Comparison shopping via financial management software

• US 8,131,600 B2
• Filed: 04/16/2008
• Issued: 03/06/2012
• Est. Priority Date: 08/04/2004
• Status: Active Grant

• Current Assignee: International Business Machines Corporation
• Original Assignee: International Business Machines Corporation
• Inventors: Leggett, Jacquelle D., Peters, Mark E.
• Primary Examiner(s): Rosen, Nicholas D
• Application Number:
  US12/104,164
• Publication Number:
  US 20080215455A1
• Time in Patent Office: 1,420 Days
• Field of Search: 705/26.61, 705/26.62, 705/26.64, 705/26.8, 705/26.81, 705/26.9
• US Class Current: 705/26.64
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/0619 Neutral agent
• CPC Class Codes: G06Q 30/0623 Item investigation
• CPC Class Codes: G06Q 30/0625 Directed, with specific intent or strategy
• CPC Class Codes: G06Q 30/0629 for generating comparisons
• CPC Class Codes: G06Q 30/0639 Item locations

Abstract

The invention comprises a financial management program and one or more databases containing information on merchants and their products. The program interacts with the databases containing the product information to return the prices and availability of goods located in a designated area. The program compares prices from various merchants and displays the results to the consumer. The program also allows the consumer to compare the prices with a household budget an financial data, while keeping track of trends in the consumer'"'"'s spending and buying habits.

Claims

1. A data processing machine comprising:

a processor;

a memory including a plurality of product identifiers; and

a database comprising a plurality of merchants'"'"' prices for each product identifier, wherein

the processor is configured to

retrieve the merchant prices from the database,

match each product identifier with all corresponding merchant prices,

determine a minimum merchant price for each product identifier, compare each merchant'"'"'s price for a plurality of products,

retrieve transaction data from a bank, the transaction data comprising a product purchase price,

match the product purchase price with all corresponding merchant prices,

determine a difference between the product purchase price and each corresponding product price, and

compare the product purchase price with each merchant'"'"'s offered price for the same product.

2. The data processing machine of claim 1 wherein the processor is further configured to identify the merchant having the aggregate minimum price for all product identifiers.

3. The data processing machine of claim 2 wherein

the database further comprises the merchants'"'"' availability for each product identifier;

and

the processor is further configured to place an order with the merchants for one or more available products.

4. The data processing machine of claim 1 wherein

the database further comprises the merchants'"'"' availability for each product identifier;

and

the processor is further configured to place an order with the merchants for one or more available products.

5. The data processing machine of claim 1 wherein

the processor is further configured to determine a maximum difference between the product purchase price and the corresponding merchant prices.

6. The data processing machine of claim 1 wherein the processor is further configured to:

assign each product identifier to a budget category;

set a spending limit for each budget category; and

determine if the minimum merchant price for any product identifier exceeds a spending limit of the budget category to which the product identifier is assigned.

7. The data processing machine of claim 1 wherein:

the database further comprises location data for each merchant; and

the processor is further configured to

designate a preferred merchant location, and

match the preferred location with all corresponding merchant location data;

wherein

the merchant prices retrieved from the database are limited to prices offered by merchants within the preferred merchant location.

8. A data processing machine comprising:

a processor;

a memory;

a database comprising a plurality of merchants'"'"' prices for products, wherein

the processor is configured to

retrieve transaction data from a bank, the transaction data comprising a product purchase price,

retrieve the merchant prices from the database,

match the product purchase price with all corresponding merchant prices, and

determine a difference between the product purchase price and each corresponding merchant price, and

compare the product purchase price with each merchant'"'"'s offered price for the same product.

9. The data processing machine of claim 8 wherein:

the database further comprises location data for each merchant; and

the processor is further configured to

designate a preferred merchant location, and

match the preferred location with all corresponding merchant location data, wherein

the merchant prices retrieved from the database are limited to prices offered by merchants within the preferred merchant location.

10. The data processing machine of claim 9 wherein

the processor is further configured to determine a maximum difference between the product purchase price and the corresponding merchant prices.

11. The data processing machine of claim 8 wherein

the processor is further configured to determine a maximum difference between the product purchase price and the corresponding merchant prices.

12. A computer memory comprising an improved financial management program, the program, which when operated on a data processing machine in communication with a database comprising a plurality of merchants'"'"' prices for products, causes the data processing machine to perform:

reading a list of product identifiers;

retrieving the merchant prices from the database;

matching each product identifier with the corresponding merchant prices;

determining a minimum merchant price for each product identifier;

displaying the minimum merchant price for each product identifier;

comparing each merchant'"'"'s price for each product identifier;

retrieving transaction data from a bank, the transaction data comprising a product purchase price;

matching the product purchase price with the corresponding merchant prices; and

determining a difference between the product purchase price and each corresponding merchant price.

13. The computer memory of claim 12 wherein

the database further comprises location data for each merchant and

the program further causes the data processing machine to perform:

designating a preferred merchant location; and

matching the preferred merchant location with all corresponding merchant location data, wherein

the merchant prices retrieved from the database are limited to prices offered by merchants within the preferred merchant location.

14. The computer memory of claim 13 wherein the program further causes the data processing machine to perform

identifying a merchant having the aggregate minimum price for all product identifiers.

15. The computer memory of claim 13 wherein the program further causes the data processing machine to perform

determining an availability of products, and

placing an order with the merchants for one or more products.

16. The computer memory of claim 13 wherein the program further causes the data processing machine to perform:

assigning each product identifier to a budget category;

setting a spending limit for each budget category; and

determining if the minimum merchant price for any product identifier exceeds the spending limit of the budget category to which the product identifier is assigned.

17. The computer memory of claim 12 wherein the program further causes the data processing machine to perform

identifying a merchant having the aggregate minimum price for all product identifiers.

18. The computer memory of claim 12 wherein the program further causes the data processing machine to perform

determining an availability of products, and

placing an order with the merchants for one or more available products.

19. The computer memory of claim 12 wherein the program further causes the data processing machine to perform

determining a maximum difference between the product purchase price and the corresponding merchant prices.

20. The computer memory of claim 12 wherein the program further causes the data processing machine to perform:

assigning each product identifier to a budget category;

setting a spending limit for each budget category; and

determining if the minimum merchant price for any product identifier exceeds the spending limit of the budget category to which the product identifier is assigned.

21. A data processing machine comprising:

a processor;

a memory including a plurality of product identifiers;

a database comprising a plurality of merchants'"'"' prices for each product identifier, each merchant'"'"'s availability for each product identifier, and location data for each merchant, wherein

the processor is configured to

retrieve the merchant prices from the database,

match each product identifier with all corresponding merchant prices,

determine a minimum merchant price for each product identifier,

identify a merchant having the aggregate minimum price for all product identifiers,

place an order with the merchants for one or more available products,

retrieve transaction data from a bank, the transaction data comprising a product purchase price,

match the product purchase price with all corresponding merchant prices,

determine a difference between the product purchase price and each corresponding product price,

determine a maximum difference between the product purchase price and the corresponding merchant prices,

assign each product identifier to a budget category,

set a spending limit for each budget category,

determine if the minimum merchant price for any product identifier exceeds the spending limit of the budget category to which the product identifier is assigned,

designate a preferred merchant location,

match the preferred location with all corresponding merchant location data,

compare each merchant'"'"'s price for a plurality of products, and

compare merchant'"'"'s prices with budget spending limits.