System and method for managing and evaluating network commodities purchasing

• US 8,635,139 B2
• Filed: 01/17/2013
• Issued: 01/21/2014
• Est. Priority Date: 06/28/2000
• Status: Expired due to Fees

• Current Assignee: Buymetrics Incorporated
• Original Assignee: Buymetrics Incorporated
• Inventors: Hansen, Valerie
• Primary Examiner(s): NIQUETTE, ROBERT R
• Application Number:
  US13/744,373
• Publication Number:
  US 20130132160A1
• Time in Patent Office: 369 Days
• Field of Search: 705/35
• US Class Current: 705/35
• CPC Class Codes: G06F 16/24575 using context
• CPC Class Codes: G06F 16/24578 using ranking
• CPC Class Codes: G06F 16/248 Presentation of query results
• CPC Class Codes: G06F 16/951 Indexing; Web crawling techniques
• CPC Class Codes: G06F 7/08 Sorting, i.e. grouping record carriers in numerical or other ordered sequence according to the classification of at least some of the information they carry by merging two or more sets of carriers in ordered sequence G06F7/16
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/201 Price look-up processing, e.g. updating
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0201 Market modelling; Market analysis; Collecting market data
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• CPC Class Codes: G06Q 30/0206 Price or cost determination based on market factors
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/0603 Catalogue ordering
• CPC Class Codes: G06Q 30/0611 Request for offers or quotes
• CPC Class Codes: G06Q 30/0623 Item investigation
• CPC Class Codes: G06Q 30/0629 for generating comparisons
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 : Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 : Insurance
• CPC Class Codes: G06Q 40/12 : Accounting
• CPC Class Codes: G06Q 50/16 : Real estate
• CPC Class Codes: G06Q 50/188 : Electronic negotiation

Abstract

A computer-readable storage medium contains instructions that cause one or more computing devices to receive a product specification data set identifying one or more items, and price data sets that include one or more items and corresponding price data. For each price data set, metric data is obtained which includes one or more market reference prices for the items in the price data set. A market value of the items is calculated for comparison to the price data in the price data set. The instructions may also cause the one or more computing devices to compare the price data in the price data set to the calculated market value to generate a comparison value. In another embodiment, metric data is obtained for each item in a product specification data set, and a market value of each item is calculated for comparison to the price data in the price data sets.

Claims

1. A non-transitory computer-readable storage medium having executable instructions stored thereon, wherein the instructions, in response to execution by one or more computing devices, cause the one or more computing devices to:

receive a product specification data set that includes one or more items;

receive one or more price data sets, wherein each price data set includes one or more items and corresponding price data that are responsive to one or more of the items in the product specification data set, and wherein at least one price data set includes at least one item having a parameter value that is different than the parameter value of the item in the product specification data set and/or another price data set; and

for each price data set;

obtain metric data from at least one source for each item in the price data set, wherein the metric data includes one or more market reference prices for the items in the price data set; and

using the metric data, calculate a market value of each item in the price data set for comparison to the price data in the price data set.

2. The computer-readable storage medium of claim 1, wherein the instructions, in response to execution, further cause the one or more computing devices to:

determine a comparison value by comparing the item price in each of the price data sets to the item'"'"'s calculated market value; and

communicate the comparison value to at least one output.

3. The computer-readable storage medium of claim 1, wherein the instructions, in response to execution, further cause the one or more computing devices to calculate a market value total for each price data set by:

multiplying the calculated market value per item by the quantity of the item, producing a market value total per item; and

summing each item'"'"'s market value total across all items in the price data set, to produce a market value total for the price data set.

4. The computer-readable storage medium of claim 3, wherein the instructions, in response to execution, further cause the one or more computing devices to compare the price data sets by their calculated market value total, wherein comparing includes ranking or grouping the price data sets by their calculated market value total.

