Patent Publication Number: US-2022215313-A1

Title: System for predictive product replacement cycling

Description:
BACKGROUND 
     When a customer purchases a product or service from a merchant, it is likely that on a future date, the product or service will be purchased again as it will need to be replaced. On many occasions, however, the customer will purchase a similar product or service at a second merchant as a replacement. In this case, neither the original merchant nor the second merchant is aware of the other transaction, preventing either entity from accurately estimating the lifecycle of the product or service. As such, a need exists for a system which can determine a replacement cycle for a product or service independently of the merchants that sell it. 
     BRIEF SUMMARY 
     The following presents a simplified summary of one or more embodiments of the invention in order to provide a basic understanding of such embodiments. This summary is not an extensive overview of all contemplated embodiments, and is intended to neither identify key or critical elements of all embodiments, nor delineate the scope of any or all embodiments. Its sole purpose is to present some concepts of one or more embodiments in a simplified form as a prelude to the more detailed description that is presented later. 
     Embodiments of the invention relate to systems, methods, and computer program products for predictive product replacement cycling, the invention including: receiving a resource transfer dataset from a managing entity system, where the resource transfer dataset comprises data associated with a first resource transfer facilitated by the managing entity system and an identifier of a user associated with the first resource transfer; assigning the resource transfer dataset to a category of dataset types, where the assigned category is selected from one or more of a plurality of predetermined categories; querying a database for one or more datasets matching the assigned category and appending the resource transfer dataset to the one or more datasets matching the assigned category, creating a combined dataset; processing the combined dataset via a machine learning engine to predict a future resource transfer by the user associated with the first resource transfer; and transmitting a notification to the managing entity system, where the notification comprises information associated with the predicted future resource transfer. 
     In some embodiments, assigning the resource transfer dataset to a category of dataset types further includes assigning the resource transfer dataset to a subcategory of dataset types, where the assigned subcategory is selected from one or more of a plurality of predetermined subcategories. 
     In some embodiments, assigning the dataset to a category of dataset types further includes calculating a similarity score to one or more of a plurality of predetermined categories. 
     In some embodiments, processing the combined dataset via a machine learning engine further includes generating a machine learning dataset. 
     In some embodiments, the machine learning dataset includes data identifying one or more patterns or sequences of a plurality of resource transfers. 
     In some embodiments, the invention includes receiving supplemental information from the managing entity system, where the supplemental information includes data from a positioning system device associated with a user device and data from a managing entity application associated with the user device. 
     In some embodiments, the data associated with the first resource transfer includes information identifying a merchant associated with the first resource transfer. 
     In some embodiments, predicting a future resource transfer by the user associated with the first resource transfer further includes determining a list of one or more merchants associated with the predicted future resource transfer. 
     In some embodiments, the notification includes the list of one or more merchants associated with the predicted future resource transfer. 
     The features, functions, and advantages that have been discussed may be achieved independently in various embodiments of the present invention or may be combined with yet other embodiments, further details of which can be seen with reference to the following description and drawings. 
    
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
       Having thus described embodiments of the invention in general terms, reference will now be made to the accompanying drawings, wherein: 
         FIG. 1  illustrates an operating environment for the product replacement prediction system, in accordance with one embodiment of the present disclosure; 
         FIG. 2  is a block diagram illustrating the product replacement prediction system; 
         FIG. 3  is a block diagram illustrating a user device associated with the product replacement prediction system; 
         FIG. 4  is a flow diagram illustrating a process using the product replacement prediction system, in accordance with one embodiment of the present disclosure; and 
         FIG. 5  is a flow diagram illustrating a process using the product replacement prediction system, in accordance with another embodiment of the present disclosure. 
