WO2023010163A1

WO2023010163A1 - System and method for providing real-time valuation of a product based upon environmental conditions

Info

Publication number: WO2023010163A1
Application number: PCT/AU2022/050826
Authority: WO
Inventors: Benjamin Allan Brogan; Katherine Linda BROGAN; Daniel Noel Posch; Tracey POSCH; Keiran Kevin O'REILLY; Amy Louisa O'REILLY
Original assignee: O'Bropo Pty Ltd
Priority date: 2021-08-02
Filing date: 2022-08-02
Publication date: 2023-02-09
Also published as: AU2022321040A1

Abstract

The present invention relates to a computer-implemented method for providing a valuation of a product taking into account environmental conditions to which the product has been subjected, the method including receiving, by one or more processors, data from one or more environmental sensing devices or data bases associated with a product, the data pertaining to one or more environmental conditions experienced by the product, or a part or ingredient thereof, since production and/or procurement of the product, storing, by the one or more processors, the data relating to the product pertaining to the one or more environmental conditions; comparing, by the one or more processors, the data relating to the one or more environmental conditions experienced by the product with a database containing a data structure storing data regarding products and/or ingredients along with the effects of particular environmental conditions upon the products and/or ingredients, to determine one or more effects on the product, or a part or ingredient thereof, determining, by the one or more processors, a valuation of the product based upon the one or more effects of the environmental conditions experienced by the product, or a part or ingredient thereof,and providing, by the one or more processors, the valuation of the product in response to a user request.

Description

SYSTEM AND METHOD FOR PROVIDING REAL-TIME VALUATION OF A PRODUCT BASED UPON ENVIRONMENTAL CONDITIONS

FIELD OF THE INVENTION

[0001] The present invention relates to a system and method of providing a real-time valuation of a product that takes into account environmental conditions. The invention is particularly useful for taking into account the conditions to which a product has been subjected from a date of manufacture and/or procurement.

BACKGROUND OF THE INVENTION

[0002] Consumers are regularly confronted with making purchase decisions in which they compare two or more products and select one product over another or others, including online and in-store. Such decisions are typically made based on the user having already experienced a particular product, a third party review of the product, the price of the product, or based on some other known product quality or characteristic. However, even in circumstances where a user has already experienced a product, or may have confidence in the product based upon a known quality or characteristic of the product, there is always a possibility that a particular product purchased by the consumer will not meet the consumer’s expectations.

[0003] For example, a consumer of wine may have faith that a particular wine from a particular winemaker will meet their taste and texture expectations. However, there may be instances in which the same wine from the same winemaker will taste differently depending upon the particular bottle selected for purchase due to the bottle experiencing different environmental conditions subsequent to the winemaking process as compared with the same or a different wine in another bottle. Since many products such as bottled wine are not able to be opened and tasted prior to purchase, what can ensue is disappointment on the part of the consumer since a particular wine purchase may not meet their expectations based on a previous experience or some other factor such as a third party review. Based on a single negative experience, consumers can elect to refrain from purchasing the same product in future. [0004] The “market value” of a product is an indicator of the value of a product that is available for purchase based upon the price that the market is prepared to pay for the product. However, in view of the above reasons, there is a growing need for consumers to have access to more detailed information regarding individual products they are considering for purchase irrespective of known factors such as market value, product ingredients, product manufacturer, product reviews, and even the consumer’s own previous experience with the same product. In this regard, there is a need to provide consumers with information regarding environmental factors that may have affected a product, and hence the valuation of the product, that takes into account environmental factors to which the particular product has been subjected throughout its lifetime. Whilst there are products that are minimally affected by environmental conditions, there are many products such as fruit, seafood, wine and cheese that may be significantly affected by the environmental conditions to which the product is subjected during manufacture, storage and transport to a consumer.

[0005] The computer-implemented system and method of the present invention seeks to ameliorate the above identified problems or at least provide an alternative solution to same.

[0006] The reference to any prior art in this specification is not, and should not be taken as, an acknowledgement or any suggestion, that the prior art forms part of the common general knowledge.

SUMMARY OF THE INVENTION

[0007] In one aspect, the present invention provides a computer-implemented method for providing a valuation of a product taking into account environmental conditions to which the product has been subjected, the method including receiving, by one or more processors, data from one or more environmental sensing devices or databases associated with a product, the data pertaining to one or more environmental conditions experienced by the product, or a part or ingredient thereof, since production and/or procurement of the product, storing, by the one or more processors, the data relating to the product pertaining to the one or more environmental conditions; comparing, by the one or more processors, the data relating to the one or more environmental conditions experienced by the product with a database containing a data structure storing data regarding products and/or ingredients along with the effects of particular environmental conditions upon the products and/or ingredients, to determine one or more effects on the product, or a part or ingredient thereof, , determining, by the one or more processors, a valuation of the product based upon the one or more effects of the environmental conditions experienced by the product, or a part or ingredient thereof, and providing, by the one or more processors, the valuation of the product in response to a user request.