5. The computer-readable storage medium of claim 3, wherein the instructions, in response to execution, further cause the one or more computing devices to divide the price data of a price data set by the price data set'"'"'s calculated market value total, producing a ratio or index value.

6. The computer-readable storage medium of claim 1, wherein the parameter value pertains to a grade, a rating measure, a species, a type, a quantity, a size, a tally, a location, a method of delivery, a delivery date, a payment term, or a warranty.

7. The computer-readable storage medium of claim 6, wherein the delivery date includes contemporaneous on or before delivery or a forward price with one or more delivery dates in the future.

8. The computer-readable storage medium of claim 1, wherein at least one of the price data sets specifies a price in the future that is defined as a formula of, and/or derived from, one or more prices to be reported in the future.

9. The computer-readable storage medium of claim 1, wherein the instructions, in response to execution, further cause the one or more computing devices to mathematically normalize a unit of measure for the items and/or a parameter in the one or more price data sets or the metric data to a standardized or common unit of measure.

10. The computer-readable storage medium of claim 1, wherein the instructions, in response to execution, further cause the one or more computing devices to verify that a unit of measure for an item in the metric data is equal to the unit of measure of the item included in the price data set, and if not equal, then mathematically convert the market reference price in the metric data according to the unit of measure in the price data set.

11. The computer-readable storage medium of claim 1, wherein the one or more market reference prices represent comparable current market prices for the one or more items in the price data set.

12. The computer-readable storage medium of claim 1, wherein the instructions, in response to execution, further cause the one or more computing devices to display the calculated market value, wherein the display of the calculated market value is expandable to expose calculation detail.

13. The computer-readable storage medium of claim 1, wherein an item pertains to a physical product, a raw material, an intangible product, a service, or a combination thereof.

14. The computer-readable storage medium of claim 1, wherein the product specification data set represents a bundled product, a tally, a list, or an assembly of component items.

15. The computer-readable storage medium of claim 1, wherein the instructions, in response to execution, further cause the one or more computing devices to update the calculated market value of a price data set by obtaining updated metric data from at least one source for the one or more items in the price data set, wherein the updated metric data includes one or more current market reference prices for the one or more items, and calculating an updated market value of each item in the price data set.

16. The computer-readable storage medium of claim 15, wherein the instructions, in response to execution, further cause the one or more computing devices to compare the updated market value to a prior or base market value, and communicate the comparison to at least one output.

17. The computer-readable storage medium of claim 16, wherein the comparison represents a percent of the prior or base market value for the one or more items in the price data set.

18. The computer-readable storage medium of claim 16, wherein the comparison is a ratio or index calculated by dividing the updated market value by the prior or base market value.

19. The computer-readable storage medium of claim 18, wherein a display of the updated market value and/or the ratio or index is expandable to expose calculation detail.

20. The computer-readable storage medium of claim 1, wherein obtaining metric data for an item in the price data set includes applying one or more pre-defined variables to the metric data in response to one or more parameter values in the price data set.

21. A non-transitory computer-readable storage medium having executable instructions stored thereon, wherein the instructions, in response to execution by one or more computing devices, cause the one or more computing devices to:

receive a product specification data set that identifies a plurality of items that differ in accordance with at least one parameter;

receive one or more price data sets, wherein each price data set includes one or more items and corresponding price data that are responsive to one or more of the items in the product specification data set; and

for each price data set;

obtain metric data from at least one source for each item in the price data set, wherein the metric data includes one or more market reference prices for the items in the price data set; and

using the metric data, calculate a market value of each item in the price data set for comparison to the price data in the price data set.

22. The computer-readable storage medium of claim 21, wherein the instructions, in response to execution, further cause the one or more computing devices to:

for each price data set;

compare the price data in the price data set to the calculated market value to generate a comparison value; and

communicate the comparison value to at least one output.

