relation to the selected product.
9 . The system of claim 8 , wherein the processor configured for determining the at least one trend is further configured for ascertaining that the purchase price of the selected product corresponds to a preferred purchase price for the selected product and wherein the processor configured for ascertaining is further configured for:
identifying that the selected product was purchased subsequent to implementation of a price reduction for the selected product from a higher price to the purchase price.
10 . The system of claim 9 , wherein the processor configured for determining the at least one trend is further configured for recognizing that a preferred price reduction for a second product, similar to the selected product, is greater than the price reduction for the selected product and wherein the processor configured for recognizing is further configured for:
identifying that another price reduction, larger than the price reduction for the selected product, is more frequently issued for the second product than the selected product; and
identifying that the second product is purchased subsequent to implementation of the another price reduction for the second product.
11 . The system of claim 8 , wherein the processor is further configured for identifying a demographic category associated with the registered user and wherein the processor configured for determining the at least one trend is further configured for ascertaining a preferred price range for the selected product for a set of registered users associated with the demographic category.
12 . The system of claim 8 , wherein the processor configured for determining the at least one trend is further configured for identifying, for a merchant selling the selected product, a common price range for a total purchase transaction based on a product sales category associated with the merchant and wherein the processor is further configured for:
identifying a total purchase amount for the shopping cart; and
ascertaining whether the total purchase amount for the shopping cart is within the common price range based on the product sales category associated with the merchant.
13 . The system of claim 12 , wherein the processor configured for performing the action is further configured for providing, responsive to ascertaining that the total purchase amount for the shopping cart is not within the common price range, an alert of potential fraud to an authority.
14 . The system of claim 12 , wherein the processor configured for performing the action is further configured for affecting, responsive to ascertaining that the total purchase amount for the shopping cart is lower than the common price range, a quarterly performance evaluation for the merchant.
15 . A non-transitory machine-readable medium storing instructions that, when executed by a server, cause the server to perform a method for generating analytics for products placed in virtual or physical shopping carts, the method including:
detecting, using a processor of a purchase tracking computing system, a shopping cart associated with a registered user;
identifying, using the processor, a purchase price that a selected product placed in the shopping cart was purchased at;
determining, using the processor and based on the identifying, at least one trend associated with the selected product; and
performing, based on the determined at least one trend, an action in relation to the selected product.
16 . The machine readable medium of claim 15 , wherein the determining the at least one trend comprises ascertaining that the purchase price of the selected product corresponds to a preferred purchase price for the selected product and wherein the ascertaining comprises:
identifying that the selected product was purchased subsequent to implementation of a price reduction for the selected product from a higher price to the purchase price.
17 . The machine readable medium of claim 16 , wherein the determining the at least one trend further comprises recognizing that a preferred price reduction for a second product, similar to the selected product, is greater than the price reduction for the selected product and wherein the recognizing comprises:
identifying that another price reduction, larger than the price reduction for the selected product, is more frequently issued for the second product than the selected product; and identifying that the second product is purchased subsequent to implementation of the another price reduction for the second product.
18 . The machine readable medium of claim 15 , wherein the method further comprises identifying a demographic category associated with the registered user and wherein the determining the at least one trend comprises ascertaining a preferred price range for the selected product for a set of registered users associated with the demographic category.
19 . The machine readable medium of claim 15 , wherein the determining the at least one trend comprises identifying, for a merchant selling the selected product, a common price range for a total purchase transaction based on a product sales category associated with the merchant and further comprising:
identifying a total purchase amount for the shopping cart; and
ascertaining whether the total purchase amount for the shopping cart is within the common price range based on the product sales category associated with the merchant.
20 . The machine readable medium of claim 19 , wherein the performing the action comprises providing, responsive to ascertaining that the total purchase amount for the shopping cart is not within the common price range, an alert of potential fraud to an authority.