System and method for analyzing transactions at an electronic exchange
View Patent ↗The present invention can provide a market analysis system which includes a computer processor, a computer readable storage medium, a database stored on the computer readable storage medium including a set of transaction data and a software program stored on the computer readable storage medium. The software program can be executable by the computer processor to receive a transaction from an electronic exchange, store the transaction in the database as an addition to the set of transaction data, define a standard pricing group from the set of transaction data, and apply a statistical analysis to the standard pricing group.
1. A market analysis system comprising:
a computer processor;
a computer readable storage medium;
a database stored on the computer readable storage medium comprising aggregate transaction data; and
a software program stored on the computer readable storage medium executable by the processor to:
receive a set of transaction data from an electronic exchange where market transactions are conducted electronically via the Internet;
store the set of transaction data in the database;
categorize products and services from the aggregate transaction data into a plurality of standard pricing groups according to configuration information received at the market analysis system from one or more suppliers that participate in the electronic exchange, wherein the configuration information includes standard pricing group attributes, wherein the standard pricing group attributes include a value corresponding to a delivery term, a locale, a product, a service, a customer type, a time scale, or a sales channel;
determine at least one statistical analysis to be applied to one of the plurality of standard pricing groups;
define starting values and default parameters of the at least one statistical analysis to be applied to the standard pricing group;
apply the at least one statistical analysis to the standard pricing group to derive a set of results, wherein the set of results include a time-windowed relationship within the standard pricing group; and
communicate the set of results from the at least one statistical analysis to a supplier that participates in the electronic exchange.
2. The market analysis system of claim 1 , wherein the at least one statistical analysis comprises at least one of a demand function analysis, a time series analysis, a correlation analysis, a request for quote analysis and an auction analysis.
3. The market analysis system of claim 1 , wherein the software program is further executable to store the set of results from the at least one statistical analysis in an aggregate market database.
4. The market analysis system of claim 1 , wherein the software program is further executable to communicate the set of results from the at least one statistical analysis in a format compatible with a revenue management software program running on a computer of a supplier that participates in the electronic exchange.
5. The market analysis system of claim 1 , wherein the software program is further executable to communicate the set of results from the at least one statistical analysis in response to a user request from a supplier that participates in the electronic exchange.
6. The market analysis system of claim 1 , wherein the software program is further executable to return a summary of the set of transaction data.
7. A method for analyzing transactions at an electronic exchange, comprising:
receiving a request for a set of results from a supplier that participates in the electronic exchange;
receiving a set of transaction data from the electronic exchange where market transactions are conducted electronically via the Internet;
storing the set of transaction data in a database;
categorizing products and services in the electronic exchange into a plurality of standard pricing groups in the database according to configuration information, wherein the configuration information includes standard pricing group attributes, wherein the standard pricing group attributes include a value corresponding to a delivery term, a locale, a product, a service, a customer type, a time scale, or a sales channel;
determining at least one statistical analysis to be applied to one of the standard pricing groups in the database;
defining starting values and default parameters of the at least one statistical analysis to be applied to one of the standard pricing groups in the database;
applying at least one statistical analysis to the standard pricing group in the database to derive a set of results, wherein the set of results include a time-windowed relationship within the standard pricing group;
analyzing the set of transaction data stored in the database with respect to the standard pricing groups; and
returning the set of results to the supplier that participates in the electronic exchange.
8. The method of claim 7 , wherein the standard pricing group comprises an aggregation of data from the set of transaction data stored in the database.
9. The method of claim 7 , further comprising formatting the set of results of the at least one statistical analysis to be compatible with a revenue management software program running on a computer of a supplier that participates in the electronic exchange.
10. The method of claim 7 , further comprising communicating a summary of the set of transaction data from the at least one statistical analysis to a supplier that participates in the electronic exchange.
11. The method of claim 7 , further comprising applying the analysis to the standard pricing group according to a predefined schedule.
12. The method of claim 7 , wherein the at least one statistical analysis comprises at least one of a demand function analysis, a time series analysis, a correlation analysis, a request for quotes analysis and an auction analysis.
13. The method of claim 7 , further comprising storing the set of results in from the at least one at least one statistical analysis in an aggregate market database.
14. The method of claim 7 , wherein the set of transaction data includes aggregate transaction data.
15. A system for analyzing transactions at an electronic exchange comprising:
a software program stored on a tangible storage medium, executable by a computer processor to:
receive a set of transaction data from an electronic exchange where market transactions are conducted electronically via the Internet;
store the set of transaction data in a database;
categorize products and services from the aggregate transaction data into a plurality of standard pricing groups according to configuration information received at the market analysis system from one or more suppliers that participate in the electronic exchange, wherein the configuration information includes standard pricing group attributes, wherein the standard pricing group attributes include a value corresponding to a delivery term, a locale, a product, a service, a customer type, a time scale, or a sales channel;
determine at least one statistical analysis to be applied to one of the plurality of standard pricing groups;
define starting values and default parameters of the at least one statistical analysis to be applied to the standard pricing group;
categorize at least a portion of the set of transaction data into at least one standard pricing group defined by one or more attributes;
apply at least one statistical analysis to the standard pricing group to derive a set of results, wherein the set of results include a time-windowed relationship within the standard pricing group; and
communicate the set of results from the at least one statistical analysis to a supplier that participates in the electronic exchange.
16. The system of claim 15 , wherein the statistical analysis comprises at least one of a demand function analysis, a time series analysis, a correlation analysis, a request for quote analysis and an auction analysis.
17. The system of claim 15 , wherein the software program is further executable to communicate the set of results from the at least one statistical analysis in a format compatible with a revenue management software program running on a computer of a supplier that participates in the electronic exchange.
18. The system of claim 15 , wherein the software program is further executable to apply the at least one statistical analysis according to a predefined schedule.
19. The system of claim 15 , wherein the software program is further executable to communicate a summary of the set of transaction data to a supplier that participates in the electronic exchange.
20. The market analysis system of claim 1 , wherein the set of results from the at least one statistical analysis comprises an estimate of demand elasticity, an average price, a prediction about future market behavior, a supplier's performance, unsuccessful sales transactions, a supplier's willingness to sell, a probability to win a contract, an expected price distribution, an expected price development curve, or a combination thereof.
21. The method for analyzing transactions at an electronic exchange of claim 7 , wherein the set of results from the at least one statistical analysis comprises an estimate of demand elasticity, an average price, a prediction about future market behavior, a supplier's performance, unsuccessful sales transactions, a supplier's willingness to sell, a probability to win a contract, an expected price distribution, an expected price development curve, or a combination thereof.
22. The system for analyzing transactions at an electronic exchange of claim 15 , wherein the set of results from the at least one statistical analysis comprises an estimate of demand elasticity, an average price, a prediction about future market behavior, a supplier's performance, unsuccessful sales transactions, a supplier's willingness to sell, a probability to win a contract, an expected price distribution, an expected price development curve, or a combination thereof.