System And Method For Ranking Items
A system and method for ranking items is disclosed. In one embodiment, the items constitute offerings offered by at least one on-line vendor. The system includes a ranking module that estimates the likelihood that a user will select the offerings and the likelihood that the user will purchase the items offered in the offerings. Based on this information, the ranking module calculates the expected revenue to be generated by the offerings. The ranking module then ranks the offerings relative to one another so as to increase income received by the system administrator.
1 . A method of operating a ranking website affiliated with a first entity to rank offerings offered by at least one on-line vendor, wherein each offering has associated with it a revenue estimated to be generated for the first entity, the method comprising:
estimating, with the ranking website, a first purchase likelihood that corresponds to the likelihood that a user will click on a link and purchase an item offered in a first offering from an on-line vendor;
calculating, with the ranking website, an estimated first purchase commission revenue using the first purchase likelihood and a commission to be received by the first entity when the user purchases the item offered in the first offering; and
comparing the estimated revenues associated with the offerings and ranking, with the ranking website, the first offering relative to another offering so as to increase income received by the first entity;
wherein the estimated revenue associated with the first offering comprises the first purchase commission revenue.
2 . The method of claim 1 , further comprising:
estimating, with the ranking website, a second purchase likelihood that corresponds to the likelihood that the user will click on a link and purchase an item offered in a second offering from an on-line vendor; and
calculating, with the ranking website, an estimated second purchase commission revenue using the second purchase likelihood and a commission to be received by the first entity when the user purchases the item offered in the second offering;
wherein the estimated revenue associated with the second offering comprises the second purchase commission revenue.
3 . The method of claim 1 , wherein the estimated revenue associated with the first offering also includes at least one of (a) a fee to be received by the first entity when the first offering is displayed to a user, and (b) an estimated click revenue calculated using a likelihood that a user will click on a link associated with the first offering and a fee to be received by the first entity when the user clicks on the link.
4 . The method of claim 1 , wherein the purchase commission comprises at least one of a flat fee and a percentage of the price of a purchased item.
5 . The method of claim 1 , wherein the purchase likelihood is based on user history data.
6 . The method of claim 5 , wherein the user history data is weighted by at least one of weighing recent user history data more heavily than older user history data, and weighing user history data regarding users with a similar demographic background to a current user more heavily than other user history data.
7 . The method of claim 1 , further comprising:
receiving a search parameter entered by a user;
wherein offerings to be ranked link to websites of on-line vendors with offerings matching the search parameter.
8 . The method of claim 1 I, wherein the ranked offerings that are displayed to the user are displayed in a list.
9 . The method of claim 8 , wherein the ranked offerings that are displayed to the user have associated with them respective displayed vendor logo images.
10 . A system affiliated with a first entity that ranks offerings offered by at least one on-line vendor, wherein each offering has associated with it a revenue estimated to be generated for the first entity, comprising:
a first offering from an on-line vendor;
a second offering from an on-line vendor; and
a ranking module stored in a computer readable storage medium, wherein the ranking module:
estimates a first purchase likelihood that corresponds to the likelihood that a user will click on a hyperlink associated with the first offering and purchase an item offered in the first offering,
calculates an estimated first purchase commission revenue using the first purchase likelihood and a commission to be received by the first entity when the user purchases the item offered in the first offering,
estimates a second purchase likelihood that corresponds to the likelihood that the user will click on a hyperlink associated with the second offering and purchase an item offered in the second offering,
calculates an estimated second purchase commission revenue using the second purchase likelihood and a commission received by the first entity when the user purchases the item offered in the second offering, and
compares the estimated revenues associated with the offerings and ranks the first offering relative to the second offering so as to increase income received by the first entity;
wherein the estimated revenues comprise purchase commission revenues associated with the offerings.
11 . The system of claim 10 , wherein the estimated revenue associated with each offering also includes at least one of (a) a fee to be received by the first entity when the offering is displayed to a user, and (b) an estimated click revenue calculated using a likelihood that a user will click on the hyperlink associated with the offering and a fee to be received by the first entity when the user clicks on the hyperlink.
12 . The system of claim 10 , wherein the purchase commission comprises at least one of a flat fee and a percentage of the price of a purchased item.
13 . The system of claim 10 , wherein the purchase likelihood is based on user history data.
14 . The system of claim 13 , wherein the user history data is weighted by at least one of weighing recent user history data more heavily than older user history data, and weighing user history data regarding users with a similar demographic background to a current user more heavily than other user history data.
15 . The system of claim 10 , further comprising:
receiving a search parameter entered by a user;
wherein offerings to be ranked link to websites of on-line vendors with offerings matching the search parameter.
16 . The system of claim 10 , wherein the ranked offerings that are displayed to the user are displayed in a list.
17 . The system of claim 16 , wherein the ranked offerings that are displayed to the user have associated with them respective displayed vendor logo images.
18 . A system affiliated with a first entity that ranks offerings offered by at least one on-line vendor, wherein each offering has associated with it a revenue estimated to be generated for the first entity, comprising:
a first offering from an on-line vendor;
a second offering from an on-line vendor; and
a ranking module stored in a computer readable storage medium, wherein the ranking module:
estimates a first purchase likelihood that corresponds to the likelihood that a user will click on a hyperlink associated with the first offering and purchase an item offered in the first offering,
calculates an estimated first purchase commission revenue using the first purchase likelihood and a commission to be received by the first entity when the user purchases the item offered in the first offering,
estimates a second purchase likelihood that corresponds to the likelihood that the user will click on a hyperlink associated with the second offering and purchase an item offered in the second offering,
calculates an estimated second purchase commission revenue using the second purchase likelihood and a commission received by the first entity when the user purchases the item offered in the second offering, and
compares the estimated revenues associated with the offerings and ranks the first offering relative to the second offering so as to increase income received by the first entity,
wherein each estimated revenue comprises a purchase commission revenue associated with the offering and an estimated click revenue calculated using a likelihood that a user will click on the hyperlink associated with the offering and a fee to be received by the first entity when the user clicks on the hyperlink.
19 . The system of claim 18 , wherein the estimated revenue associated with each offering also includes a fee to be received by the first entity when the first offering is displayed to a user an estimated click revenue calculated using a likelihood that a user.
20 . The system of claim 18 , wherein the purchase commission comprises at least one of a flat fee and a percentage of the price of a purchased item.
21 . The system of claim 18 , wherein the purchase likelihood is based on user history data.
22 . The system of claim 21 , wherein the user history data is weighted by at least one of weighing recent user history data more heavily than older user history data, and weighing user history data regarding users with a similar demographic background to a current user more heavily than other user history data.
23 . The system of claim 18 , further comprising:
receiving a search parameter entered by a user;
wherein offerings to be ranked link to websites of on-line vendors with offerings matching the search parameter.
24 . The system of claim 18 , wherein the ranked offerings that are displayed to the user are displayed in a list.
25 . The system of claim 24 , wherein the ranked offerings that are displayed to the user have associated with them respective displayed vendor logo images.