23. The computer-readable storage medium of claim 22, wherein a price data set includes a quantity for each of the items in the price data set, and wherein the comparison value is generated by:

multiplying the price data for each item in the price data set by the quantity of the item and summing the result across all items in the price data set to produce a data set price total;

multiplying the calculated market value for each item by the quantity of the item and summing the result across all items in the price data set to produce a data set market value total; and

comparing the data set price total to the data set market value total.

24. The computer-readable storage medium of claim 22, wherein the instructions, in response to execution, further cause the one or more computing devices to:

compare the calculated market value per item across all responsive price data sets;

rank the comparison values; and

communicate the ranked comparison values to the at least one output.

25. The computer-readable storage medium of claim 21, wherein the instructions, in response to execution, further cause the one or more computing devices to verify that a selling unit of measure for an item in the one or more price data sets is equal to the unit of measure of the corresponding item as specified in the product specification data set, and if not equal, then mathematically convert the corresponding price data according to the specified unit of measure.

26. The computer-readable storage medium of claim 21, wherein the instructions, in response to execution, further cause the one or more computing devices to mathematically normalize a unit of measure for the items and/or a parameter in the one or more price data sets or in the metric data to a standardized or common unit of measure.

27. The computer-readable storage medium of claim 21, wherein the metric data includes a comparable market price for an item that is responsive to the product specification data set but has a parameter value that is different than the parameter value of the item in the product specification data set.

28. The computer-readable storage medium of claim 21, wherein calculating the market value of each item includes applying one or more pre-defined variables to the metric data in response to one or more parameters specified in the price data set.

29. A non-transitory computer-readable storage medium having executable instructions stored thereon, wherein the instructions, in response to execution by one or more computing devices, cause the one or more computing devices to:

receive a product specification data set that identifies one or more items, wherein at least one of the items is defined by two or more parameter values;

receive a plurality of price data sets, wherein each price data set includes one or more items and corresponding price data that are responsive to the one or more of the items in the product specification data set;

obtain metric data from at least one source for each item in the product specification data set, wherein the metric data includes one or more market reference prices for the items in the product specification data set; and

using the metric data, calculate a market value of each item in the product specification data set for comparison to the price data in the plurality of price data sets.

30. The computer-readable storage medium of claim 29, wherein the instructions, in response to execution, further cause the one or more computing devices to:

compare the price data for the one or more items in a price data set to the calculated market value of the items in the product specification data set to generate a comparison value; and

communicate the comparison value to at least one output.

31. The computer-readable storage medium of claim 30, wherein a price data set includes a quantity for each of the items in the price data set, and wherein the comparison value is generated by:

multiplying the price data for each item in the price data set by the quantity of the item and summing the result across all items in the price data set to produce a data set price total;

multiplying the calculated market value for each item by the quantity of the item and summing the result across all items in the product specification data set to produce a data set market value total; and

comparing the data set price total to the data set market value total.

32. The computer-readable storage medium of claim 30, wherein the instructions, in response to execution, further cause the one or more computing devices to:

compare the calculated market value per item in the product specification data set with the price data in all responsive price data sets;

rank the comparison values; and

communicate the ranked comparison values to the at least one output.

33. The computer-readable storage medium of claim 29, wherein the instructions, in response to execution, further cause the one or more computing devices to verify that a selling unit of measure for an item in the one or more price data sets is equal to the unit of measure of the corresponding item as specified in the product specification data set, and if not equal, then mathematically convert the price data in the price data set according to the specified unit of measure.

34. The computer-readable storage medium of claim 29, wherein the instructions, in response to execution, further cause the one or more computing devices to mathematically normalize a unit of measure for the items and/or a parameter in the one or more price data sets or the metric data to a standardized or common unit of measure.

35. The computer-readable storage medium of claim 29, wherein the metric data includes a comparable market price for an item that is responsive to the product specification data set but has a parameter value that is different than the parameter value of the item in the product specification data set.

