Financial Policy Change Advisor for Entity-Specific Impact Estimation

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Solution Overview

Problem

Current financial policy changes have unclear economic impacts on specific households or businesses, leading to speculation and generalized model outputs, which fail to provide accurate information for individual or business decisions.

Innovation Solution

A computer-implemented method and system that acquires financial data from entities, applies proposed financial policies to estimate specific financial outcomes, and presents these outcomes in a meaningful form to users, using modules for data acquisition, policy application, and comparison.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Device complexity

If generalized model outputs for average household are used, then calculation complexity is reduced, but measurement precision of financial impact is insufficient

Engineering Contradiction:

Improvecalculation complexityVSAvoidfinancial impact precision

Core Design Contradiction:

Device complexityVSMeasurement precision

Solution Approach 1:

The patent segments the population from generalized average households into specific individual households with unique financial profiles. By dividing the analysis into entity-specific calculations rather than aggregate modeling, the system achieves precise financial impact measurements for individual entities while maintaining manageable computational complexity through automated processing.

Inventive Principle:

Principle #1Segmentation

2Measurement precision

If entity-specific financial data is processed, then measurement precision of financial impact is improved, but device complexity increases

Engineering Contradiction:

Improvefinancial impact precisionVSAvoidsystem complexity

Core Design Contradiction:

Measurement precisionVSDevice complexity

Solution Approach 1:

The system enables entities to self-input their financial data through automated interfaces, reducing the burden on centralized processing systems. Entities independently provide their own financial information, which is then automatically processed by the simulation engine, thereby achieving precise entity-specific calculations without proportionally increasing overall system complexity.

Inventive Principle:

Principle #25Self-service

Solution Approach 2:

The patent replaces manual complex calculations and expert analysis with automated computer-based simulation systems. The financial policy simulation engine automatically processes entity-specific data through algorithmic calculations, substituting manual mechanical processes with automated computational systems that handle complexity efficiently.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

3Productivity

If generalized arguments from special interest groups are used, then information processing speed is maintained, but loss of information occurs

Engineering Contradiction:

Improveinformation processing speedVSAvoidfinancial impact information

Core Design Contradiction:

ProductivityVSLoss of information

Solution Approach 1:

The system provides direct feedback to entities about the specific financial impacts of proposed policies on their individual situations. Rather than relying on generalized arguments, the simulation engine calculates and returns entity-specific outcomes, ensuring that no relevant financial impact information is lost while maintaining efficient automated processing speeds.

Inventive Principle:

Principle #23Feedback

Data Source

PatentUS8099309B1Financial policy change advisor

Publication Date: 2012.01.17 INTUIT INC

AI summary

The invention relates to a computer implemented method of estimating a first financial outcome. The computer implemented method involves obtaining financial data associated with an entity, selecting a first proposed financial policy impacting the entity, applying the first proposed financial policy to the financial data to estimate the first financial outcome, and presenting the first financial outcome to the entity.