     
    
    
     DETAILED DESCRIPTION OF EMBODIMENTS OF THE INVENTION 
     Embodiments of the present invention will now be described more fully hereinafter with reference to the accompanying drawings, in which some, but not all, embodiments of the invention are shown. Indeed, the invention may be embodied in many different forms and should not be construed as limited to the embodiments set forth herein; rather, these embodiments are provided so that this disclosure will satisfy applicable legal requirements. Like numbers refer to elements throughout. Where possible, any terms expressed in the singular form herein are meant to also include the plural form and vice versa, unless explicitly stated otherwise. Also, as used herein, the term “a” and/or “an” shall mean “one or more,” even though the phrase “one or more” is also used herein. 
     “Entity” or “managing entity” as used herein may refer to any organization, entity, or the like in the business of moving, investing, or lending money, dealing in financial instruments, or providing financial services. This may include commercial banks, thrifts, federal and state savings banks, savings and loan associations, credit unions, investment companies, insurance companies and the like. In some embodiments, the entity may allow a user to establish an account with the entity. An “account” may be the relationship that the user has with the entity. Examples of accounts include a deposit account, such as a transactional account (e.g., a banking account), a savings account, an investment account, a money market account, a time deposit, a demand deposit, a pre-paid account, a credit account, or the like. The account is associated with and/or maintained by the entity. In other embodiments, an entity may not be a financial institution. In still other embodiments, the entity may be the merchant itself. 
     “Entity system” or “managing entity system” as used herein may refer to the computing systems, devices, software, applications, communications hardware, and/or other resources used by the entity to perform the functions as described herein. Accordingly, the entity system may comprise desktop computers, laptop computers, servers, Internet-of-Things (“IoT”) devices, networked terminals, mobile smartphones, smart devices (e.g., smart watches), network connections, and/or other types of computing systems or devices and/or peripherals along with their associated applications. 
     “User” as used herein may refer to an individual associated with an entity. As such, in some embodiments, the user may be an individual having past relationships, current relationships or potential future relationships with an entity. In some instances, a “user” is an individual who has a relationship with the entity, such as a customer or a prospective customer. Accordingly, as used herein the term “user device” or “mobile device” may refer to mobile phones, personal computing devices, tablet computers, wearable devices, and/or any portable electronic device capable of receiving and/or storing data therein and are owned, operated, or managed by a user. 
     “Transaction” or “resource transfer” as used herein may refer to any communication between a user and a third party merchant or individual to transfer funds for purchasing or selling of a product. A transaction may refer to a purchase of goods or services, a return of goods or services, a payment transaction, a credit transaction, or other interaction involving a user&#39;s account. In the context of a financial institution, a transaction may refer to one or more of: a sale of goods and/or services, initiating an automated teller machine (ATM) or online banking session, an account balance inquiry, a rewards transfer, an account money transfer or withdrawal, opening a bank application on a user&#39;s computer or mobile device, a user accessing their e-wallet, or any other interaction involving the user and/or the user&#39;s device that is detectable by the financial institution. A transaction may include one or more of the following: renting, selling, and/or leasing goods and/or services (e.g., groceries, stamps, tickets, DVDs, vending machine items, and the like); making payments to creditors (e.g., paying monthly bills; paying federal, state, and/or local taxes; and the like); sending remittances; loading money onto stored value cards (SVCs) and/or prepaid cards; donating to charities; and/or the like. 
     The system allows for use of a machine learning engine to calculate product replacement cycle times and therefore predict future resource transfers associated with said product replacements. Unlike a single merchant, a managing entity such as a financial institution may facilitate resource transfers between a single user and a large plurality of merchants. By collecting data associated with each resource transfer, the system may identify data trends and generate predictions of future resource transfers for specific products independently of the merchant at which the future transfer may take place. In this way, the system may benefit a number of merchants, as well as managing entities, by providing product/service insights and data analysis that would not be obtainable by any one entity operating alone. 
     The system may enable, based on a customer purchasing another product related to a first product and a time span of the replacement cycle passing, a managing entity to recommend that a merchant offer the customer a replacement for the product. As an example, the system may determine that after a customer purchases a coffee machine from a first merchant, the customer will continue to purchase coffee from that first merchant for twelve months, after which the customer stops purchasing coffee from the first merchant and starts purchasing coffee from a second merchant. The features and functions of the system will allow a managing entity to notify both the first and second merchant of this trend, enabling both merchants the ability to provide targeted advertisement and product recommendations to that customer at the appropriate time. Additionally or alternatively, the system may employ data from a variety of sources to further refine transaction predictions, including but not limited to location-based service data and data captured during user/managing entity interactions other than resource transfers, such as activation of reward offers. 
