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Automated system for adapting market data and evaluating the market value of items

  • US 9,542,689 B2
  • Filed: 08/08/2016
  • Issued: 01/10/2017
  • Est. Priority Date: 06/28/2000
  • Status: Expired due to Fees
First Claim
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1. In a networked environment, a system comprising:

  • a remotely-located 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 plurality of components including;

    a metric server adapter;

    a metrics application; and

    at least one communication 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 in the computer-readable medium;

    wherein;

    the metric server adapter includes governing logic programmed to manage at least one evaluation service and a plurality of predefined instructions for managing metric data, and to dynamically define transaction-specific instructions for adapting metric data;

    the metrics application is a production application programmed to manage one or more purchase and/or analysis processes and to invoke and execute the at least one evaluation service in coordination with the metric server adapter, and to manage one or more user interfaces that, in operation, facilitate interactions with the remotely-located server;

    the at least one communication application is programmed to manage one or more protocols that facilitate communications between one or more computing devices and the remotely-located server via the network interface; and

    in operation, in response to receipt of a triggering request from a user-agent computing device, the at least one communication application identifies an applicable protocol for communicating with the user-agent computing device and the metrics application receives from the user-agent computing device one or more product specification data sets, wherein each product specification data set identifies at least one item that is defined by a plurality of attributes having attribute data that includes two or more parameter values or a plurality of items having a plurality of attributes that differ by at least one parameter value;

    wherein receipt of at least one product specification data set triggers the metrics application to invoke the at least one evaluation service which causes the metrics application, for each product specification data set, to;

    obtain metric data from at least one data source accessible to the remotely-located server, wherein the obtained metric data represents market reference data for at least one responsive item having attributes corresponding to attributes of a respective item as identified in the product specification data set and includes market reference price data of a particular time or period of time, and wherein each responsive item in the metric data possesses a plurality of attributes having attribute data that includes at least one parameter value;

    evaluate the plurality of attributes of each responsive item in the metric data relative to the plurality of attributes for the respective item as identified in the product specification data set to dynamically discover a difference in the attribute data, wherein a discovered difference is disclosed to the metric server adapter which enables the metric server adapter to contextually define transaction-specific instructions for adapting the metric data for the respective item;

    normalize the metric data by executing, the transaction-specific instructions for adapting the metric data for the respective item, wherein execution of at least one transaction-specific instruction 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 respective item, transforming the market reference price data for the at least one responsive item and automatically producing one or more transaction-specific market reference price data values for the respective item; and

    generate one or more evaluation metrics that pertain to the at least one evaluation service for the at least one item as identified in each product specification data set, wherein each evaluation metric is based, at least in part, on one or a combination of the transaction-specific market reference data values produced for the respective item as identified in the product specification data set;

    wherein the metrics application is further programmed to communicate, in cooperation with the at least one communication application, at least one of the one or more evaluation metrics generated for the at least one item identified in the one or more product specification data sets to at least the user-agent computing device.

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