System and methods for rating plural products

• US 20080270326A1
• Filed: 07/01/2008
• Published: 10/30/2008
• Est. Priority Date: 10/07/2002
• Status: Active Grant

• Current Assignee: CBS Interactive Inc. (Paramount Global (f/k/a ViacomCBS Inc.))
• Original Assignee: CNET Networks Incorporated (Paramount Global (f/k/a ViacomCBS Inc.))
• Inventors: Musgrove, Timothy A., Walsh, Robin Hiroko, Gilchrist, Russell
• Granted Patent: US 8,082,214 B2
• Time in Patent Office: Days
• US Class Current: 705/400
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0282 Rating or review of business operators or products
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/0627 using item specifications

Abstract

A system and method for rating of each of plural products comprising identifying plurality of attributes associated with a category of product, applying a scalar structure for each attribute to provide scalar value of each attribute for each of the plural products, determining an incremental competitive index for each attribute of each product based on the scalar value of each attribute and a number of products having the scalar value, and rating each product based on the determined competitive index.

Claims

1. A method for rating plural products comprising the steps of:

identifying a plurality of attributes associated with a category of product, said plurality of attributes including the price of each of said plural products;

applying a scalar structure for each attribute to provide a scalar value of each attribute for each of said plural products;

determining an incremental index for each attribute of each product based on said scalar value of each attribute;

determining a price offset of each product based on an average price of said plural products in said category, wherein the price offset of each product comprises an offset of an actual price of each product from the average price;

apportioning said price offset of each product to one or more attributes associated with said category;

correlating said apportioned price offsets to increments of incremental index;

determining a theoretical value price of each product based on said correlated apportioned price offsets; and

rating each of said plural products based on actual product price and said determined theoretical value price.

2. The method of claim 1, wherein said determined incremental index is a percentile rank.

3. The method of claim 1, wherein said determined incremental index is also based on a number of products having said scalar value of each attribute.

4. The method of claim 1, wherein said step of determining an incremental index for each attribute includes the steps of:

calculating a percentile rank of each scalar value;

calculating a percentile rank range which each scalar value spans; and

processing a maximum percentile rank and a minimum percentile rank of said calculated percentile rank range.

5. The method of claim 4, wherein said step of processing said maximum percentile rank and said minimum percentile rank includes the step of determining an average of said maximum percentile rank and said minimum percentile rank.

6. The method of claim 1, wherein said step of determining an incremental index for each attribute further includes the step of sequencing said scalar value of each attribute for each of said plural products.

7. The method of claim 1, wherein said step of determining price offsets at least includes the step of comparing prices of products having an attribute with an average price of products not having said attribute.

8. The method of claim 1, wherein said price offset of each product is apportioned to one or more attributes based on incremental index of each attribute for each product.

9. The method of claim 1, further including the step of assigning an importance level to at least one attribute, and setting a corresponding threshold to said importance level which sets a maximum number of attributes that can be absent from a product at said importance level for said product to be subjected to said step of determining said incremental index.

10. The method of claim 1, further including the step of calculating a correlation reliability value.

11. The method of claim 10, further including the step of generating a warning if said correlation is less than a predetermined level.

12. The method of claim 11, further including the step of disregarding said product attribute in determining said incremental index if said correlation is less than a predetermined level.

13. The method of claim 1, further including the step of providing an anticipated street price for a new product when said new product does not have a price associated therewith from a predetermined number of vendors.

14. The method of claim 1, further including the step of generating a notification if a rating of a product changes at least a predetermined amount.

15. The method of claim 1, further including the step of publishing said rating of each of said plural products.

16. A rating system for rating plural products comprising:

an identification module that stores a plurality of attributes associated with a category of product, said plurality of attributes including the price of each of said plural products;

a quantification module adapted to apply a scalar structure for each attribute to provide a scalar value of each attribute for each of said plural products;

an indexing module that determines an incremental index for each attribute of each product based on said scalar value of each attribute;

a price offset module that determines a price offset of each product based on an average price of said plural products in said category, the price offset of each product comprising an offset of an actual price of each product from the average price, said price offset module also apportions said price offset of each product to one or more attributes associated with said category of product, and correlates said apportioned price offsets to increments of said index;

a valuation module that determines a theoretical value price of each product based on said correlated apportioned price offsets; and

a product rating module that rates each product based on actual product price and said determined theoretical value price.

17. The system of claim 16, wherein said determined incremental index is a percentile rank.

18. The system of claim 16, wherein said determined incremental index is a competitive index at least partially based on number of products having said scalar value of each attribute.

19. The system of claim 16, wherein said indexing module calculates percentile rank of each scalar value, calculates a percentile rank range which each scalar value spans, and processes a maximum percentile rank and a minimum percentile rank of said calculated percentile rank range.

20. The system of claim 19, wherein said indexing module processes said maximum percentile rank and said minimum percentile rank by at least determining an average of said maximum percentile rank and said minimum percentile rank.

21. The system of claim 20, wherein said indexing module sequences said scalar value of each attribute for each of said plural products.

22. The system of claim 16, wherein said price offset module compares prices of products having an attribute with an average price of products not having said attribute.

23. The system of claim 16, wherein said price offset module apportions said price offset of each product to one or more attributes based on incremental index of each attribute for each product.

24. The system of claim 16, further including a threshold module that assigns an importance level to at least one attribute, and sets a corresponding threshold to said importance level which sets a maximum number of attributes that can be absent from a product at said importance level for said product to be subjected to said step of determining said incremental index.

25. The system of claim 16, wherein said price offset module is further adapted to calculate a correlation reliability value.

26. The system of claim 25, wherein said price offset module is further adapted to generate a warning if said correlation is less than a predetermined level.

27. The system of claim 25, wherein said system is adapted to disregard said product attribute in determining said competitive index if said correlation is less than a predetermined level.

28. The system of claim 16, wherein said system is implemented on a computer.

29. The system of claim 18, wherein said computer is a server connected to a network.

30. The system of claim 29, wherein said product rating module of said system publishes ratings of each of said plural products so that said ratings are remotely accessible via said network.

31. A computer readable medium for rating plural products having instructions for:

identifying a plurality of attributes associated with a category of product, said plurality of attributes including the price of each of said plural products;

applying a scalar structure for each attribute to provide a scalar value of each attribute for each of said plural products;

determining an incremental index for each attribute of each product based on said scalar value of each attribute;

determining a price offset of each product based on an average price of said plural products in said category, wherein the price offset of each product comprises an offset of an actual price of each product from the average price;

apportioning said price offset of each product to one or more attributes associated with said category;

correlating said apportioned price offsets to increments of incremental index;

determining a theoretical value price of each product based on said correlated apportioned price offsets; and

rating each of said plural products based on actual product price and said determined theoretical value price.

32. The medium of claim 31, wherein said determined incremental index is a percentile rank.

33. The medium of claim 32, wherein said determined incremental index is also based on a number of products having said scalar value of each attribute.

34. The medium of claim 31, wherein said instructions for determining an incremental index for each attribute include instructions for:

calculating percentile rank of each scalar value;

calculating a percentile rank range which each scalar value spans; and

processing a maximum percentile rank and a minimum percentile rank of said calculated percentile rank range.