Nor1 Granted Patent for Pricing and Merchandising Technology

  • Nor1
  • 05.30.12
Nor1, a technology leader in upsell solutions, announced the issuance of Patent Number 8,170,925 from the United States Patent and Trademark Office for computer-implemented methods and systems for automatic merchandising. While this breakthrough pricing and merchandising technology is advanced, Nor1 simply calls it PRiME®.

This patent goes two steps beyond the commonplace notion of a user profile and introduces the concept of a two-sided persona, distinctly a Nor1 innovation. Because they're created in real-time and because they look at both sides of the market, two-sided personas are comprehensive and highly predictive of a transaction outcome — a dramatic step beyond conventional user profiles used in current retail environments.

“We are most proud of the validation and endorsement our technology, PRiME, just received from the USPTO,” said Art Norins, co-founder and CEO of Nor1. “No other company is leveraging pricing and merchandising technologies in such a data-centric, buyer-centric way.”

While its patents span all industries, Nor1’s upsell solutions are focused on the hospitality industry. In support of this concentration, PRiME’s true purpose is to maximize revenue for hotels while maintaining the rate integrity of their perishable inventories. Using sophisticated algorithms trained on millions of historical hotel reservation transactions, PRiME can better predict a hotel guest’s willingness to pay for upgrades and ancillary services. This powerful pricing and merchandising engine produces in milliseconds what it would take the average hotel revenue manager days if not weeks to discern.

PRiME serves as the platform on which Nor1’s upsell solutions, such as the patented eStandby Upgrade®, operate. This is one of several Nor1 patents granted, pending or in the process.




Related Articles
want to read more articles like this?

want to read more articles like this?

Sign up to receive our twice-a-month Watercooler and Siegel Sez Newsletters and never miss another article or news story.