SYSTEM AND METHOD OF DETERMINING A RETAIL COMMODITY PRICE WITHIN A GEOGRAPHIC BOUNDARY
First Claim
1. A method for determining a retail commodity price within a geographic boundary, comprising:
- obtaining from a first source a retail price on a commodity at a plurality of locations within a geographic boundary;
obtaining from a second source a retail price on the commodity at the plurality of locations within a geographic boundary;
generating a composite retail price at each of the plurality of locations using the first source retail price and the second source retail price; and
generating an aggregate composite price of the commodity within the geographical boundary using the composite retail price at each location within the geographic boundary.
1 Assignment
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Accused Products
Abstract
Disclosed are a method and system for determining a retail price for a commodity within a geographic boundary. Retail prices for the commodity may be obtained from various sources, such as observers, third-party reporting, transactional data, and self-reporting. The retail price for each source may be analyzed to determine a risk factor. The retail prices from all sources associated with a location may be compared to determine a composite retail price for the location. The retail prices for all the locations within the geographic boundary may be analyzed to generate an aggregate composite price for the commodity within the geographic boundary. The analysis may include using a weighted formula. The analysis may include a volume proxy.
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Citations
25 Claims
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1. A method for determining a retail commodity price within a geographic boundary, comprising:
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obtaining from a first source a retail price on a commodity at a plurality of locations within a geographic boundary; obtaining from a second source a retail price on the commodity at the plurality of locations within a geographic boundary; generating a composite retail price at each of the plurality of locations using the first source retail price and the second source retail price; and generating an aggregate composite price of the commodity within the geographical boundary using the composite retail price at each location within the geographic boundary. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A computer-readable medium carrying program instructions executable by a processor to perform:
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obtain from a first source a retail price on a commodity at a plurality of locations within a geographic boundary; obtain from a second source a retail price on the commodity at the plurality of locations within a geographic boundary; generate a composite retail price at each of the plurality of locations using the first source retail price and the second source retail price; and generate an aggregate composite price of the commodity within the geographical boundary using the composite retail price at each location within the geographic boundary. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16)
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17. A system comprising:
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a processor; a computer-readable medium carrying program instructions executable by the processor to perform; obtaining from a first source a retail price on a commodity at a plurality of locations within a geographic boundary; obtaining from a second source a retail price on the commodity at the plurality of locations within a geographic boundary; generating a composite retail price at each of the plurality of locations using the first source retail price and the second source retail price; and generating an aggregate composite price of the commodity within the geographical boundary using the composite retail price at each location within the geographic boundary. - View Dependent Claims (18, 19, 20, 21, 22, 23)
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24. A method for determining a retail commodity price within a geographic boundary, comprising:
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obtaining from an observation source a retail price on a commodity at a plurality of locations within a geographic boundary; obtaining from a transaction source a retail price on the commodity at the plurality of locations within a geographic boundary; generating a composite retail price at each of the plurality of locations using the observation source retail price and the transaction source retail price; and generating an aggregate composite price of the commodity within the geographical boundary using the composite retail price at each location within the geographic boundary. - View Dependent Claims (25)
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Specification