     In some embodiments of the system, the system may identify customer trends or patterns relating to combinations of product categories and subcategories, as is further described herein. For example, the system may determine that a customer who purchases a coffee maker, belonging to an exemplary category of kitchen appliances, may be likely to purchase a product from a secondary category, such as dishware. In this example, the system may prepare a report for a managing entity identifying this connection and the managing entity may distribute this information to one or more merchants which sell dishware. In addition, the system may generate predictions of future resource transfers based on the calculated lifecycle of one particular product. For example, the system may determine that the average lifecycle for a coffee maker from a particular merchant is three years. In this example, if a customer purchases that coffee maker on a specific date, the system may send a notification to the managing entity or merchant system on the same date three years later in order to alert the merchant that the customer is likely ready to purchase a replacement product. 
       FIG. 1  illustrates an operating environment  100  for the product replacement prediction system, in accordance with one embodiment of the present disclosure. As illustrated, the operating environment  100  may comprise a user  102  and/or a user device  104  in operative communication with one or more third party systems  400  (e.g., third party merchant systems). The operative communication may occur via a network  101  as depicted, or the user  102  may be physically present at a location associated with the third party, such as a computer terminal or point-of-sale device located within a storefront. The operating environment also includes a managing entity system  500 , a product replacement prediction system  200 , a database  300 , and/or other systems/devices not illustrated herein and connected via a network  101 . As such, the user  102  may complete a resource transfer with the third party system  400  by establishing operative communication channels between the user device  104 , the managing entity system  500 , and the third party system  400  via a wireless network  101 . In other embodiments, the user may complete a resource transfer with the third party system by interfacing directly with the third party system  400 , which may then establish operative communication with the managing entity system  500  via a wireless network in order to execute the resource transfer. 
     Typically, the product replacement prediction system  200  and the database  300  are in operative communication with the managing entity system  500 , via the network  101 , which may be the internet, an intranet or the like. In  FIG. 1 , the network  101  may include a local area network (LAN), a wide area network (WAN), a global area network (GAN), and/or near field communication (NFC) network. The network  101  may provide for wireline, wireless, or a combination of wireline and wireless communication between devices in the network. In some embodiments, the network  101  includes the Internet. In some embodiments, the network  101  may include a wireless telephone network. Furthermore, the network  101  may comprise wireless communication networks to establish wireless communication channels such as a contactless communication channel and a near field communication (NFC) channel (for example, in the instances where communication channels are established between the user device  104  and the third party system  400 ). In this regard, the wireless communication channel may further comprise near field communication (NFC), communication via radio waves, communication through the internet, communication via electromagnetic waves and the like. 
     The user device  104  may comprise a mobile communication device, such as a cellular telecommunications device (i.e., a smart phone or mobile phone), a computing device such as a laptop computer, a personal digital assistant (PDA), a mobile internet accessing device, or other mobile device including, but not limited to portable digital assistants (PDAs), pagers, mobile televisions, gaming devices, laptop computers, cameras, video recorders, audio/video player, radio, GPS devices, any combination of the aforementioned, or the like. The user device is described in greater detail with respect to  FIG. 3 . 
     The managing entity system  500  may comprise a communication module and memory not illustrated, and may be configured to establish operative communication channels with a third party system  400  and/or a user device  104  via a network  101 . The managing entity may comprise a user data repository which stores user account data. This data may be used by the managing entity to facilitate resource transfers between the user  102  or user device  104  and third party system  400 . In some embodiments, the managing entity system is in operative communication with the product replacement prediction system  200  and database  300  via a private communication channel. The private communication channel may be via a network  101  or the product replacement prediction system  200  and database  300  may be fully integrated within the managing entity system  500 . 