[0008] It is to be understood that reference to production and/or procurement is not intended to limit the scope of the present invention to manufacture, but may include any type of production and may apply to a part or ingredient of the end product. For example, production of a particular ingredient may be by chemical reaction rather than any particular manufacturing process. According to one example, wine is created by fermentation of grape juice (among other steps) and one of the environmental conditions that affect the resulting wine and hence the valuation of the wine once bottled may include the temperature and humidity of the environment which the bottled wine experiences once transported and stored for sale.

[0009] In an embodiment, each of the one or more effects on the product are allocated a score indicative of the extent to which the one or more effects is likely to adversely impact a quality and/or characteristic of the product.

[0010] In an embodiment, determination of the valuation is based upon one or more artificial intelligence learning algorithms which includes one or more of the following as input: data relating to the one or more effects; the scores associated with each effect; a market value of the same or a similar product, or a product in the same category, at a point in time where the market value is available.

[0011] The environmental conditions experienced by a product are likely different for each step in the manufacture and supply process. During the process of manufacturing and supplying a product, there may be multiple steps involved and each step is likely to involve different environmental conditions that may affect the value of the resulting product at any one time. For example, in the instance of wine, environmental conditions during the growing stage are likely to be different to the environmental conditions at the bottling and supply stage. During the growing stage, factors affecting the quality and hence value of the resulting wine may include the quality of soil, weather conditions including average temperature and humidity, sunlight, wind and rain exposure. During the fermentation process, factors affecting value may include the quality of air. During the aging process, the factors affecting value may include the properties of the container (e.g. barrel) in which the wine is being stored. During the bottling and supply process, factors that may affect the quality of the wine and hence its value may include the type of fastener used to seal the bottle (e.g. cork) and the means/duration of transport. All of the abovedescribed processes are generally controlled by the manufacturer to ensure a product of high quality. However, manufacturers and harvesters do not have a comparable ability to control the environmental conditions that their products experience during transport and storage of the products to consumers. Even after a product is sold, environmental factors may continue to affect the value of the product, including for example the temperature and humidity of the location in which a bottle of wine is stored.

[0012] In an embodiment, the environmental conditions include any one or more of: temperature, humidity, light exposure, wind exposure, rain exposure, location, and properties of surrounding matter. [0013] For example, if matter that surrounds the product is gas (e.g. air), then a property of the gas may relate to air quality or oxygen levels for example. If the matter that surrounds the product is liquid, then a property of the liquid may relate to a liquid type (e.g. water, oil, etc). If the matter that surrounds the product is solid (e.g. soil), then a property of the solid may include soil type (e.g. soft, clay, etc).

[0014] In an embodiment, receiving data relating to the product includes retrieving data from one or more of the following: one or more sensing devices used to directly monitor the environmental conditions to which the product is subjected, a database in which historical data obtained from one or more sensing devices used to monitor the environmental conditions to which the product has been subjected is stored, and a database in which historical data obtained from one or more sensing devices used to monitor the environmental conditions to which a similar product, or a product in the same product category, has been subjected is stored.

[0015] In an embodiment, the one or more sensing devices may transmit data to a data recordal and transmission device attached to the product, or packaging associated with the product, configured to receive the data and transmit same to one or more remote databases and/or servers.

[0016] In an embodiment, the one or more sensing devices and the data recordal and transmission device form part of an Internet of Things (loT) infrastructure such that any sensing device within sufficient vicinity of the data recordal and transmission device may be requested to transmit sensor data regarding the one or more environmental conditions to the recordal and transmission device.

[0017] Accordingly, data may be retrieved from one or a combination of sensor and/or database sources, and used to facilitate the determination of a valuation. In the instance of wine, if a valuation is sought at the time the wine is ageing inside barrels, for example, then the data that is retrieved may be limited to sensing or similar devices located in the barrel at the time the valuation is requested (i.e. one or more sensing devices used to directly monitor the environmental conditions to which the product is subjected), as well as a database that stores historical data relating to environmental conditions to which the wine (or grapes) were subjected prior to the ageing process (i.e. a database in which historical data obtained from one or more sensing devices used to monitor the environmental conditions to which the product has been subjected is stored).

