Relocation Recommendation System Using Transaction Data
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Cardholders relocating to a new area face difficulties in finding recommended merchants and suitable locations based on their past payment transactions, as existing methods require extensive individual research and do not provide recommendations for residence or merchant proximity.
Innovation Solution
A system and method using a relocation recommendation computing device that analyzes payment card transaction data to determine areas of interest for relocating cardholders, identifies matching merchants at the new location, and provides personalized relocation recommendations, including merchant locations and suitable target areas.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If cardholders perform individual research for each area of interest to find merchants at target location, then they can find merchants similar to those at prior location, but it requires extensive time and effort
Solution Approach 1:
The system performs preliminary analysis of payment card transaction data to pre-identify cardholder preferences, areas of interest, and preferred merchants before relocation. This allows the system to have recommendations ready when the cardholder relocates, eliminating the need for extensive individual research at the target location.
Solution Approach 2:
The patent introduces an intermediary system (the recommendation system) that mediates between the cardholder's past transaction data and the need for merchant recommendations at the new location. This intermediary automatically processes the information matching, saving the cardholder time while maintaining accuracy.
2Ease of operation
If cardholders use store locator searches on each merchant's website, then they can find specific merchants, but it requires extensive individual research and is cumbersome
Solution Approach 1:
The patent merges multiple individual store locator functions into a single unified recommendation system. Instead of requiring cardholders to search each merchant's website separately, the system consolidates merchant information from transaction data and presents a comprehensive list of recommended merchants in one place.
Solution Approach 2:
The system enables self-service by automatically generating merchant recommendations based on the cardholder's own transaction history without requiring them to manually search multiple websites. The system serves itself by using its own stored data to provide recommendations.
3Measurement precision
If cardholders perform extensive research to find suitable target location near preferred merchants, then they can find ideal relocation area, but it is cumbersome and time-consuming
Solution Approach 1:
The system performs preliminary analysis of the cardholder's transaction data to pre-identify preferred merchants and areas of interest before relocation. This allows the system to quickly match these preferences with suitable target locations, eliminating the need for complex research by the cardholder.
Solution Approach 2:
The patent creates a universal recommendation system that handles multiple functions: identifying areas of interest, finding preferred merchants, locating similar merchants at target locations, and recommending suitable areas all in one process. This multi-functional approach simplifies what would otherwise require multiple separate research efforts.
Data Source
AI summary
A method for determining a relocation recommendation for a relocating cardholder relocating from a first location to a target location is provided. The method is implemented using a relocation recommendation (RR) computing device in communication with a memory. The method includes receiving, from a cardholder device, a cardholder identifier for the relocating cardholder, and at least one of a general target area and the target location. The method also includes determining an area of interest for the relocating cardholder based at least in part on payment card transaction data at the first location, identifying at least one other cardholder having initiated payment card transactions within the target location and having the same area of interest as the relocating cardholder, determining at least one target merchant located within the target location that is associated with the area of interest, and transmitting, to the cardholder device, a relocation recommendation.