System and method for calculating and displaying price distributions based on analysis of transactions

Patent metadata

Field	Value
Publication number	US-10810609-B2
Application number	US-201916564808-A
Country	US
Kind code	B2
Filing date	Sep 9, 2019
Priority date	Sep 9, 2008
Publication date	Oct 20, 2020
Grant date	Oct 20, 2020

Abstract

Embodiments of systems and methods for the aggregation, analysis, display and monetization of pricing data for commodities in general, and which may be particularly useful applied to vehicles are disclosed. Specifically, in certain embodiments, historical transaction data associated with a particular vehicle configuration may be obtained and processed to determine pricing data associated with the vehicle configuration. The historical transaction data or determined pricing data may then be presented in an intuitive manner.

First claim

What is claimed is:

1. A vehicle data system comprising:
a processor;
a non-transitory computer readable medium comprising computer code for processing distributed vehicle data, the computer code comprising code for:
obtaining a set of price records from a first set of distributed sources, each price record associated with a corresponding vehicle identification number (VIN);
generating a dealer cost model for each of a set of manufacturers based on pricing data corresponding to that manufacturer, each dealer cost model defining holdback as a function of one or more additional pieces of pricing data;
binning the price records based on at least one vehicle attribute and geography;
generating a price ratio model for each bin based on multivariable regression analysis of a set of vehicle attributes in the price records corresponding to that bin, each price ratio model defining price ratio as a function of one or more vehicle attributes in the set of vehicle attributes;
applying a first set of rules to select a bin based on a set of user-specified vehicle attributes, the first set of rules selected based on at least one user-specified vehicle attribute and geography;
applying a second set of rules to select a dealer cost model based on at least one user-specified vehicle attribute;
applying the selected dealer cost model to a set of price records corresponding to the selected bin to generate a dealer cost;
applying the price ratio model corresponding to the selected bin to the set of price records corresponding to the selected bin to generate a price ratio;
generating an average price for a user-specified vehicle configuration as a function of dealer cost and price ratio;
generating one or more relative price ranges based on the average price for the user-specified vehicle configuration and a standard deviation of pricing data from the vehicle price records;
fitting a curve fit to price data from the set of vehicle price records corresponding to the selected bin;
providing a web page to a client computer, the web page having one or more input fields for a user to provide the user-specified vehicle configuration comprising the set of user-specified vehicle attributes;
receiving over a network the set of user-specified vehicle attributes; and
generating a responsive web page in response to the user that displays the curve with the relative price ranges visually represented on the curve.

2. The vehicle data system of claim 1 , wherein set of price records comprises historical transaction records.

3. The vehicle data system of claim 1 , wherein generating the dealer cost model for a particular manufacturer in the set of manufacturers comprises applying a set of equations to the pricing data corresponding to that manufacturer, each of the set of equations defining holdback as a function of other pricing data, and selecting the equation that holds most consistently with the pricing data corresponding to that manufacturer as the dealer cost model for that particular manufacturer.

4. The vehicle data system of claim 3 , further comprising code for applying a set of cleansing rules to the set of price records to remove one or more records of the set of price records.

5. The vehicle data system of claim 3 , further comprising code for applying a set of cleansing rules to the set of price data to replace vehicle data of one or more price records.

6. The vehicle data system of claim 1 , further comprising code for applying a set of binning rules to select the price records corresponding to the selected bin.

7. The vehicle data system of claim 6 , wherein the binning rules are configured to bin the price records by trim level or attribute level based on a number of price records associated with the selected bin.

8. A vehicle data system comprising:
a processor;
a non-transitory computer readable medium comprising computer code for processing distributed vehicle data, the computer code comprising code for:
obtaining a set of price records from a first set of distributed sources;
binning the set of price records based on at least one vehicle attribute;
generating a dealer cost model for each of a set of manufacturers based on pricing data corresponding to that manufacturer, each dealer cost model defining holdback as a function of one or more additional pieces of pricing data;
generating a price ratio model for each bin, each price ratio model comprising an output weighted variable set as a function of a set of vehicle attributes in the price records corresponding to that bin;
providing a web page to a client computer, the web page having one or more input fields for a user to provide a user-specified vehicle configuration comprising a set of user-specified vehicle attributes;
receiving over a network the set of user-specified vehicle attributes;
generating a responsive web page in response to the user submitting the user-specified vehicle attributes, generating the responsive web page comprising generating HTML to cause a browser at the client computer to display a curve about an average price for the user-selected configuration and relative price ranges, the curve based on applying a selected dealer cost model selected based on at least a user-specified manufacturer and a selected price ratio model corresponding to a selected bin selected based on at least a user-specified geography to a set of price records corresponding to the selected bin; and
communicating the responsive web page to the client computer.

9. The vehicle data system of claim 8 , wherein set of price records comprises historical transaction records.

10. The vehicle data system of claim 8 , wherein generating the dealer cost model for a particular manufacturer in the set of manufacturers comprises applying a set of equations to pricing data corresponding to that manufacturer, each of the set of equations defining holdback as a function of other pricing data, and selecting the equation that holds most consistently with the pricing data corresponding to that manufacturer as the dealer cost model for that particular manufacturer.

11. The vehicle data system of claim 10 , further comprising code for applying a set of cleansing rules to the set of price records to remove one or more records of the set of price records.

12. The vehicle data system of claim 11 , further comprising code for applying a set of cleansing rules to the set of price data to replace vehicle data of one or more price records.

13. The vehicle data system of claim 8 , further comprising code for applying a set of binning rules to select the enhanced price records corresponding to the selected bin.

14. The vehicle data system of claim 13 , wherein the binning rules are configured to bin the price records by trim level or attribute level based on a number of price records associated with the selected bin.

15. A vehicle data system comprising:
a processor;
a non-transitory computer readable medium comprising computer code for processing distributed vehicle data, the computer code comprising code for:
obtaining a set of price records from a first set of distributed sources;
applying cleansing rules to the set of price records to generate a set of cleansed price records, comprising:
applying a first set of rules to cleanse the price data, the first of rules that define transaction records to be removed as a function of one or more of fields;
applying a second set of rules to the set of price records to adjust margins of one or more of the set of price records;
generating a dealer cost model for each of a set of manufacturers based on pricing data corresponding to that manuf

Assignees

• Truecar Inc

Inventors

• Taira Thomas
• Painter Scott
• Taylor Chris
• Taylor Robert
• Swinson Michael D

Classifications

• G06Q30/0627 Primary

  by specifying product or service characteristics, e.g. product dimensions · CPC title

• G06Q30/0206 Primary

  Price or cost determination based on market factors · CPC title

• G06Q30/02

  Marketing; Price estimation or determination; Fundraising · CPC title

• G06Q30/0641

  utilising user interfaces specially adapted for shopping · CPC title

• G06Q30/0621

  by configuring or customising goods or services · CPC title