Inventory Ingestion and Image-Based Pricing for Faster Listings
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Solution Overview
Problem
The process of listing items for sale on electronic marketplaces is cumbersome and resource-intensive, often deterring users due to the time, computer processing, and bandwidth requirements for creating product listings and determining pricing, leading to potential lost commissions and revenue.
Innovation Solution
A system that uses image recognition and analysis of email receipts to automatically identify objects for sale and determine prices based on the pricing history of similar items on electronic marketplaces, simplifying the listing process by generating prices and listings without manual input.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If manual listing creation process is used, then users can create product listings with detailed information, but the process consumes substantial time and computer processing resources
Solution Approach 1:
The system creates a copy of the product by capturing an image and using image recognition to extract product information, replacing the manual creation process. The image serves as a copy that contains all necessary product identification data, which is then processed automatically to generate the listing.
Solution Approach 2:
The manual mechanical process of typing descriptions, searching for products, and determining pricing is replaced with an automated system using image recognition technology and machine learning algorithms to extract product information and generate listings automatically.
2Reliability
If manual listing creation process is used, then users can determine pricing through research, but the process consumes substantial network bandwidth through multiple back-and-forth communications
Solution Approach 1:
The system performs preliminary pricing research automatically by querying the marketplace database with the recognized product information before the user needs to list the item. This preliminary action retrieves pricing data in advance, eliminating the need for multiple back-and-forth communications during the actual listing process.
Solution Approach 2:
The system performs self-service by automatically conducting pricing research and determining optimal listing prices without requiring user intervention. The automated system queries the marketplace, analyzes pricing data, and generates pricing recommendations independently, reducing network bandwidth consumption associated with manual research.
3Productivity
If automatic image recognition and pricing system is used, then listing process is simplified and time is reduced, but the system complexity increases
Solution Approach 1:
The system combines multiple functions into a single integrated platform: image capture, image recognition, product identification, pricing research, and listing generation. This multi-functional approach consolidates what would otherwise require separate tools and processes, managing system complexity while enhancing productivity.
Solution Approach 2:
The system introduces an intermediary layer between the user and the marketplace - an automated processing system that handles image analysis, product identification, and pricing research. This intermediary absorbs the complexity of these tasks, allowing users to interact simply by providing images while the intermediary manages the complex processing in the background.
Data Source
AI summary
Disclosed herein are system, method, and computer program product embodiments for providing inventory ingestion and pricing system. An embodiment operates by identifying an e-mail receipt identifying a purchased object. The e-mail receipt is parsed for the identification of the purchased object. From an electronic marketplace, a set of items similar to the purchased object is identified. A price for a subset of the identified set of similar items that have sold on the electronic marketplace is determined. A sale price for the purchased object is generated based on the determined prices for the subset of similar items. The generated price is provided responsive to the identification of the purchased object.