[0018] Where a valuation is sought in relation to a product that has already undergone multiple stages of manufacture, e.g. at the time a wine is already bottled and available for purchase in store, then more data is likely to be available to facilitate a valuation. For example, when a bottle of wine is available for purchase, the wine has already undergone multiple processes during which data has been retrieved, including during grape growing, crushing, fermentation, ageing, bottling, transportation and storage.

[0019] Furthermore, the intervals at which data relating to environmental factors is recorded and/or stored will also have an effect on the quality of the retrieved data and hence the accuracy of the determined valuation of the product.

[0020] Where data relating to a particular stage of manufacture is not available (e.g. data relating to the ageing process), then data relating to a different product in the same or a similar product category may be retrieved and utilised instead. For example, where data relating to the ageing process was not recorded or is unavailable for any reason, the ageing-related data could be retrieved in relation to the same wine that has undergone the same initial processes, including ageing, but which is now present in a different bottle sold by a different vendor.

[0021] In an embodiment, at one or more manufacturing stages, the product is allocated an identifier, such as unique serial number, to enable the product to be identified and to enable products within the same or a similar category to be identified.

[0022] In an embodiment, the user request for valuation of a product includes the identifier allocated to the product. For example, when a wine bottle is available for purchase, it may display an allocated unique serial number, and in order to determine a valuation of the wine bottle the user may be prompted to enter the unique serial number.

[0023] The identifier allocated to the product may be updated or changed during different manufacturing stages. For example, when wine is still undergoing ageing, there may be an identifier allocated to the batch of wine inside a particular barrel. When the same wine is subsequently bottled, new or updated identifiers may be allocated to individual bottles. In this way, at each stage of the process, data relating to the product’s origin and relevant data relating to environmental conditions to which the product was subjected, is more easily retrievable. Furthermore, different products can be more easily categorised.

[0024] Different products within the same or a similar category may include one or more of different products that originated from the same batch, and different products that have undergone at least one common manufacturing process.

[0025] In an embodiment, providing the valuation of a product in response to a user request includes displaying one or more of information relating to the one or more processes the product has undergone, e.g. manufacturing stage, distribution, warehousing, transport, storage, a current process associated with the product, e.g. storage, and information summarising the data retrieved during one or more of the processes the product has experienced.

[0026] In an embodiment, the user may be presented with an alert or notification as a warning by the graphical user interface in the event the product was subjected to an adverse environmental condition during one or more processes that substantially adversely affects the valuation of the product.

[0027] In a second aspect, the present invention provides a system for providing a valuation of a product taking into account environmental conditions to which the product has been subjected, the system including a database that contains a data structure, and one or more processors operable to receive data from one or more environmental sensing devices or databases associated with a product, the data pertaining to one or more environmental conditions experienced by the product, or a part or ingredient thereof, since production and/or procurement of the product, store the data relating to the product, or a part or ingredient thereof, pertaining to the one or more environmental conditions, compare the data relating to the one or more environmental conditions experienced by the product, or a part or ingredient thereof, with a database containing a data structure storing data regarding products and/or ingredients and effects of particular environmental conditions upon the products and/or ingredients, to determine one or more effects on the product, or a part or ingredient thereof, determine a valuation of the product based upon the one or more effects of the environmental conditions experienced by the product, or a part or ingredient thereof, and provide the valuation of the product in response to a user request.

[0028] In a third aspect, the present invention provides a computer-readable medium having a plurality of instructions executable by one or more processors to receive data from one or more environmental sensing devices or databases associated with a product, the data pertaining to one or more environmental conditions experienced by the product, or a part or ingredient thereof, since production and/or procurement of the product, store the data relating to the product, or a part or ingredient thereof, pertaining to the one or more environmental conditions, compare the data relating to the one or more environmental conditions experienced by the product, or a part or ingredient thereof, with a database containing a data structure storing data regarding products and/or ingredients and effects of particular environmental conditions upon the products and/or ingredients, to determine one or more effects on the product, or a part or ingredient thereof, determine a valuation of the product based upon the one or more effects of the environmental conditions experienced by the product, or a part or ingredient thereof, and provide the valuation of the product in response to a user request.

BRIEF DESCRIPTION OF THE DRAWINGS

[0029] Features of the present disclosure are illustrated by way of example and not limited in the following Figure(s), in which like numerals indicate like elements, in which:

[0030] Figure 1 provides an overview of the system according to an embodiment of the invention, detailing the interaction between various system components.

[0031] Figure 2 illustrates an exemplary diagram associated with the server component of the system illustrated in Figure 1 , including a means by which data from one or more environmental sensors associated with a product may be received.