     As will be discussed in greater detail in  FIG. 4  and  FIG. 5 , the managing entity system  500  may communicate with the product replacement prediction system  200  in order to transmit data associated with resource transfers between a plurality of users  102  and a plurality of third party systems  400 . In some embodiments, the managing entity may utilize the features and functions of the product replacement prediction system to predict user behavior and anticipate future resource transfers. In other embodiments, the managing entity and/or the one or more third party systems may utilize the product replacement prediction system to react to identified trends in user behavior. 
       FIG. 2  illustrates a block diagram of the product replacement prediction system  200  associated with the operating environment  100 , in accordance with embodiments of the present invention. As illustrated in  FIG. 2 , the product replacement prediction system  200  may include a communication device  244 , a processing device  242 , and a memory device  250  having a prediction application/module  253 , a processing system application  254  and a processing system datastore  255  stored therein. As shown, the processing device  242  is operatively connected to and is configured to control and cause the communication device  244 , and the memory device  250  to perform one or more functions. In some embodiments, the prediction module  253  and/or the processing system application  254  comprises computer readable instructions that when executed by the processing device  242  cause the processing device  242  to perform one or more functions and/or transmit control instructions to the database  300 , the managing entity system  500 , and/or the communication device  244 . It will be understood that the prediction module  253  and/or the processing system application  254  may be executable to initiate, perform, complete, and/or facilitate one or more portions of any embodiments described and/or contemplated herein. The prediction module  253  may comprise executable instructions associated with data processing and analysis related to resource transfer data and may be embodied within the processing system application  254  in some instances. The product replacement prediction system  200  may be owned by, operated by and/or affiliated with the same managing entity that owns or operates the managing entity system  500 . In some embodiments, the product replacement prediction system  200  is fully integrated within the managing entity system  500 . 
     The prediction module  253  may further comprise a data analysis module  260 , a machine learning engine  261 , and a machine learning dataset(s)  262 . The data analysis module  260  may store instructions and/or data that may cause or enable the product replacement prediction system  200  to receive, store, and/or analyze data received by the managing entity system  500  or the database  300 . The data analysis module may process data to identify product categories and subcategories as will be further discussed in  FIG. 4 . The machine learning engine  261  and machine learning dataset(s)  262  may store instructions and/or data that cause or enable the product replacement prediction system  200  to determine, in real-time and based on received information, a predicted lifecycle or use cycle of a particular product or service. The machine learning dataset(s)  262  may contain data queried from database  300  and/or may be based on historical data relating to a particular product category, user, third party merchant, or the like. In some embodiments, the machine learning dataset(s)  262  may also contain data relating to user activity other than resource transfers as is further described herein. 
     The machine learning engine  261  may receive data from a plurality of sources and, using one or more machine learning algorithms, may generate one or more machine learning datasets  262 . Various machine learning algorithms may be used without departing from the invention, such as supervised learning algorithms, unsupervised learning algorithms, regression algorithms (e.g., linear regression, logistic regression, and the like), instance based algorithms (e.g., learning vector quantization, locally weighted learning, and the like), regularization algorithms (e.g., ridge regression, least-angle regression, and the like), decision tree algorithms, Bayesian algorithms, clustering algorithms, artificial neural network algorithms, and the like. Additional or alternative machine learning algorithms may be used without departing from the invention. 
     The machine learning datasets  262  may include machine learning data linking one or more details of a resource transfer (e.g. product category or subcategory, location purchased, merchant identifier, or the like) with a time and/or day or date of the transfer to identify one or more patterns or sequences of transfers that may aid in predicting one or more future transfers by the same user or by another user with a similar transaction history. For instance, the machine learning datasets  262  may include data linking a particular purchase of a given product on a particular date to an additional purchase of a second, related product on another particular date. Thus, this data may enable the product replacement prediction system  200  to predict a likely future transfer between a user and a third party. The data associated with a resource transfer may be supplemented by additional data obtained from an interaction between the user device  104  and the managing entity system  500 . For example, in some embodiments, the system may determine, based on location data obtained from a positioning system  320  of a user device  104 , that a user is in closer proximity to a first third party merchant than a second third party merchant. The product replacement prediction system  200  may weight that information accordingly to determine that the predicted resource transfer is more likely to occur at the first third party merchant than the second third party merchant. Additionally or alternatively, the system may determine, based on information obtained from a rewards application  352  of a user device  104 , that a user is interested in or intending to interact with a particular third party merchant. As with location-based data, the product replacement prediction system  200  may weight the information to determine that the predicted resource transfer is more likely to occur at a third party merchant if a user has indicated interest in that particular third party merchant. 
