Personalized Financial Planner Module Segmentation

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Solution Overview

Problem

Current financial planning software lacks the ability to create personalized financial plans based on a user's stage of life, lifestyle, and financial circumstances, failing to predict the consequences of financial actions and provide adequate guidance for achieving financial objectives.

Innovation Solution

A software-based financial planner that collects user data on their stage of life, lifestyle, and financial circumstances to develop and present personalized financial plans, budgets, and guidance, including charts, graphs, and educational resources, to help users achieve their financial objectives by identifying necessary actions and providing solutions to potential problems.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If comprehensive user data collection is implemented to create personalized financial plans, then the quality and personalization of financial planning improves, but the complexity of the system increases

Engineering Contradiction:

Improvepersonalization of financial plansVSAvoidsystem complexity

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The financial planning system is divided into multiple functional modules including data collection module, data analysis module, plan generation module, and guidance provision module. Each module handles specific aspects of the financial planning process, making the overall complex system manageable and maintainable while delivering personalized financial plans through coordinated module operations.

Inventive Principle:

Principle #1Segmentation

Solution Approach 2:

The patent introduces a financial planner system as an intermediary between users and financial planning services. This intermediary automatically collects user data, analyzes financial circumstances, generates personalized plans, and provides guidance, thereby reducing the complexity burden on users while maintaining high personalization quality.

Inventive Principle:

Principle #24Intermediary (Mediator)

2Reliability

If the financial planner provides comprehensive education and guidance, then the user's financial decision-making capability improves, but the amount of information and time required increases

Engineering Contradiction:

Improvefinancial decision-making qualityVSAvoidtime for financial planning

Core Design Contradiction:

ReliabilityVSLoss of time

Solution Approach 1:

The financial planner system performs preliminary data collection, analysis, and plan generation automatically before users need to make decisions. By pre-processing financial data and preparing personalized plans in advance, the system reduces the time users need to spend on financial planning while maintaining high decision-making quality through comprehensive guidance.

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

The system enables users to self-service their financial planning needs by automatically collecting their data, analyzing their circumstances, and generating personalized plans without requiring extensive user input or manual research. Users receive tailored guidance and education based on their specific situation, improving decision-making quality while minimizing time investment.

Inventive Principle:

Principle #25Self-service

Data Source

PatentUS7698190B2Method of creating financial plans of action and budget for achieving lifestyle and financial objectives

Publication Date: 2010.04.13 COLJOHN DEBRA A

AI summary

A software program that allows an individual with a personal computer to develop and implement plans of action for achieving a preferred lifestyle that appears feasible based on the individual's current and probable future financial circumstances.