| CPC G06Q 20/202 (2013.01) [G06Q 10/087 (2013.01); G06Q 20/201 (2013.01); G06Q 20/203 (2013.01); G06Q 30/0603 (2013.01); G06Q 30/0625 (2013.01); G06Q 30/0635 (2013.01)] | 20 Claims |
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1. A method comprising:
exposing, by a service computing device of a service provider, one or more Application Programming Interfaces (APIs) to provide point-of-sale (POS) devices of a plurality of merchants access to the service computing device, wherein the service provider provides inventory, pricing, POS, and catalog services to the plurality of merchants;
receiving, by the service computing device via the one or more APIs and from a merchant support application executing on a first POS device of a first merchant of the plurality of merchants, a first product catalog indicating one or more products offered for sale by the first merchant, wherein the first product catalog includes a product specification associated with a product of the one or more products;
receiving, by the service computing device via the one or more APIs and from the merchant support application executing on a second POS device of a second merchant of the plurality of merchants, a second product catalog indicating one or more products offered for sale by the second merchant, wherein the second product catalog includes the product specification associated with the product;
storing, at a storage device associated with the service provider, one or more first data records associated with the first merchant and one or more second data records associated with the second merchant, wherein the one or more first data records and the one or more second data records include data corresponding to the product specification;
receiving, by the service computing device and via the one or more APIs and from the merchant support application executing on the first POS device, a plurality of first pricing records associated with the product, wherein each first pricing record of the plurality of first pricing records indicates at least a first price set by the first merchant for the product at a first location during a first time period;
receiving, by the service computing device and via the one or more APIs and from the merchant support application executing on the second POS device, a plurality of second pricing records associated with the product, wherein each second pricing record of the plurality of second pricing records indicates at least a second price set by the second merchant for the product at a second location during a second time period;
storing, at the storage device, (i) the plurality of first pricing records in association with the one or more first data records, and (ii) the plurality of second pricing records in association with the one or more second data records;
obtaining, by the service computing device, historical sales data indicating historical sales of the product by the first merchant and the second merchant, wherein the historical sales data indicates quantity, time, and location of the historical sales;
receiving, by the service computing device via the one or more APIs and from the merchant support application executing on a third POS device of a third merchant, a request from the third merchant for a price recommendation for the product;
determining, by the service computing device and based at least in part on the one or more first data records, the one or more second data records, and the historical sales data, one or more correlations between the historical sales of the product and prices of the product;
determining, by the service computing device and based at least in part on the one or more correlations, the price recommendation; and
sending, by the service computing device, the price recommendation to the third POS device.
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