36. The computer-readable storage medium of claim 29, wherein calculating the market value of each item includes applying one or more pre-defined variables to the metric data in response to one or more parameters specified in the product specification data set.

37. The computer-readable storage medium of claim 29, wherein the instructions, in response to execution, further cause the one or more computing devices to:

obtain a market reference price for an item in a price data set from at least one source;

calculate a market value for the item including applying one or more pre-defined variables to the market reference price in response to one or more parameters specified in the price data set; and

compare the calculated market value of the item in the price data set to the calculated market value of the item in the product specification data set.

38. A non-transitory computer-readable storage medium having executable instructions stored thereon, wherein the instructions, in response to execution by one or more computing devices, cause the one or more computing devices to:

receive at least one product specification data set that identifies at least one item defined by two or more parameters, or a plurality of items that differ in accordance with at least one parameter;

obtain metric data from at least one source for each item in the product specification data set, wherein the metric data includes one or more market reference prices for the item or items in the product specification data set;

calculate a market value for each item in the product specification data set from the metric data; and

communicate the calculated market values to at least one output.

39. The computer-readable storage medium of claim 38, wherein the parameter pertains to a grade, a rating measure, a species, a type, a quantity, a size, a tally, a location, a method of delivery, a delivery date, a payment term, or a warranty.

40. The computer-readable storage medium of claim 38, wherein the product specification data set includes a quantity for the item, and wherein the instructions, in response to execution, further cause the one or more computing devices to calculate a market value total for the product specification data set by:

multiplying the calculated market value per item by the quantity of the item, producing a market value total per item; and

summing each item'"'"'s market value total across all items in the product specification data set to produce a market value total for the product specification data set.

41. The computer-readable storage medium of claim 38, wherein an item pertains to a physical product, a raw material, an intangible product, a service, or a combination thereof.

42. The computer-readable storage medium of claim 38, wherein the one or more market reference prices represent comparable current market prices for one or more items in the product specification data set.

43. The computer-readable storage medium of claim 38, wherein a calculated market value is compared to a calculated market value of another time period or a base period.

44. The computer-readable storage medium of claim 38, wherein a unit of measure of an item in the metric data is verified as equal to the unit of measure of the item as specified in the product specification data set, and if not equal, the market reference price of the item in the metric data is mathematically converted according to the specified unit of measure.

45. The computer-readable storage medium of claim 38, wherein the instructions, in response to execution, further cause the one or more computing devices to mathematically normalize a unit of measure for the items and/or a parameter in the at least one product specification data set or the metric data to a standardized or common unit of measure.

46. The computer-readable storage medium of claim 38, wherein calculating a market value for an item in the product specification data set includes applying one or more pre-defined variables to the metric data in response to the one or more parameters specified in the product specification data set.

47. The computer-readable storage medium of claim 38, wherein the instructions, in response to execution, further cause the one or more computing devices to update the calculated market value of an item in the product specification data set by obtaining updated metric data from at least one source for the item in the product specification data set, wherein the updated metric data includes one or more current market reference prices for the item, and calculating an updated market value of the item in the product specification data set.

48. The computer-readable storage medium of claim 47, wherein the instructions, in response to execution, further cause the one or more computing devices to display the updated market value, wherein the display of the updated market value is expandable to expose calculation detail.

49. A computer-implemented method for evaluating the market value of items, the method comprising:

receiving, by a computer, one or more price data sets, wherein each price data set specifies at least one item defined by two or more parameters, or a plurality of items that vary in accordance with at least one parameter, and price data corresponding to the item or items in the price data sets;

obtaining metric data from at least one source, wherein the metric data includes market reference data responsive to the items in the one or more price data sets; and

using the market reference data to calculate a market value for each of the items in the one or more price data sets for comparison.

50. The method of claim 49, further comprising:

determining a comparison value by comparing the price data for an item in the one or more price data sets to the item'"'"'s calculated market value; and

communicating the comparison value to at least one output.