     The communication device  244  may generally include a modem, server, transceiver, and/or other devices for communicating with other devices on the network  101 . The communication device  244  may be a communication interface having one or more communication devices configured to communicate with one or more other devices on the network  101 , such as the product replacement prediction system  200 , the user device  104 , other processing systems, data systems, etc. 
     Additionally, referring to product replacement prediction system  200  illustrated in  FIG. 2 , the processing device  242  may generally refer to a device or combination of devices having circuitry used for implementing the communication and/or logic functions of the product replacement prediction system  200 . For example, the processing device  242  may include a control unit, a digital signal processor device, a microprocessor device, and various analog-to-digital converters, digital-to-analog converters, and other support circuits and/or combinations of the foregoing. Control and signal processing functions of the product replacement prediction system  200  may be allocated between these processing devices according to their respective capabilities. The processing device  242  may further include functionality to operate one or more software programs based on computer-executable program code  252  thereof, which may be stored in a memory device  250 , such as the processing system application  254  and the prediction module  253 . As the phrase is used herein, a processing device may be “configured to” perform a certain function in a variety of ways, including, for example, by having one or more general-purpose circuits perform the function by executing particular computer-executable program code embodied in computer-readable medium, and/or by having one or more application-specific circuits perform the function. The processing device  242  may be configured to use the network communication interface of the communication device  244  to transmit and/or receive data and/or commands to and/or from the other devices/systems connected to the network  101 . 
     The memory device  250  within the product replacement prediction system  200  may generally refer to a device or combination of devices that store one or more forms of computer-readable media for storing data and/or computer-executable program code/instructions. For example, the memory device  250  may include any computer memory that provides an actual or virtual space to temporarily or permanently store data and/or commands provided to the processing device  242  when it carries out its functions described herein. 
       FIG. 3  illustrates a block diagram of the user device associated with the product replacement prediction system, in accordance with embodiments of the present invention. The user device  104  may include a user mobile device or the like. A “mobile device”  104  may be any mobile communication device, such as a cellular telecommunications device (i.e., a cell phone or mobile phone), personal digital assistant (PDA), a mobile Internet accessing device, or another mobile device including, but not limited to portable digital assistants (PDAs), pagers, mobile televisions, gaming devices, laptop computers, cameras, video recorders, audio/video player, radio, GPS devices, any combination of the aforementioned devices. 
     The mobile device  104  may generally include a processing device or processor  310  communicably coupled to devices such as, a memory device  350 , user output devices  340  (for example, a user display or a speaker), user input devices  330  (such as a microphone, keypad, touchpad, touch screen, and the like), a communication device or network interface device  360 , a positioning system device  320 , such as a geo-positioning system device like a GPS device, an accelerometer, and the like, one or more chips, and the like. 
     The processor  310  may include functionality to operate one or more software programs or applications, which may be stored in the memory device  320 . For example, the processor  310  may be capable of operating applications such as a resource transfer application  351 , a rewards application or managing entity application  352 , or a web browser application. The resource transfer application may then allow the user device  104  to transmit and receive data and instructions to or from the third party system  300  and the rewards application  352  may allow the user device  104  to transmit and receive data to or from the managing entity system  500  (for example, via wireless communication or NFC channels), data and instructions to or from the processing system  200 , web content, such as, for example, location-based content and/or other web page content, according to a Wireless Application Protocol (WAP), Hypertext Transfer Protocol (HTTP), and/or the like. The rewards application  352  may allow the managing entity  500  to present the user  102  with a plurality of third party merchants for which the managing entity may be offering rewards opportunities, promotions, and/or the like for the user. 