[0032] Figure 3 illustrates an exemplary flow diagram of a process that enables data from one or more environmental sensors associated with a product, since production and/or procurement of the product, may be received and stored.

[0033] Figure 4 illustrates an exemplary flow diagram of a process that enables a user to view a computer-generated evaluation of the product based upon one or more effects of the environmental conditions experienced by the product or a part of ingredient thereof since its production and/or procurement.

[0034] Figure 5 illustrates an exemplary flow diagram of a process that enables the integration of product valuations and associated data into a third party platform.

DETAILED DESCRIPTION OF EMBODIMENT(S) OF THE INVENTION

[0001] For simplicity and illustrative purposes, the present disclosure is described by referring to embodiment(s) thereof. In the following description, numerous specific details are described to provide a better understanding of the present disclosure. It will be readily apparent however, that the current disclosure may be practiced without limitation to the specific details. In other instances, some methods and structures have not been described in detail to avoid obscuring the present disclosure.

[0002] The present invention relates to at least a computer-implemented system and method for providing a valuation of a product (1 10), taking into account environmental conditions the product (including parts and/or ingredients thereof) has experienced. The system and method provide a platform that hosts a computer executable software application (220) wherein the application is accessible by users (210) registered to use the application (220). In particular, the system utilises a central server (20) in communication with data communication devices associated with each user (210).

[0003] The central server (20) maintains one or more processors and one or more databases for performing functions, including receiving and storing data that has been retrieved from one or more environmental sensors (170) or other sensing means, and/or from one or more databases, the data relating to one or more environmental conditions experienced by the product (1 10) or parts or ingredients thereof. The environmental conditions experienced by the product may include, for example, temperature, humidity, light exposure, wind exposure, rain exposure, location, and the properties of any surrounding medium. The data relating to the one or more environmental conditions experienced by the product is then compared with a database containing a data structure which stores data regarding products and/or ingredients, and effects of particular environmental conditions upon products (or parts or ingredients thereof), to determine one or more effects the environmental conditions have had on the product (1 10). Based upon the determined one or more effects on the product, a value determination algorithm may be used to generate a valuation of the product which may be provided in response to a user request.

[0004] It will be appreciated that the matter surrounding a particular product constitutes an example of an environmental condition that may impact upon the quality and therefore value of the product, along with other environmental conditions such as temperature, humidity, light exposure, wind exposure, rain exposure, and location. Examples of the properties of matter surrounding a product that may affect quality may include the air quality or oxygen level of surrounding gas, the type of liquid (e.g. water, oil etc.) of liquid surrounding a product, and the type of solid material (e.g. soft soil, clay soil, etc.) surrounding a product. The surrounding solid, liquid or gas will obviously be different depending upon the product (or component, ingredient, etc) in question and the particular life cycle stage.

[0005] It is to be understood that reference herein to “environmental sensors” utilised to capture environmental conditions experienced by a product need not necessarily be limited to “sensing devices” perse. For example, whilst RFID tags (170) and the like may be suitable for detecting environmental conditions surrounding a bottle of wine, such sensing devices may not necessarily be appropriate for use in other environments. Accordingly, reference to “environmental sensors” or “sending devices” is intended to include within its scope any means by which data relating to environmental conditions to which a product is subjected may be detected or retrieved. Such data may also be retrieved from other sources, including any available database in which data obtained from one or more sensing devices used to monitor the environmental conditions to which a product has been subjected is stored. An example of such a database includes manufacturing and warehousing computer systems (130).

[0006] The data that is retrieved may in some instances relate to a different product in the same product category. For example, when data relating to a particular product is not available for the purpose of generating a valuation for the product, data relating to one or more different products in the same product category may be retrieved and utilised for the purpose of generating the valuation.

[0007] In summary, the method of data capture and transmission of environmental conditions to the server (20) may vary depending upon the particular product and the particular life cycle stage of the product. These may include devices attached to products and packaging such as temperature sensors and RFID chips, sophisticated manufacturing and warehousing systems that directly upload data, smart products such as loT connected smart fridges or cellar equipment that captures and transmits data, or manual capture and data entry. The veracity of the collection method and its susceptibility to error or fraud may also be taken into consideration by the value determination algorithm when establishing the value of a product.

[0008] The skilled addressee will appreciate that the platform aims to assist purchasers to assess and compare the value of products that have been subjected to different environmental conditions, such as wine, beer and spirits. Potential purchasers may view the environmental conditions associated with, for example, the storage and handling of available products, and determine if the quality and/or value of the product has been compromised.

