Patent ID: 8239250
Filing Date: 2012-08-07
Classification: G06Q

Abstract:
1. A method for modeling consumer spend by industry, comprising: calculating, by a computer-based system for modeling consumer spend comprising a processor and a tangible, non-transitory memory, a size of wallet for each consumer in a plurality of consumers, wherein the size of wallet is calculated by a method comprising: modeling, by the computer-based system, spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data; estimating, by the computer-based system, credit-related information of each consumer based on tradeline data of each consumer, previous balance transfers of each consumer, and the model of consumer spending patterns to arrive at estimated credit-related information, wherein the credit-related information comprises a spend amount associated with the individual consumer; and offsetting, by the computer-based system, the previous balance transfers from the estimated credit-related information; calculating, by the computer-based system, a share of wallet for each consumer; determining, by the computer-based system, a subset of the plurality of consumers whose share of wallet is above a given percentage of their size of wallet; determining, by the computer-based system, an industry size of wallet for each consumer in the subset using a fixed weighting factor and a graded weighting factor in conjunction with lifestyle variables comprising a location rank, a length of each consumer's tenure with a credit bureau, each consumer's gender, and each consumer's household size, wherein the graded weighting factor varies, in accordance with the value of at least one of the lifestyle variables; and deriving, by the computer-based system, a correlation between an industry size of wallet of a given consumer and one or more characteristics of the given consumer using the industry size of wallet for the consumers in the subset.