51. The method of claim 49, wherein the one or more price data sets include a quantity for the item or items in the price data sets, the method further comprising calculating a market value total for each price data set by:

multiplying the calculated market value per item by the quantity of the item, producing a market value total per item; and

summing each item'"'"'s market value total across all items in the price data set, to produce a market value total for the price data set.

52. The method of claim 51, further comprising comparing the price data sets by their calculated market value total, wherein comparing includes ranking or grouping the price data sets by their calculated market value total.

53. The method of claim 52, further comprising dividing the price data of a price data set by the data set'"'"'s calculated market value total, producing a ratio or index value.

54. The method of claim 49, wherein a parameter pertains to a grade, a rating measure, a species, a type, a quantity, a size, a tally, a location, a method of delivery, a delivery date, a payment term, or a warranty.

55. The method of claim 54, wherein the delivery date includes contemporaneous on or before delivery or a forward price with one or more delivery dates in the future.

56. The method of claim 54, wherein the payment term includes terms of credit.

57. The method of claim 49, wherein at least one of the price data sets specifies a price in the future that is defined as a formula of, and/or derived from, one or more prices to be reported in the future.

58. The method of claim 49, further comprising verifying that a unit of measure for an item in the market reference data is equal to the unit of measure of the item as specified in a price data set, and if not equal, mathematically converting the market reference data for the item according to the unit of measure in the price data set.

59. The method of claim 49, further comprising, mathematically normalizing a unit of measure for the one or more items or parameters in the price data sets and the corresponding metric data, to a standardized or common unit of measure.

60. The method of claim 49, wherein the market reference data represents comparable current market prices for one or more items in the price data sets.

61. The method of claim 49, further comprising displaying the calculated market value, wherein the display of the calculated market value is expandable to expose calculation detail.

62. The method of claim 49, wherein an item pertains to a physical product, a raw material, an intangible product, a service, or a combination thereof.

63. The method of claim 49, wherein a price data set represents a bundled product, a tally, a list, or an assembly of component items.

64. The method of claim 49, further comprising updating the market value of an item in a price data set by obtaining updated metric data from at least one source for the item in the price data set, wherein the updated metric data includes current market reference data for the item, and calculating an updated market value for the item in the price data set.

65. The method of claim 64, further comprising comparing the updated market value to a prior or base market value, and communicating the comparison to at least one output.

66. The method of claim 65, wherein the comparison represents a percent of the prior or base market value for the item and/or the price data set.

67. The method of claim 65, wherein the comparison is a ratio or index calculated by dividing the updated market value by the prior or base market value.

68. The method of claim 67, wherein a display of the updated market value and/or the ratio or index is expandable to expose calculation detail.

69. The method of claim 49, further comprising obtaining alternate metric data from one or more sources, wherein the alternate metric data includes price data indicative of a market price for a modified or substitute item for an item in the price data set.

70. The method of claim 69, further comprising comparing the market price of the modified or substituted item to the item price data specified in the price data set.

71. The method of claim 49, wherein calculating a market value for an item includes applying one or more pre-defined variables to the metric data in response to one or more of the parameters specified in the price data set.

72. The method of claim 50, wherein communicating the comparison value includes outputting one or more visual representations of the comparison value in the form of a table, chart, or graph.

73. The method of claim 50, wherein a change in a relative relationship or correlation of two or more calculated market values is communicated to the at least one output.

74. A non-transitory computer-readable storage medium having executable instructions stored thereon, wherein the instructions, in response to execution by one or more computing devices, cause the one or more computing devices to:

receive one or more price data sets, wherein each price data set specifies at least one item defined by two or more parameters, or a plurality of items that vary in accordance with at least one parameter, and price data corresponding to the item or items in the price data sets;

obtain metric data from at least one source, wherein the metric data includes market reference data responsive to the items in the one or more price data sets; and

use the market reference data to calculate a market value for each of the items in the one or more price data sets for comparison.