[0009] Figure 1 is divided into segments which are further expanded into subsequent Figures 2 to 5. In particular, segment 200 of Figure 1 shows the server component (20) with which the software application (220) operates on data communication devices (or user devices) of each user (210) is configured to communicate. It will be apparent to skilled readers that the software application (220) may be a mobile application or a web application and that, similarly, the data communication device utilised by each user (210) may be a mobile device or computer device. The server component (20) is additionally detailed in Figure 2, and the skilled person will appreciate that the steps described herein, as executed by the user devices, may be facilitated by the software application (220) operating in each device.

[0010] As an alternative, or in addition to, steps described herein being performed by the server (20) the steps described may be performed by one or more processors associated with the user devices. Different arrangements are possible in this regard, but according to a particular implementation of the invention, the server (20) is programmed to provide all of the functions described herein where such functions cannot be provided locally on the user devices.

[0011] Segment 300 of Figure 1 depicts how data relating to environmental conditions to which a product (1 10) has been subjected may be collected from one or more sensors (170), as further detailed in Figure 3. Segment 400 of Figure 1 illustrates the use of the software application (220) by a user (210) to view information relating to the environmental conditions to which a particular product has been subjected as well as the resulting valuation of the product, as detailed in Figure 4. Finally, Segment 500 of Figure 1 illustrates the integration of such data into a selling platform (240) such as an auction site, as further detailed in Figure 5. [0012] As mentioned above, Figure 2 shows in greater detail the segment (200) of Figure 1. In particular, Figure 2 shows the server component (20) which includes infrastructure (10) in which the platform of the present invention operates. The infrastructure (10) may be local or cloud-based. The central server (20) may operate one or more computer processors and maintain one or more databases to enable the following functionality and/or storage:

• Database (30) containing a data structure storing data relating to products (including parts or ingredients thereof) and the effects of particular environmental conditions upon the products (or their parts or ingredients);

• Product register (40) storing data relating to products including any identifiers associated with the product (such as a unique serial number) to enable the product to be identified and to enable products within the same or a similar category to be identified;

• Environmental condition data repository (50) storing data relating to the environmental conditions to which each product stored in register (50) has been subjected; and

• Value determination functionality (60) for predicting, using the value determination algorithm, the value of a product based upon comparing data (50) relating to the one or more environmental conditions experienced by the product (40) with database (30) containing the data structure storing data regarding products and the effects of particular environmental conditions upon the products.

[0013] Each of the determined one or more effects may be allocated a score indicative of the extent to which the one or more effects is likely to adversely impact a quality and/or characteristic of the product (or part of ingredient thereof), and the score may be taken into account when determining the valuation. In this regard, determination of the valuation may be based upon one or more artificial learning algorithms which may include, as input, data relating to the one or more effects, the scores associated with each effect, and/or a market value of the same product or a similar product in a similar category (captured at a point in time when the market value is available). In this way, the algorithm may be configured to cause products that have experienced better environmental conditions (e.g. a history of good storage conditions) to be valued higher than products that have experienced conditions that impact adversely upon quality.

[0014] Figure 2 also depicts that server (20) is configured to enable communication (80) with a means (70) by which environmental conditions to which a product has been subjected may be received, e.g. an application programming interface (API), or any similar technology configured to receive such data from a range of different systems or devices. Also shown in Figure 2 is the communication (90) and (100) between the server (20) and selling platforms (240) and the software applications (220) operating on each user device, respectively. The software application (220) operating on each user device may be installed by downloading the application from an application store, and each user (210) may create an account using the application and the account information may be stored in an account register operated by the server (20). The user account register may capture information sufficient to enable the user (210) to be correctly identified.

[0015] The software (220) may enable each user to create and maintain a user profile, and may present an interface that allows the user to add/edit details. The user profile may include information including personal details such as the user’s name, age, address, etc. and upon uploading sufficient information, the user will be successfully registered such that the user becomes a registered user who may then utilise the software (220) to receive valuations with respect to particular products, as shown in Figures 3 and 4.

