DYNAMIC OPTIMIZATION FOR JOBS

The disclosed embodiments provide a system for performing dynamic job bidding optimization. During operation, the system obtains historical data containing a time series of interactions with a job. Next, the system uses the historical data to calculate an initial price of a job based on a predicted...

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Bibliographic Details
Main Authors Swamy, Sumedha K, Pu, Wen, Geyik, Sahin C, Chen, Ying, Zhang, Yin, Liang, Keqing, Wang, Yu
Format Patent
LanguageEnglish
Published 02.07.2020
Subjects
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
ELECTRIC DIGITAL DATA PROCESSING
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Summary:The disclosed embodiments provide a system for performing dynamic job bidding optimization. During operation, the system obtains historical data containing a time series of interactions with a job. Next, the system uses the historical data to calculate an initial price of a job based on a predicted number of interactions with the job. The system then determines a first dynamic adjustment to the initial price that improves utilization of a budget for the job and a second dynamic adjustment to the initial price that improves a performance of the job. Finally, the system applies the first and second adjustments to the initial price to produce an updated price for the job and delivers the job within an online system based on the updated price.
Bibliography:Application Number: US201816232862