System and method for the utilization of pricing models in the aggregation, analysis, presentation and monetization of pricing data for vehicles and other commodities
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. In certain embodiments, one or more models may be applied over a set of historical transaction data associated with a vehicle configuration to determine pricing data. Some models may leverage incremental data in various conditions, including cases where fewer than a desired number of historical transactions are present in the bin of a specified vehicle, where fewer than, equal to, or more than a certain number of list prices for the specified vehicle available, and where no historical transaction data for new models is available.
1. A method, comprising
receiving, by a vehicle data system running on one or more server machines from a client device communicatively connected to the vehicle data system over a network, a request for pricing data, the request received from the client device containing a specified vehicle configuration of a desired vehicle;
retrieving historical transaction data obtained from a set of data sources coupled to the vehicle data system over the network, wherein the historical transaction data is collected simultaneously from each of the set of data sources and comprises data on vehicle transactions;
the vehicle data system determining whether pricing information associated with historical transactions of a set of vehicles corresponding to the desired vehicle within a certain time period in the historical transaction data is sufficient for computing the pricing data;
the vehicle data system selectively determining one or more price models based at least in part on conditions relating to the pricing information and on the determined sufficiency of the pricing information associated with the historical transactions of the set of vehicles corresponding to the desired vehicle within the certain time period in the historical transaction data;
the vehicle data system generating the pricing data utilizing the one or more price models; and
the vehicle data system responding in real-time to the request by generating an interface for presenting the pricing data for the desired vehicle via a user interface running on the client device.
2. The method according to claim 1 , wherein the one or more price models comprises a first price model for computing the pricing data in which a number of the historical transactions is less than a first threshold and a number of list prices for the set of vehicles is less than a second threshold.
3. The method according to claim 1 , wherein the one or more price models comprises a second price model for computing the pricing data in which a number of the historical transactions meets a first threshold and a number of list prices for the set of vehicles is less than a second threshold.
4. The method according to claim 1 , wherein the one or more price models comprises a third price model for computing the pricing data in which a number of the historical transactions is less than a first threshold and a number of list prices for the set of vehicles meets a second threshold.
5. The method according to claim 1 , wherein the one or more price models comprises a fourth price model for computing the pricing data in which the desired vehicle is not a new vehicle model and historical transaction data is available for a comparable make or model from a previous year.
6. The method according to claim 1 , wherein the one or more price models comprises a fifth price model for computing the pricing data in which the desired vehicle is a new vehicle model and historical transaction data is not available for a comparable make or model from a previous year.
7. The method according to claim 1 , wherein the one or more price models comprises a sixth price model for computing the pricing data in which a number of the historical transactions meets a first threshold and a number of list prices for the set of vehicles meets a second threshold.
8. A computer program product comprising at least one non-transitory computer readable medium storing instructions translatable by a vehicle data system running on one or more server machines to perform:
receiving, from a client device communicatively connected to the system over a network, a request for pricing data, the request received from the client device containing a specified vehicle configuration of a desired vehicle;
retrieving historical transaction data obtained from a set of data sources coupled to the vehicle data system over the network, wherein the historical transaction data is collected simultaneously from each of the set of data sources and comprises data on vehicle transactions;
determining whether pricing information associated with historical transactions of a set of vehicles corresponding to the desired vehicle within a certain time period in the historical transaction data is sufficient for computing the pricing data;
selectively determining one or more price models based at least in part on conditions relating to the pricing information and on the determined sufficiency of the pricing information associated with the historical transactions of the set of vehicles corresponding to the desired vehicle within the certain time period in the historical transaction data;
generating the pricing data utilizing the one or more price models; and
responding in real-time to the request by generating an interface for presenting the pricing data for the desired vehicle via a user interface running on the client device.
9. The computer program product of claim 8 , wherein the one or more price models comprises a first price model for computing the pricing data in which a number of the historical transactions is less than a first threshold and a number of list prices for the set of vehicles is less than a second threshold.
10. The computer program product of claim 8 , wherein the one or more price models comprises a second price model for computing the pricing data in which a number of the historical transactions meets a first threshold and a number of list prices for the set of vehicles is less than a second threshold.
11. The computer program product of claim 8 , wherein the one or more price models comprises a third price model for computing the pricing data in which a number of the historical transactions is less than a first threshold and a number of list prices for the set of vehicles meets a second threshold.
12. The computer program product of claim 8 , wherein the one or more price models comprises a fourth price model for computing the pricing data in which the desired vehicle is not a new vehicle model and historical transaction data is available for a comparable make or model from a previous year.
13. The computer program product of claim 8 , wherein the one or more price models comprises a fifth price model for computing the pricing data in which the desired vehicle is a new vehicle model and historical transaction data is not available for a comparable make or model from a previous year.
14. The computer program product of claim 8 , wherein the one or more price models comprises a sixth price model for computing the pricing data in which a number of the historical transactions meets a first threshold and a number of list prices for the set of vehicles meets a second threshold.
15. A system, comprising:
at least one processor;
at least one non-transitory computer readable medium storing instructions translatable by the at least one processor to perform:
receiving, from a client device communicatively connected to the system over a network, a request for pricing data, the request received from the client device containing a specified vehicle configuration of a desired vehicle;
retrieving historical transaction data obtained from a set of data sources coupled to the vehicle data system over the network, wherein the historical transaction data is collected simultaneously from each of the set of data sources and comprises data on vehicle transactions;
determining whether pricing information associated with historical transactions of a set of vehicles corresponding to the desired vehicle within a certain time period in the historical transaction data is sufficient for computing the pricing data;
selectively determining one or more price models based at least in part on conditions relating to the pricing information and on the determined sufficiency of the pricing information associated with the historical transactions of the set of vehicles corresponding to the desired vehicle within the certain time period in the historical transaction data;
generating the pricing data utilizing the one or more price models; and
responding in real-time to the request by generating an interface for presenting the pricing data for the desired vehicle via a user interface running on the liana device.
16. The system of claim 15 , wherein the one or more price models comprises a first price model for computing the pricing data in which a number of the historical transactions is less than a first threshold and a number of list prices for the set of vehicles is less than a second threshold.
17. The system of claim 15 , wherein the one or more price models comprises a second price model for computing the pricing data in which a number of the historical transactions meets a first threshold and a number of list prices for the set of vehicles is less than a second threshold.
18. The system of claim 15 , wherein the one or more price models comprises a third price model for computing the pricing data in which a number of the historical transactions is less than a first threshold and a number of list prices for the set of vehicles meets a second threshold.
19. The system of claim 15 , wherein the one or more price models comprises a fourth price model for computing the pricing data in which the desired vehicle is not a new vehicle model and historical transaction data is available for a comparable make or model from a previous year.
20. The system of claim 15 , wherein the one or more price models comprises a fifth price model for computing the pricing data in which the desired vehicle is a new vehicle model and historical transaction data is not available for a comparable make or model from a previous year.