Charles Schwab has been granted a patent for a computer-implemented method that optimizes rule evaluation by selectively ordering rule elements based on their weights and probabilities. This approach minimizes the need for evaluating all elements, enhancing efficiency in processing multiple rules and actions. GlobalData’s report on Charles Schwab gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Charles Schwab, was a key innovation area identified from patents. Charles Schwab's grant share as of June 2024 was 68%. Grant share is based on the ratio of number of grants to total number of patents.
Rule evaluation optimization using weighted element selection
The patent US12045839B1 outlines a computer-implemented method and system for evaluating a set of rules to execute various actions. The method begins with the reception of multiple rules, each containing several elements and logical relationships defined by "and" and/or "or." The process involves identifying weights for these elements based on their interdependencies and the likelihood of their evaluation outcomes (true or false). The system selects elements according to their weights, calls a microservice over a network to evaluate the selected elements, and determines if the rules can be evaluated based on the results received. If a rule cannot be evaluated, the system selects another unselected element and repeats the evaluation process until all rules are assessed, ultimately performing actions based on the evaluations.
Additionally, the patent describes a non-transitory computer-readable medium that embodies program code to execute the aforementioned method. The system is designed to handle multiple accounts and can adjust the weights of elements based on their performance in evaluations. The claims also specify that the identification of weights can be influenced by the results of previous evaluations, allowing for a dynamic and responsive evaluation process. The method and system aim to enhance the efficiency and accuracy of rule evaluations in various applications, leveraging networked microservices for real-time data processing.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
