TrueCar’s patented system efficiently matches users with vehicle sales data from various sources using a scoring engine. The system uses machine learning to generate confidence scores for potential matches, enhancing user experience and sales accuracy. GlobalData’s report on TrueCar gives a 360-degree view of the company including its patenting strategy. Buy the report here.
Smarter leaders trust GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
According to GlobalData’s company profile on TrueCar, Dynamic premium pricing was a key innovation area identified from patents. TrueCar's grant share as of May 2024 was 17%. Grant share is based on the ratio of number of grants to total number of patents.
Sophisticated vehicle data system for matching users with sales
A recently granted patent (Publication Number: US11966933B2) discloses a system and method for matching users with vehicle sales data using a combination of matching and scoring engines. The system includes a data system with a processor and data store storing user data and historical transaction data. A matching engine determines potential matches based on user data and transaction data, while a scoring engine uses machine learning to generate confidence scores for these matches. The system is trained using historical data sets and iteratively refines its training to improve accuracy. Additionally, a billing engine applies filtering rules based on confidence scores to approve potential matches.
Furthermore, the patent also covers a non-transitory computer-readable medium containing instructions for implementing the matching and scoring process. The medium facilitates obtaining user and transaction data, determining potential matches, and applying machine learning to generate confidence scores. Similar to the system, the method involves training the machine learning model using historical data sets and refining the training over time. The method also includes applying filtering rules based on confidence scores to approve potential matches. Overall, the patent aims to improve the accuracy and efficiency of matching users with vehicle sales data through a systematic and machine learning-driven approach.
To know more about GlobalData’s detailed insights on TrueCar, 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.
