Dynamic Word Pricing for Post-Translation Editing
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Solution Overview
Problem
In the editing industry, determining the appropriate word price for editing jobs is challenging due to uncertainties in the initial quality and complexity of content, leading to risks for both editors and administrators, as simple and complex jobs are often priced equally.
Innovation Solution
A system and method that involve providing a first editing job to preferred editors to determine their editing time, which is used to calculate a risk-reduced word price for subsequent editing jobs within a batch job, based on production speed and quality, allowing for dynamic pricing adjustments.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a fixed word price is negotiated before editing, then the editor can secure a guaranteed rate, but the editor takes on risk because they cannot know the actual time required to edit the content
Solution Approach 1:
The system performs preliminary actions by providing a first editing job to preferred editors before setting the word price for subsequent jobs. The editing time from this preliminary job is used to calculate a benchmark that informs the word price for remaining jobs, allowing the system to act in advance with better information about actual editing requirements
Solution Approach 2:
The word price is made dynamic rather than fixed. The system calculates different word prices for different portions of batch jobs based on real-time feedback from preferred editors' performance. The word price adjusts dynamically as the system learns from actual editing data, transitioning from static pre-negotiated rates to adaptive pricing
2Ease of operation
If a fixed word price is set for all editing jobs, then pricing is simple, but complex and simple jobs are priced equally causing unfair compensation
Solution Approach 1:
Different word prices are applied to different portions of editing jobs based on local characteristics. The system divides batch jobs into portions and assigns different word prices to each portion based on the specific editing time and complexity observed in that local context, rather than applying a uniform rate across all jobs
Solution Approach 2:
The system changes the pricing parameter dynamically based on observed editing parameters. As the system collects data on actual editing times and complexities, it adjusts the word price parameter to reflect these changes, moving from a static single parameter to a dynamic multi-parameter pricing model
3Productivity
If the editor completes simple jobs quickly, then the editor benefits from the fixed word price, but the administrator loses money compared to if the price had been adjusted downward
Solution Approach 1:
The system implements feedback loops where the editing time and performance data from preferred editors on initial jobs are fed back into the pricing mechanism. This feedback allows the system to adjust word prices for subsequent jobs, ensuring that administrators pay appropriate rates based on actual job complexity and editing speed requirements
Data Source
AI summary
Systems and methods for determining a risk-reduced word price for editing. The editing can be of a document, for example, that has been translated by a human or a machine. A system and method may include providing to one or more preferred editors a first portion of editing jobs from a batch job. In some aspects, the system and method may include receiving an editing time of the one or more preferred editors editing the first portion of editing jobs. In further aspects, the system and method can include calculating a word price for editing a remaining portion of editing jobs of the batch job based on the editing time.