System and method for 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. 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.
1. A system, comprising:
a vehicle data system coupled to one or more computer devices over a network, the vehicle data system comprising:
a data gathering module to:
obtain historical transaction data from a set of data sources coupled to the vehicle data system over the network, wherein the historical transaction data comprises data on vehicle transactions;
a processing module, the processing module to:
determine a plurality of sets of historical transaction data, where each of the plurality of sets of historical transaction data is associated with a vehicle configuration, and
determine pricing data corresponding to a specified vehicle configuration by applying one or more models to the set of historical transaction data associated with the specified vehicle configuration, wherein the pricing data includes a set of transaction prices and one or more quantifiable price ranges determined based on the set of historical transaction data associated with the specified vehicle configuration; and
an interface module to:
receive the specified vehicle configuration from a user at a computing device, and
generate an interface based on the pricing data, wherein the generation of the interface is initiated substantially simultaneously to the reception of the specified vehicle configuration and the interface is configured to present the set of transaction prices and the quantifiable price ranges, and wherein the quantifiable price ranges are presented relative to the set of transaction prices.
2. The system of claim 1 , wherein the one or more models include a dealer cost model or a price ratio model.
3. The system of claim 2 , wherein the dealer cost model is one of a set of dealer cost models, each dealer cost model associated with a manufacturer.
4. The system of claim 3 , wherein the dealer cost model is determined by determining an equation for deriving a holdback associated with a dealer cost relationship.
5. The system of claim 4 , wherein the equation is determined by selecting the equation from a set of equations, each equation of the set of equations associated with a vehicle invoice price for the manufacturer and wherein the selected equation is most consistent of the set of equations across all vehicle invoice prices.
6. The system of claim 1 , wherein the price ratio model is of the form f(x)=Σ i=0 n Σ k=0 m (β i X i X bk ) where X i signifies global variables, X bk signifies bin-level variables for a specific bin b of historical transaction data, and β i 's are coefficients.
7. The system of claim 1 , where the processing module further determines an upfront price for the specified vehicle configuration and the interface presents the upfront price in the interface in association with the one or more quantifiable prices and the transaction price based data.
8. A method, comprising:
at a vehicle data system coupled to-one or more computer devices over a network: providing a data gathering module to:
obtain historical transaction data from a set of data sources coupled to the vehicle data system over the network, wherein the historical transaction data comprises data on vehicle transactions;
providing a processing module to:
determine a plurality of sets of historical transaction data, where each of the plurality of sets of historical transaction data is associated with a vehicle configuration, and
determine pricing data corresponding to a specified vehicle configuration by applying one or more models to the set of historical transaction data associated with the specified vehicle configuration, wherein the pricing data includes a set of transaction prices and one or more quantifiable price ranges determined based on the set of historical transaction data associated with the specified vehicle configuration; and
providing an interface module to:
receive the specified vehicle configuration from a user at a computing device, and
generate an interface based on the pricing data, wherein the generation of the interface is initiated substantially simultaneously to the reception of the specified vehicle configuration and the interface is configured to present the set of transaction prices and the quantifiable price ranges, and wherein the quantifiable price ranges are presented relative to the set of transaction prices.
9. The method of claim 8 , wherein the one or more models include a dealer cost model or a price ratio model.
10. The method of claim 9 , wherein the dealer cost model is one of a set of dealer cost models, each dealer cost model associated with a manufacturer.
11. The method of claim 10 , wherein the dealer cost model is determined by determining an equation for deriving a holdback associated with a dealer cost relationship.
12. The method of claim 11 , wherein the equation is determined by selecting the equation from a set of equations, each equation of the set of equations associated with a vehicle invoice price for the manufacturer and wherein the selected equation is most consistent of the set of equations across all vehicle invoice prices.
13. The method of claim 8 , wherein the price ratio model is of the form f(x)=Σ i=0 n Σ k=0 m (β i X i X bk ) where X i signifies global variables, X bk signifies bin-level variables for a specific bin b of historical transaction data, and β i 's are coefficients.
14. The method of claim 8 , wherein the processing module further determines an upfront price for the specified vehicle configuration and the interface presents the upfront price in the interface in association with the one or more quantifiable prices and the transaction price based data.
15. A non-transitory computer readable medium, comprising: instructions for:
providing a data gathering module to:
obtain historical transaction data from a set of data sources coupled to a vehicle data system over the network, wherein the historical transaction data comprises data on vehicle transactions;
providing a processing module to:
determine a plurality of sets of historical transaction data, where each of the plurality of sets of historical transaction data is associated with a vehicle configuration, and
determine pricing data corresponding to a specified vehicle configuration by applying one or more models to the set of historical transaction data associated with the specified vehicle configuration, wherein the pricing data includes a set of transaction prices and one or more quantifiable price ranges determined based on the set of historical transaction data associated with the specified vehicle configuration; and
providing an interface module to:
receive the specified vehicle configuration from a user at a computing device, and
generate an interface based on the pricing data, wherein the generation of the interface is initiated substantially simultaneously to the reception of the specified vehicle configuration and the interface is configured to present the set of transaction prices and the quantifiable price ranges, and wherein the quantifiable price ranges are presented relative to the set of transaction prices.
16. The non-transitory computer readable medium of claim 15 , wherein the one or more models include a dealer cost model or a price ratio model.
17. The non-transitory computer readable medium of claim 16 , wherein the dealer cost model is one of a set of dealer cost models, each dealer cost model associated with a manufacturer.
18. The non-transitory computer readable medium of claim 17 , wherein the dealer cost model is determined by determining an equation for deriving a holdback associated with a dealer cost relationship.
19. The non-transitory computer readable medium of claim 18 , wherein the equation is determined by selecting the equation from a set of equations, each equation of the set of equations associated with a vehicle invoice price for the manufacturer and wherein the selected equation is most consistent of the set of equations across all vehicle invoice prices.
20. The non-transitory computer readable medium of claim 15 , wherein the price ratio model is of the form f(x)=Σ i=0 n Σ k=0 m (β i X i X bk ) where X i signifies global variables, X bk signifies bin-level variables for a specific bin b of historical transaction data, and β i 's are coefficients.
21. The non-transitory computer readable medium of claim 15 , wherein the processing module further determines an upfront price for the specified vehicle configuration and the interface presents the upfront price in the interface in association with the one or more quantifiable prices and the transaction price based data.