Michael Stephen Conley

US Patent:

20120016808, Jan 19, 2012

Filed:

Jul 16, 2010

Appl. No.:

12/837664

Inventors:

Vipin K. Ramani - Charlotte NC, US
Michael D. Conley - Charlotte NC, US
Karen E. Krastev - Pacifica CA, US
Brian R. Whitaker - Charlotte NC, US
Daniel J. Malouff - Thousand Oaks CA, US

Assignee:

BANK OF AMERICA CORPORATION - Charlotte NC

International Classification:

G06Q 40/00

US Classification:

705 36 R

Abstract:

An optimization engine is provided to determine, through price optimization modeling, an optimal combination of price and volume for various products and services of an organization while also considering numerous factors internal and external to the organization. The price optimization modeling provided by the optimization engine may, among other things, be used by the organization to determine the optimal set of pricing recommendations that will provide the organization with the highest total contribution margin (total revenue less total variable cost). The optimization engine may consider various data inputs and analytics that allow an organization to develop a more effective and disciplined price-decisioning process.