[0016] Figure 3 demonstrates an exemplary process of collecting data relating to environmental conditions to which a product (1 10) (in the embodiment shown, a particular wine) has been subjected across various stages of its production. For example, in the embodiment shown, the wine product (1 10) having a serial number (120) has data associated therewith that has been collected at different stages of the wine production and procurement, including when the wine was first produced (140) from grapes, when the wine was subsequently bottled and stored (150), when the bottle was transported (160) and cellared (180) in a retail outlet, and when the wine bottle was eventually procured and refrigerated (190) prior to consumption. It will be appreciated that data may be collected at each of these stages. In this regard, Figure 3 illustrates that in the initial manufacturing, bottling and warehousing stage, data may be collected from associated computer systems (130) that record and monitor products that are produced and stored, and that in the transport and cellaring stage, data may be retrieved from a sensor (170) (such as an RFID tag) that captures environmental condition data surrounding the bottle. Finally, at the refrigeration stage prior to consumption, data may be collected once again, this time utilising the functionality of an internet of things (IOT) connected refrigerator (190) for example which is capable of collecting and transmitting environmental storage data relating to products stored inside.

[0017] The skilled addressee will appreciate that the environmental conditions experienced by a product (or parts or ingredients thereof) are likely to be different for each step in the production and procurement process, hence why it is important to capture data at each step or at least regularly throughout the production and procurement process. Each step is likely to involve different environmental conditions that may affect the value of the resulting product.

[0018] There may be additional steps that are relevant but which are not shown in Figure 3, for example, the environmental conditions that were present during the grape growing stage, which are likely to be different from the environmental conditions detected at the production and bottling stage. During the growing stage, factors affecting the quality and hence value of the resulting wine may include the quality of soil, weather conditions including average temperature and humidity, sunlight, wind and rain exposure. During the fermentation process, factors affecting value may include the quality of air. During the ageing process, the factors affecting the resultant value may include the properties of the container (e.g. barrel) in which the wine is being stored. During the bottling and supply process factors that may affect the quality of the wine and hence its value may include the type of fastener used to seal the bottle (e.g. cork) and the means/duration of transport. Each of the above described processes are generally controlled by the manufacturer to ensure a product of high quality. However, manufacturers and harvesters do not have a comparable ability to control the environmental conditions that their products experience during transport and storage of the products to consumers. Therefore, even after a product is sold (procured by a consumer), environmental factors may continue to affect the value of the product, including for example, the temperature and humidity of the location in which a bottle of wine is subsequently stored.

[0019] A user (210) may request evaluation at any stage of the product life cycle, and need not necessarily wait until the product is available for purchase. In this regard, if a user (210) is aware that a particular wine vintage is being produced by a wine maker, the platform may be utilised to assess a value of the particular wine during the production stage, i.e. well before the wine is bottled and made available for purchase.

[0020] Where a valuation is sought in relation to a product that has already undergone multiple stages of manufacture, e.g. at the time a wine is already bottled and available for purchase in store, then more data is likely to be available to facilitate a valuation. Furthermore, the intervals at which data relating to environmental factors is recorded and/or stored will also have an effect on the quality of the retrieved data and hence the accuracy of the determined valuation of the product.

[0021] Figure 4 illustrates an example interface (230) generated using software application (220) in which users (210) may view information (230) relating to individual products (1 10) by entering, for example, the serial number (120) or other identifier. For example, when a wine bottle is available for purchase, it may display an allocated unique serial number (120), and in order to determine a valuation of the wine bottle the user (210) may be prompted to enter the unique serial number or capture an image of the serial number for automatic processing by application (220) and/or server (20).

[0022] The identifier allocated to the product may be updated or changed during different manufacturing stages. For example, when wine is still undergoing aging, there may be an identifier allocated to the batch of wine inside a particular barrel. When the same wine is subsequently bottled, new or updated identifiers may be allocated to individual bottles. In this way, at each stage of the process, data relating to the origin of the product (or parts or ingredients thereof) and relevant data relating to environmental conditions to which the product (or its parts or ingredients) were subjected, is more easily retrievable. This allocation of identifiers at different stages also facilitates the categorisation of products since different products may be more easily categorised, e.g. based upon different wines originating from the same batch, or different products that have undergone a common manufacturing process.

[0023] The type of information (230) that may be displayed to a user (210), in addition to the value prediction, includes information relating to the process(es) the product (or parts or ingredients thereof) have undergone (e.g. manufacturing, distribution, warehousing, transport, storage), a real-time indication of the current process which the product is undergoing (e.g. storage), and information summarising the data retrieved during one or more of the processes. In this way, users may be able to review the storage condition history of a product, for example, and receive an assessment of the product’s value based upon the storage conditions. Users (210) can also register to be notified or alerted in the event that the application (220) identifies a change in the storage conditions that may impact upon the value of a particular product being monitored by the user (210).

[0024] Figure 5 shows in greater detail area 500 from Figure 1 and, in particular, the integration of the collected data into a selling platform, such as an auction website (240), to enable the products to be sold to consumers. Selling platforms such as auction sites may be licensed to integrate such information into their sites, and this allows potential purchasers to view the generated value of products they are considering for purchase, including environmental conditions to which the product (or part of ingredient thereof) has experienced throughout its production and procurement lifecycle.

