US Patent Issued to Tata Consultancy Services on Nov. 3 for "Method and system for computation of price elasticity for optimal pricing of products" (Indian Inventors)

ALEXANDRIA, Va., Nov. 3 -- United States Patent no. 12,784,071, issued on Nov. 3, was assigned to Tata Consultancy Services Ltd. (Mumbai, India).

"Method and system for computation of price elasticity for optimal pricing of products" was invented by Srividhya Sethuraman (Chennai, India), Uma Maheswari Govindaraju (Chennai, India) and Sharadha Ramanan (Chennai, India).

According to the abstract* released by the U.S. Patent & Trademark Office: "In retail industry, retailers need accurate price elasticity (PE) values to offer optimal prices for products to business constraints. Existing approaches provide approximate PE values leading to suboptimal price recommendations. This disclosure relates to method of computing PE values for optimal pr...