System and method for the analysis of pricing data including pricing flexibility for vehicles and other commodities
US8781846B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Oct 1, 2010 |
| Grant date | Jul 15, 2014 |
| Priority date | — |
| Expiry date | Aug 28, 2032 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0278
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Embodiments disclosed herein can provide consumers with an effective tool for evaluating the negotiability of prices for vehicles in the marketplace. The tool may include a Price Flexibility Score which measures the elasticity of transaction prices by vehicle model. Specifically, a method may dynamically incorporate factors that affect price variance, convert those factors into variables, generate order statistics for each of the variables, apply a weighting factor to the variables to generate a price flexibility score for each make-model, and determine a negotiability index utilizing the price flexibility score. In one embodiment, the process of determining the negotiability index may be fully driven by a price flexibility model that incorporates a plurality of factors.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.