     The processor  310  may be configured to use the communication device  360  to communicate with one or more devices on a network  101  such as, but not limited to the third party system  400  and the managing entity system  500 . In this regard the processor  310  may be configured to provide signals to and receive signals from the communication device  360 . The signals may include signaling information in accordance with the air interface standard of the applicable BLE standard, cellular system of the wireless telephone network and the like, that may be part of the network  101 . In this regard, the user device  104  may be configured to operate with one or more air interface standards, communication protocols, modulation types, and access types. By way of illustration, the user device  104  may be configured to operate in accordance with any of a number of first, second, third, and/or fourth-generation communication protocols and/or the like. For example, the mobile device  104  may be configured to operate in accordance with second-generation (2G) wireless communication protocols IS-136 (time division multiple access (TDMA)), GSM (global system for mobile communication), and/or IS-95 (code division multiple access (CDMA)), or with third-generation (3G) wireless communication protocols, such as Universal Mobile Telecommunications System (UMTS), CDMA2000, wideband CDMA (WCDMA) and/or time division-synchronous CDMA (TD-SCDMA), with fourth-generation (4G) wireless communication protocols, and/or the like. The user device  104  may also be configured to operate in accordance with non-cellular communication mechanisms, such as via a wireless local area network (WLAN) or other communication/data networks. The user device  104  may also be configured to operate in accordance Bluetooth® low energy, audio frequency, ultrasound frequency, or other communication/data networks. 
     The communication device  360  may also include a user activity interface presented in user output devices  340  in order to allow a user  102  to execute some or all of the processes described herein. The application interface may have the ability to connect to and communicate with an external data storage on a separate system within the network  101 . The user output devices  340  may include a display (e.g., a liquid crystal display (LCD) or the like) and a speaker  334  or other audio device, which are operatively coupled to the processor  310 . The user input devices  330 , which may allow the user device  104  to receive data from the user  102 , may include any of a number of devices allowing the user device  104  to receive data from a user  102 , such as a keypad, keyboard, touch-screen, touchpad, microphone, mouse, joystick, other pointer device, button, soft key, and/or other input device(s). 
     The user device  104  may also include a memory buffer, cache memory or temporary memory device  350  operatively coupled to the processor  310 . Typically, one or more applications  351  and  352 , are loaded into the temporarily memory during use. As used herein, memory may include any computer readable medium configured to store data, code, or other information. The memory device  350  may include volatile memory, such as volatile Random Access Memory (RAM) including a cache area for the temporary storage of data. The memory device  420  may also include non-volatile memory, which can be embedded and/or may be removable. The non-volatile memory may additionally or alternatively include an electrically erasable programmable read-only memory (EEPROM), flash memory or the like. 
     In some instances, various features and functions of the invention are described herein with respect to a “system.” In some instances, the system may refer to the product replacement prediction system  200  performing one or more steps described herein in conjunction with other devices and systems, either automatically based on executing computer readable instructions of the memory device  250 , or in response to receiving control instructions from the managing entity system  500 . In some instances, the system refers to the devices and systems on the operating environment  100  of  FIG. 1 . The features and functions of various embodiments of the invention are be described below in further detail. 
     It is understood that the servers, systems, and devices described herein illustrate one embodiment of the invention. It is further understood that one or more of the servers, systems, and devices can be combined in other embodiments and still function in the same or similar way as the embodiments described herein. 