75. The computer-readable storage medium of claim 74, wherein the one or more price data sets include a quantity for the item or items in the price data sets, and wherein the instructions, in response to execution, further cause the one or more computing devices to calculate a market value total for each of the one or more price data sets by:

multiplying the calculated market value per item by the quantity of the item, producing a market value total per item; and

summing each item'"'"'s market value total across all items in the price data set, to produce a market value total for the price data set.

76. The computer-readable storage medium of claim 75, wherein the instructions, in response to execution, further cause the one or more computing devices to compare the price data sets by their calculated market value total, wherein comparing includes ranking or grouping the price data sets by their calculated market value total.

77. The computer-readable storage medium of claim 74, wherein a parameter pertains to a grade, a rating measure, a species, a type, a quantity, a size, a tally, a location, a method of delivery, a delivery date, a payment term, or a warranty.

78. The computer-readable storage medium of claim 74, wherein an item pertains to a physical product, a raw material, an intangible product, a service, or a combination thereof.

79. The computer-readable storage medium of claim 74, wherein the market reference data represents comparable current market prices for the items in the one or more price data sets.

80. The computer-readable storage medium of claim 74, wherein the instructions, in response to execution, further cause the one or more computing devices to verify that a unit of measure for an item in the market reference data is equal to the unit of measure of the item as specified in the price data set, and if not equal, then mathematically convert the market reference data for the item according to the unit of measure in the price data set.

81. The computer-readable storage medium of claim 74, wherein the instructions, in response to execution, further cause the one or more computing devices to mathematically normalize a unit of measure for the items and/or parameter in the one or more price data sets and the corresponding metric data to a standardized or common unit of measure.

82. The computer-readable storage medium of claim 74, wherein using the market reference data to calculate a market value for an item includes applying one or more pre-defined variables to the market reference data in response to the one or more parameters in the price data set.

83. The computer-readable storage medium of claim 74, wherein the instructions, in response to execution, further cause the one or more computing devices to:

update the market value of an item in a price data set by obtaining updated metric data from at least one source for the item in the price data set, wherein the updated metric data includes current market reference data for the item; and

calculate an updated market value for the item in the price data set.

84. The computer-readable storage medium of claim 83, wherein the instructions, in response to execution, further cause the one or more computing devices to display the updated market value, wherein the display of the updated market value is expandable to expose calculation detail.

85. A computer-implemented method for evaluating the market value of items, the method comprising:

receiving, by a computer, one or more product specification data sets and/or price data sets, wherein each data set specifies at least one item defined by two or more parameters, or a plurality of items that vary in accordance with at least one parameter; and

for each data set;

obtaining metric data from at least one source, wherein the metric data includes one or more market reference prices responsive to the items in the data set; and

using the metric data to calculate a market price for each item in the one or more product specification data sets or price data sets for comparison.

86. The method of claim 85, wherein the metric data is limited to market reference prices that resulted in a purchase.

87. The method of claim 85, wherein a current market reference price is used to calculate the market price.

88. The method of claim 85, further comprising using an item'"'"'s calculated market price, at least in part, to:

set or reset a selling price for the item;

estimate replacement costs;

estimate cost of direct inputs to production;

generate a competitive market price comparison;

price a bid or proposal;

or price a contract to current market value.

89. The method of claim 85, wherein obtaining metric data includes applying one or more pre-defined variables to the metric data in response to a parameter value specified in the data set.

90. The method of claim 85, wherein the price data sets include price data corresponding to the items in the price data sets, the method further comprising, by a computer:

comparing the item price data in each of the price data sets to the item'"'"'s calculated market price;

based on the comparison, generating a comparison value; and

communicating the comparison value to at least one output.

91. The method of claim 85, further comprising calculating a market price total for each data set by:

multiplying the calculated market price per item by the quantity of the item, producing a market price total per item; and

summing each item'"'"'s market price total across all items in the data set, to produce a market price total for the data set.

