Walmart had 78 patents in digitalization during Q1 2024. Walmart Inc’s patents filed in Q1 2024 focus on various innovative technologies such as predicting user lifetime value, real-time answer retrieval based on query type, automatic grouping of items from different suppliers, and third-party shopper exit verification system. These patents showcase Walmart‘s commitment to leveraging machine learning models and advanced algorithms to enhance customer experience and operational efficiency. GlobalData’s report on Walmart gives a 360-degree view of the company including its patenting strategy. Buy the report here.
Smarter leaders trust GlobalData
Walmart grant share with digitalization as a theme is 52% in Q1 2024. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Systems and methods for determining customer lifetime value (Patent ID: US20240104588A1)
The patent filed by Walmart Inc. describes a system that uses machine learning to predict the Lifetime Value (LTV) of users based on their interactions with various channels. The system segments users into different states, predicts their LTV, determines transition paths between states, and displays online advertisements to facilitate these transitions. The system aims to optimize user engagement and retention by targeting users with specific advertisements based on their predicted LTV.
Additionally, the system can calculate average LTV for different user states, display tailored advertisements to transition users between states, and update the machine learning model regularly to ensure accuracy. By applying LTV decay functions to predicted LTV values, the system can determine the most effective online advertisements for each user. Overall, the system leverages machine learning and user segmentation to enhance user engagement and retention through targeted advertising strategies based on predicted LTV values.
To know more about GlobalData’s detailed insights on Walmart, buy the report here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
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.
