Location-Based Financial Data Personalization
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Financial-related web sites struggle to maintain user interest and generate revenue through additional page views, as users often lack personalized and relevant financial information based on their geographic location.
Innovation Solution
Utilizing geographic information to select and display additional securities of interest to users, incorporating location determination methods like zip code or IP address, and storing this data in cookies or servers to provide personalized financial information, such as 'other securities that might interest you', based on usage patterns and contractual agreements.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If generic financial information is displayed to all users, then the system is simple to operate, but user interest and engagement are low
Solution Approach 1:
The system performs preliminary actions by determining user geographic location in advance (via IP address or zip code entry) and pre-selecting securities relevant to that location before the user requests information. This allows personalized content to be ready when the user arrives, improving engagement without adding complex real-time processing.
Solution Approach 2:
The system uses automatically available data (IP address) or simple user input (zip code) to self-determine location and self-select relevant securities without requiring complex user profiles or manual configuration. The user benefits from personalization while the system maintains simplicity through automated self-service mechanisms.
2Productivity
If location-based personalization is implemented, then user engagement increases, but data collection and processing complexity increases
Solution Approach 1:
The system uses multi-functional approaches by accepting multiple methods for location determination (IP address automatic detection, manual zip code entry) and using the same geographic data for multiple purposes (selecting securities, determining relevant financial information). This universal handling of location data improves engagement while avoiding the need for separate complex systems for each function.
3Adaptability or versatility
If relevant securities are displayed based on location, then user interest in additional securities increases, but the time to determine and display personalized content increases
Solution Approach 1:
The system performs preliminary selection of securities based on geographic location before the user makes specific requests. By pre-determining which securities are relevant to the user's location, the system eliminates the need for time-consuming real-time analysis when the user actually interacts with the site, thus maintaining both relevance and speed.
Data Source
AI summary
According to various embodiments of the present invention, geographic information about the location of a user is utilized to select a grouping of additional securities to display to the user. When the user navigates to a portion of a web site related to displaying financial information, a listing of securities that might be interesting to the user may be displayed. As a result, the user is more likely to find out more information relating to one or more of these additional securities, and therefore generate more page views on the system.