Kalibrate recognized with fuel pricing optimization patent
Manchester, United Kingdom (January 9, 2023) – The US Patent Office (USPTO) has granted Kalibrate Technologies Limited a US patent, number US11494710B1 for the invention “Optimization constraint adaptation for long-term target achievement”.
The invention provides for constraint adaptation when optimizing and automating pricing processes. This invention will significantly improve the accuracy of long-term target setting and achievement in pricing strategies by enhancing Kalibrate Fuel Pricing’s optimization module.
In many situations, due to the amount of data needed to optimize fuel prices and the processing power this requires, insights are often out of date by the time they are unearthed. Kalibrate’s invention presents an approach to solve this problem by simplifying and speeding up the calculations into successive sequences so that time-related factors, such as costs, customer demand, and competitor pricing, can be properly accounted for.
The method invented by the Data Science team at Kalibrate will allow users to more accurately project long-term targets and ensure they are achieved as closely as possible – accounting for changes in, for example, competitor volume metrics. This invention will enable pricing teams to respond to changes in the market at near-real time automatically.
“I am pleased to see our innovative work is being recognized. This is also great news for Kalibrate as it demonstrates our dedication to bringing exciting new data science to our customers and their teams” said Rossmary Villegas, Head of Data Science, at Kalibrate.
Kalibrate Technologies Limited, with its origin from the University of Manchester Institute of Science and Technology (UMIST), has a portfolio of patents or patent applications covering critical IP product and solution domains. This gives Kalibrate recognition of uniqueness, patent protection in critical capability domains, and ultimately a competitive differentiation in the marketplace.
About Kalibrate Technologies Limited
Kalibrate is a technology company whose software platform provides microlocal data and insight for retail and service-based organizations of all sizes. Building on decades of experience, we aggregate and analyze location intelligence and pricing data in real time to help these organizations make better decisions. Through our platform and our consulting services, organizations can identify opportunities, understand risks and get to a point of certainty on strategic investments at both an international and local scale.
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