       FIG. 4  is a high-level process flow diagram illustrating a process using the product replacement prediction system, in accordance with one embodiment of the present disclosure. The process begins at block  600 , where the system receives a data packet from a managing entity system  500  containing resource transfer information. The resource transfer information contained within the data packet may include but is not limited to data such as time, location, description of the product/service, resource amount, resource instrument or account used to complete the transfer, information identifying the merchant or third party, and/or information identifying the user or customer. In some embodiments the system may receive a unique data packet after the occurrence of an individual transfer, or in other embodiments the managing entity may choose to group data packets together and transfer the information after a predetermined amount of time, such as once per day. In some embodiments, the system may also receive data from the positioning system device  320  and the reward application  352  of the user device  104 . This data may include information such as user proximity to one or more third party systems, user selections of third party merchants for which the managing entity is offering sales encouragements, and other information which indicates a user&#39;s potential interest in a particular third party merchant. 
     The process may then continue to block  610 , wherein for each individual resource transfer, the system assigns a product/service category and/or subcategory to the resource transfer information set (e.g., via the data analysis module  260 ). In some embodiments, the categories may be assigned based on a calculated similarity score to one of a plurality of predetermined categories associated with the merchant identified in the resource transfer. 
     The process may then continue to block  620 , wherein the system may query the database  300  for datasets related to, in some embodiments, the same user and product category. In some embodiments, the system may query for a larger selection of users, such as users within a particular geographic area or the like. The system may then append the resource transfer dataset to the queried data  630  and process the combined data via the machine learning engine  261 . 
     In block  640  of  FIG. 4 , the output of the machine learning engine is a newly generated machine learning dataset  262 . As previously described, the newly generated machine learning dataset may be used to link a particular purchase of a given product on a particular date to an additional purchase of a second, related product on another particular date. This data may enable the system to predict a likely future transfer between a user and a third party as shown in block  650 . In block  660  of  FIG. 4 , the system may transmit a notification to the managing entity system, wherein the notification may contain predictions generated by the product replacement prediction system  200 . In some embodiments, the system may transmit this notification in the form of a regularly generated report. Additionally, or alternatively, the system may transmit this notification in response to a query from the managing entity. 
       FIG. 5  is a high-level process flow diagram illustrating a process using the product replacement prediction system, in accordance with another embodiment of the present disclosure. The process begins at block  700 , wherein the system predicts that a particular resource transfer will occur. As previously discussed, the system may utilize the machine learning engine  261  to determine that a user will purchase a product or service on a future date based on that user&#39;s historical data, the historical data of similar users, and/or the like. The system may then query the database  300  to determine a list of one or more merchants that may be involved in the predicted resource transfer, as shown in block  710 . In some embodiments, the system may query for all merchants which have sold the identified product/service in the past, merchants that the user has engaged with previously, merchants in a particular geographic location, and/or some combination of like information. In some embodiments, the system may use additional information from the positioning system device  320  and the reward application  352  of the user device  104  to identify merchants in close proximity to the user as well as merchants which the user has expressed interest in via the reward application  352 . The system may utilize the machine learning engine  261  to calculate the degree to which the additional information may influence the list of potential merchants and then weight the list according to the probability of each merchant being selected for the future transaction. 
     The process continues in block  720 , wherein the system may generate a message or data packet containing details of the predicted transfer. The message may contain information such as the product/service to be purchased, a predicted time and/or location of the transfer, the resource instrument and/or account to be utilized by the user, information identifying the user, and/or the list of potential merchants determined in block  710 . In some embodiments, the message may comprise multiple reports which the managing entity system may then distribute to individual third party systems, wherein each report contains only information identifying a single third party merchant. The process is completed in block  730 , wherein the system transmits that message to the managing entity system. 
     As will be appreciated by one of ordinary skill in the art, the present invention may be embodied as an apparatus (including, for example, a system, a machine, a device, a computer program product, and/or the like), as a method (including, for example, a business process, a computer-implemented process, and/or the like), or as any combination of the foregoing. Accordingly, embodiments of the present invention may take the form of an entirely software embodiment (including firmware, resident software, micro-code, and the like), an entirely hardware embodiment, or an embodiment combining software and hardware aspects that may generally be referred to herein as a “system.” Furthermore, embodiments of the present invention may take the form of a computer program product that includes a computer-readable storage medium having computer-executable program code portions stored therein. 