[0025] As used herein, the term “central server”, “computer”, “computing system” or similar terms may include any processor-based or microprocessor-based system including systems using microcontrollers, reduced instruction set computers (RISC), application specific integrated circuits (ASICs), logic circuits, and any other circuit or processor including hardware, software, or a combination thereof capable of executing the functions described herein. Such are exemplary only, and are thus not intended to limit in any way the definition and/or meaning of such terms.

[0026] The one or more processors as described herein are configured to execute a set of instructions that are stored in one or more data storage units or elements (such as one or more memories), in order to process data. For example, the one or more processors may include or be coupled to one or more memories. The data storage units may also store data or other information as desired or needed. The data storage units may be in the form of an information source or a physical memory element within a processing machine.

[0027] The set of instructions may include various commands that instruct the one or more processors to perform specific operations such as the methods and processes of the various embodiments of the subject matter described herein. The set of instructions may be in the form of a software program. The software may be in various forms such as system software or application software. Further, the software may be in the form of a collection of separate programs, a program subset within a larger program or a portion of a program. The software may also include modular programming in the form of object- oriented programming. The processing of input data by the processing machine may be in response to user commands, or in response to results of previous processing, or in response to a request made by another processing machine.

[0028] The diagrams of embodiments herein illustrate one or more control or processing units. It is to be understood that the processing or control units may represent circuits, circuitry, or portions thereof that may be implemented as hardware with associated instructions (e.g., software stored on a tangible and non-transitory computer readable storage medium, such as a computer hard drive, ROM, RAM, or the like) that perform the operations described herein. The hardware may include state machine circuitry hardwired to perform the functions described herein. Optionally, the hardware may include electronic circuits that include and/or are connected to one or more logicbased devices, such as microprocessors, processors, controllers, or the like.

[0029] Optionally, the one or more processors may represent processing circuitry such as one or more of a field programmable gate array (FPGA), application specific integrated circuit (ASIC), microprocessor(s), and/or the like. The circuits in various embodiments may be configured to execute one or more algorithms to perform functions described herein. The one or more algorithms may include aspects of embodiments disclosed herein, whether or not expressly identified in the figures or a described method.

[0030] Throughout this specification and claims which follow, unless the context requires otherwise, the word “comprise”, and variations such as “comprises” and “comprising”, will be understood to mean the inclusion of a stated feature or step, or group of features or steps, but not the exclusion of any other feature or step, or group of features or steps.

[0031] The reference to any prior art in this specification is not, and should not be taken as, an acknowledgement or any suggestion that the prior art forms part of the common general knowledge.

Claims

The claims defining the invention are as follows:

1 . A computer-implemented method for providing a valuation of a product taking into account environmental conditions to which the product has been subjected, the method including: receiving, by one or more processors, data from one or more environmental sensing devices or databases associated with a product, the data pertaining to one or more environmental conditions experienced by the product, or a part or ingredient thereof, during production and/or since procurement of the product; storing, by the one or more processors, the data relating to the product, or a part or ingredient thereof, pertaining to the one or more environmental conditions; comparing, by the one or more processors, the data relating to the one or more environmental conditions experienced by the product, or a part or ingredient thereof, with a database containing a data structure storing data regarding products and/or ingredients along with the effects of particular environmental conditions upon the products and/or ingredients, to determine one or more effects on the product, or a part or ingredient, thereof; determining, by the one or more processors, a valuation of the product based upon the one or more effects of the environmental conditions experienced by the product, or a part or ingredient thereof; and providing, by the one or more processors, the valuation of the product in response to a user request.

2. A method according to claim 1 , wherein each of the one or more effects on the product, or a part or ingredient thereof, are allocated a score indicative of the extent to which the one or more effects is likely to adversely impact a quality and/or characteristic of the product.

3. A method according to claim 2, wherein the determination of the valuation is based upon one or more artificial intelligence learning algorithms which includes any one or more of the following as input: data relating to the one or more effects; the score associated with each of the one or more effects; a market value of the same or a similar product, or a product in the same category, at a point in time where the market value is available.

4. A method according to any one of the preceding claims, wherein the environmental conditions include any one or more of: temperature, humidity, light exposure, wind exposure, rain exposure, location, and properties of surrounding matter.

