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AUTOMATED SYSTEM FOR ADAPTING MARKET DATA AND EVALUATING THE MARKET VALUE OF ITEMS

  • US 20150278839A1
  • Filed: 06/16/2015
  • Published: 10/01/2015
  • Est. Priority Date: 06/28/2000
  • Status: Active Grant
First Claim
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1. In a networked service provider environment, a system comprising:

  • a service provider server comprising;

    a network interface;

    a non-transitory computer-readable medium having computer-executable instructions stored thereon, wherein the computer-executable instructions, when executed, implement a metric manager and a metric application; and

    a processor in communication with the network interface and the computer-readable medium, wherein the processor is configured to execute the computer-executable instructions stored on the computer-readable medium;

    wherein;

    the metric manager is programmed to manage at least one evaluation service and a plurality of predefined instructions for adapting metric data,the metric application is programmed to manage invocation of the at least one evaluation service and execution of one or more predefined instructions for adapting metric data that pertain to the at least one evaluation service, and to manage one or more interfaces that facilitate communications with the service provider server, andin operation, the metric application configures the service provider server to;

    receive, from a remotely located buyer-agent computing device, via the network interface, one or more product specification data sets, wherein each product specification data set identifies at least one item defined by a plurality of attributes having attribute data that includes two or more parameter values, or a plurality of items that differ in accordance with at least one parameter value, wherein the parameter value or values represent attributes that are variable for the identified item or items;

    receive a plurality of price data sets responsive to the one or more product specification data sets, wherein each received price data set identifies at least one item that is responsive to a respective item identified in the one or more product specification data sets, wherein the at least one item is defined by a plurality of attributes having attribute data that includes at least one parameter value, wherein each received price data set represents an offer to sell and includes price data for the at least one item, and wherein at least one item identified in a received price data set differs by at least one parameter value from the respective item as identified in the product specification data set and/or another received price data set; and

    for at least a subset of the received price data sets, invoke the at least one evaluation service to automatically produce one or more normalized metric values for at least one item identified in each of the price data sets in the subset, wherein the subset includes at least one received price data set that identifies at least one item that differs by at least one parameter value from the respective item as identified in the product specification data set and/or another received price data set, and wherein invoking the at least one evaluation service causes the metric application to;

    obtain, from at least one data source accessible to the service provider server, metric data for one or more items responsive to attributes of the at least one item identified in the price data set, wherein each of the one or more responsive items in the metric data is defined by a plurality of attributes having attribute data that includes at least one parameter value, and wherein the metric data includes market reference price data for the one or more responsive items at a particular time or period of time;

    algorithmically process the attribute data for each responsive item in the metric data and the attribute data of the at least one item identified in the price data set to dynamically identify any differences, wherein the identified differences in the attribute data are used to contextually determine which of the predefined instructions are applicable to the responsive item in the metric data;

    normalize the metric data by executing the predefined instructions that were determined applicable to the responsive item in the metric data, wherein execution of the predefined instructions causes one or more adjustment values to be generated and applied to the market reference price data for at least one responsive item that differs by at least one parameter value from the at least one item identified in the price data set, transforming the market reference price data for the at least one responsive item into normalized metric data; and

    produce at least one normalized metric value for the at least one item identified in the price data set using the normalized metric data;

    wherein the metric application is further programmed to manage at least one interface that, in operation, configures the service provider server to communicate, via the network interface, at least a subset of the received price data sets and the at least one normalized metric value produced for the at least one item identified in each of the communicated price data sets, to at least the remotely located buyer-agent computing device from which the one or more product specification data sets were received.

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