     As the phrase is used herein, a processor may be “configured to” perform a certain function in a variety of ways, including, for example, by having one or more general-purpose circuits perform the function by executing particular computer-executable program code embodied in computer-readable medium, and/or by having one or more application-specific circuits perform the function. 
     It will be understood that any suitable computer-readable medium may be utilized. The computer-readable medium may include, but is not limited to, a non-transitory computer-readable medium, such as a tangible electronic, magnetic, optical, infrared, electromagnetic, and/or semiconductor system, apparatus, and/or device. For example, in some embodiments, the non-transitory computer-readable medium includes a tangible medium such as a portable computer diskette, a hard disk, a random access memory (RAM), a read-only memory (ROM), an erasable programmable read-only memory (EEPROM or Flash memory), a compact disc read-only memory (CD-ROM), and/or some other tangible optical and/or magnetic storage device. In other embodiments of the present invention, however, the computer-readable medium may be transitory, such as a propagation signal including computer-executable program code portions embodied therein. 
     It will also be understood that one or more computer-executable program code portions for carrying out the specialized operations of the present invention may be required on the specialized computer include object-oriented, scripted, and/or unscripted programming languages, such as, for example, Java, Perl, Smalltalk, C++, SQL, Python, Objective C, and/or the like. In some embodiments, the one or more computer-executable program code portions for carrying out operations of embodiments of the present invention are written in conventional procedural programming languages, such as the “C” programming languages and/or similar programming languages. The computer program code may alternatively or additionally be written in one or more multi-paradigm programming languages, such as, for example, F#. 
     Embodiments of the present invention are described above with reference to flowcharts and/or block diagrams. It will be understood that steps of the processes described herein may be performed in orders different than those illustrated in the flowcharts. In other words, the processes represented by the blocks of a flowchart may, in some embodiments, be in performed in an order other that the order illustrated, may be combined or divided, or may be performed simultaneously. It will also be understood that the blocks of the block diagrams illustrated, in some embodiments, merely conceptual delineations between systems and one or more of the systems illustrated by a block in the block diagrams may be combined or share hardware and/or software with another one or more of the systems illustrated by a block in the block diagrams. Likewise, a device, system, apparatus, and/or the like may be made up of one or more devices, systems, apparatuses, and/or the like. For example, where a processor is illustrated or described herein, the processor may be made up of a plurality of microprocessors or other processing devices which may or may not be coupled to one another. Likewise, where a memory is illustrated or described herein, the memory may be made up of a plurality of memory devices which may or may not be coupled to one another. 
     It will also be understood that the one or more computer-executable program code portions may be stored in a transitory or non-transitory computer-readable medium (e.g., a memory, and the like) that can direct a computer and/or other programmable data processing apparatus to function in a particular manner, such that the computer-executable program code portions stored in the computer-readable medium produce an article of manufacture, including instruction mechanisms which implement the steps and/or functions specified in the flowchart(s) and/or block diagram block(s). 
     The one or more computer-executable program code portions may also be loaded onto a computer and/or other programmable data processing apparatus to cause a series of operational steps to be performed on the computer and/or other programmable apparatus. In some embodiments, this produces a computer-implemented process such that the one or more computer-executable program code portions which execute on the computer and/or other programmable apparatus provide operational steps to implement the steps specified in the flowchart(s) and/or the functions specified in the block diagram block(s). Alternatively, computer-implemented steps may be combined with operator and/or human-implemented steps in order to carry out an embodiment of the present invention. 
     While certain exemplary embodiments have been described and shown in the accompanying drawings, it is to be understood that such embodiments are merely illustrative of, and not restrictive on, the broad invention, and that this invention not be limited to the specific constructions and arrangements shown and described, since various other changes, combinations, omissions, modifications and substitutions, in addition to those set forth in the above paragraphs, are possible. Those skilled in the art will appreciate that various adaptations and modifications of the just described embodiments can be configured without departing from the scope and spirit of the invention. Therefore, it is to be understood that, within the scope of the appended claims, the invention may be practiced other than as specifically described herein.