5. A method according to any one of the preceding claims, wherein receiving data relating to the product includes retrieving data from any one or more of the following: the one or more sensing devices used to directly monitor the environmental conditions to which the product is subjected, a database in which historical data obtained from the one or more sensing devices used to monitor the environmental conditions to which the product has been subjected is stored, and a database in which historical data obtained from one or more other sensing devices used to monitor the environmental conditions to which a similar product, or a product in the same category, has been subjected is stored.

6. A method according to any one of the preceding claims, wherein the one or more sensing devices transmit data to a data recordal and transmission device attached to the product, or packaging associated with the product, configured to receive the data and transmit same to one or more remote databases and/or servers.

7. A method according to claim 6, wherein the one or more sensing devices and the data recordal and transmission device form part of the Internet of Things (loT) infrastructure such that any sensing device within sufficient vicinity of the data recordal and transmission device may be requested to transmit sensor data regarding the one or more environmental conditions to the recordal and transmission device.

7. A method according to any one of the preceding claims, wherein the intervals at which data relating to environmental factors is also recorded and/or stored.

8. A method according to any one of the preceding claims, wherein when data relating to a particular stage of production of the product is not available, data relating to a different product in the same, or a similar product category, is retrieved.

9. A method according to any one of the preceding claims, wherein during one or more stages relating to the production of the product, the product is allocated an identifier to enable the product to be identified and further to enable products within the same, or a similar category, to be identified.

10. A method according to claim 9, wherein the user request for valuation of the product includes the identifier allocated to the product.

1 1. A method according to either claim 9 or claim 10, wherein the identifier allocated to the product is updated or changed during different production stages.

12. A method according to any one of the preceding claims, wherein providing the valuation of a product in response to a user request includes displaying, on a user device, any one or more of: information relating to the one or more processes the product has undergone, a current process associated with the product, and information summarising the data retrieved during one or more of the processes the product has experienced.

13. A method according to any one of the preceding claims, wherein the user is presented with an alert or notification in the event the product was subjected to an adverse environmental condition during one or more processes that substantially adversely affects the valuation of the product.

14. A system for providing a valuation of a product taking into account environmental conditions to which the product has been subjected, the system including a database that contains a data structure, and one or more processors operable to: receive data from one or more environmental sensing devices or databases associated with a product, the data pertaining to one or more environmental conditions experienced by the product, or a part or ingredient thereof, during production and/or since procurement of the product; store the data relating to the product, or a part or ingredient thereof, pertaining to the one or more environmental conditions; 22 compare the data relating to the one or more environmental conditions experienced by the product, or a part or ingredient thereof, with a database containing a data structure storing data regarding products and/or ingredients and effects of particular environmental conditions upon the products and/or ingredients, to determine one or more effects on the product, or a part or ingredient thereof; determine a valuation of the product based upon the one or more effects of the environmental conditions experienced by the product, or a part or ingredient thereof; and provide the valuation of the product in response to a user request.

15. A system according to claim 14, wherein the receipt of data from the one or more environmental sensing devices or databases associated with the product, includes a retrieval of data from any one or more of the following: the one or more sensing devices used to directly monitor the environmental conditions to which the product is subjected, a database in which historical data obtained from the one or more sensing devices used to monitor the environmental conditions to which the product has been subjected is stored, and a database in which historical data obtained from one or more other sensing devices used to monitor the environmental conditions to which a similar product, or a product in the same category, has been subjected is stored.

16. A system according to either claim 14 or claim 15, wherein the one or more sensing devices transmit data to a data recordal and transmission device attached to the product, or packaging associated with the product, configured to receive the data and transmit same to one or more remote databases and/or servers.

17. A system according to claim 16, wherein the one or more sensing devices and the data recordal and transmission device form part of the Internet of Things (loT) infrastructure such that any sensing device within sufficient vicinity of the data recordal and transmission device may be requested to transmit sensor data regarding the one or more environmental conditions to the recordal and transmission device.

18. A computer-readable medium having a plurality of instructions executable by one or more processors that, when executed, cause the one or more processors to: receive data from one or more environmental sensing devices or databases associated with a product, the data pertaining to one or more environmental conditions 23 experienced by the product, or a part or ingredient thereof, during production and/or since procurement of the product; store the data relating to the product, or a part or ingredient thereof, pertaining to the one or more environmental conditions; compare the data relating to the one or more environmental conditions experienced by the product, or a part or ingredient thereof, with a database containing a data structure storing data regarding products and/or ingredients and effects of particular environmental conditions upon the products and/or ingredients, to determine one or more effects on the product, or a part or ingredient thereof; determine a valuation of the product based upon the one or more effects of the environmental conditions experienced by the product or a part or ingredient thereof; and provide the valuation of the product in response to a user request.