The Royal Bank of Canada has been granted a patent for a system that dynamically updates a priority queue for scheduling data operations. The method involves detecting relevant event data, traversing a cascading data structure, and generating an updated priority queue based on priority weights and auditable entities. GlobalData’s report on Royal Bank of Canada 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 Royal Bank of Canada, Social commerce was a key innovation area identified from patents. Royal Bank of Canada's grant share as of July 2024 was 84%. Grant share is based on the ratio of number of grants to total number of patents.
Dynamic priority queue updates for scheduling data operations
The patent US12073348B2 describes a system and method for dynamically updating a priority queue to schedule data operations related to data records of multiple auditable entities. The system includes a processor and memory that store executable instructions for scheduling data operations over a specified time period. This involves generating a sequence of data process segments linked to an audit process and determining priority weights for these segments. The system receives event data from various sources and detects when certain event data objects meet a predefined threshold, indicating a shift in the relevance of data operations. This detection process utilizes natural language processing to analyze external news data and identify significant deviations in frequency indices related to the auditable entities.
Upon detecting relevant event data, the system traverses a cascading data structure to identify the corresponding auditable entities and generates an updated priority queue. This updated queue reallocates data operations by adjusting priority weights based on the newly identified event data, allowing for a more responsive scheduling of operations. The system can also communicate these updates through a dynamic user interface, providing real-time notifications of significant changes in event data metrics. The method further includes provisions for generating moving average index values and configurable threshold values to enhance the detection process, ensuring that the system remains adaptable to emerging events and operational shifts.
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