92. The method of claim 91, further comprising, by a computer, comparing the data sets by their calculated market price total, wherein comparing includes ranking or grouping the data sets by their market price total.

93. The method of claim 91, wherein the price data sets include price data corresponding to the items in the price data sets, the method further comprising dividing the price data of a price data set by the data set'"'"'s calculated market price total, producing a ratio or index value.

94. The method of claim 85, wherein a parameter pertains to a grade, a rating measure, a species, a type, a quantity, a size, a tally, a location, a method of delivery, a delivery date, a payment term, or a warranty.

95. The method of claim 94, wherein the delivery date includes contemporaneous on or before delivery or a forward price with one or more delivery dates in the future.

96. The method of claim 94, wherein the payment term includes terms of credit.

97. The method of claim 85, wherein at least one of the price data sets specifies a price in the future that is defined as a formula of, and/or derived from, one or more prices to be reported in the future.

98. The method of claim 85, further comprising mathematically normalizing a unit of measure for the items or parameters in a data set or the metric data to a standardized or common unit of measure.

99. The method of claim 85, further comprising displaying the calculated market price, wherein the display of the calculated market price is expandable to expose calculation detail.

100. The method of claim 85, wherein an item pertains to a physical product, a raw material, an intangible product, a service, or a combination thereof.

101. The method of claim 85, wherein at least one of the data sets represents a bundled product, a tally, a list, or an assembly of component items.

102. The method of claim 85, further comprising, by a computer, updating the market price of an item in a data set by obtaining updated metric data from at least one source for the item in the data set, wherein the updated metric data includes a current market reference price for the item, and calculating an updated market price for the item in the data set.

103. The method of claim 102, further comprising, by a computer, comparing the updated market price to a prior or base market price, and communicating the comparison to at least one output.

104. The method of claim 103, wherein the comparison represents a percent of the prior or base market price.

105. The method of claim 103, wherein the comparison is a ratio or index calculated by dividing the updated market price by the prior or base market price.

106. The method of claim 105, wherein a display of the updated market price and/or the ratio or index is expandable to expose calculation detail.

107. A non-transitory computer-readable storage medium having executable instructions stored thereon, wherein the instructions, in response to execution by one or more computing devices, cause the one or more computing devices to:

receive one or more product specification data sets and/or price data sets, wherein each data set specifies at least one item defined by two or more parameters, or a plurality of items that vary in accordance with at least one parameter;

obtain metric data from at least one source, wherein the metric data includes one or more market reference prices responsive to the items in each data set; and

using the metric data, calculate a market price for each of the items in the one or more product specification data sets or price data sets for comparison.

108. The computer-readable storage medium of claim 107, further comprising calculating a market price total for each data set by:

multiplying the calculated market price per item by the quantity of the item, producing a market price total per item; and

summing each item'"'"'s market price total across all items in the data set, to produce a market price total for the data set.

109. The computer-readable storage medium of claim 108, wherein the instructions, in response to execution, further cause the one or more computing devices to compare the data sets by their calculated market price total, wherein comparing includes ranking or grouping the data sets by their market price total.

110. The computer-readable storage medium of claim 107, wherein the instructions, in response to execution, further cause the one or more computing devices to mathematically normalize a unit of measure for the items or parameters in a data set or in the metric data to a standardized or common unit of measure.

111. The computer-readable storage medium of claim 107, wherein the instructions, in response to execution, further cause the one or more computing devices to update the market price of an item in a data set by obtaining updated metric data from at least one source for the item in the data set, wherein the updated metric data includes a current market reference price for the item, and calculating an updated market price for the item in the data set.

112. The computer-readable storage medium of claim 111, wherein the instructions, in response to execution, further cause the one or more computing devices to compare the updated market price to a prior or base market price, and communicate the comparison to at least one output.