Multi-dimensional Credibility Scoring System
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Solution Overview
Problem
Current credit scoring systems primarily focus on risk assessment and do not account for other critical factors such as entity credibility, trustworthiness, and customer experience, making it difficult for entities to comprehensively quantify their credibility and compare it to peers.
Innovation Solution
A multi-dimensional credibility scoring system that assesses stability, transparency, trustworthiness, and sentiment dimensions, using data from various sources to generate a holistic credibility score, allowing entities to submit corrections and additional data for accuracy.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If traditional credit scoring systems are used, then risk assessment is provided, but credibility assessment across multiple dimensions (trustworthiness, customer experience, quality) is not provided
Solution Approach 1:
The patent segments credibility assessment into multiple distinct dimensions including trustworthiness, customer experience, quality, and other factors. Each dimension is evaluated separately through targeted data collection and scoring, allowing comprehensive credibility assessment while maintaining systematic organization and manageability of the complex evaluation process
Solution Approach 2:
The patent creates a multi-functional scoring system that simultaneously assesses traditional credit risk and multiple credibility dimensions. The unified platform collects data from diverse sources (lenders, vendors, customers, employees) and generates comprehensive scores that serve multiple purposes: risk assessment, partnership evaluation, and business decision-making
2Adaptability or versatility
If credit scores are derived from closed credit reporting processes, then standardized risk assessment is provided, but contribution from diverse sources (individuals, small businesses, merchants) is limited
Solution Approach 1:
The patent introduces a centralized credibility scoring platform that acts as an intermediary between diverse data sources (individuals, small businesses, merchants, customers) and the assessment process. This intermediary collects, validates, and standardizes data from multiple contributors, transforming unstructured inputs into reliable credibility scores while maintaining measurement precision through systematic verification processes
3Loss of time
If entities piece together credibility from various media (reviews, complaints, surveys), then comprehensive credibility information can be obtained, but the process is very time consuming and inaccurate
Solution Approach 1:
The patent implements preliminary data collection and validation processes where the credibility scoring system proactively gathers information from multiple sources (reviews, complaints, surveys, operational data) and pre-processes this data into standardized formats. This preliminary action eliminates the need for entities to manually piece together credibility information, saving time while maintaining accuracy through systematic data aggregation and validation algorithms
Data Source
AI summary
A credibility scoring system produces a multi-dimensional entity credibility score that is derived from multiple dimensional component scores. The credibility scoring system derives each dimensional component score from a different set of credibility data pertaining to different dimensional aspect of overall credibility. The different dimensional aspects factoring into the overall credibility determination include a stability dimension, transparency dimension, trustworthiness dimension, and sentiment dimension.