Patent Number: 8,442,888

Title: Managing and evaluating price data for purchasing

Abstract: A method for evaluating price data includes receiving a product specification data set that identifies different items. Also received are price data sets that include items and corresponding price data. For each price data set, metric data for each item is obtained. The metric data includes one or more market reference prices for the items in the price data set. Using the metric data, a market value of each item in the price data set is calculated for comparison to the price data in the price data set. The method may also include comparing the price data in the price data set to the calculated market value to generate a comparison value. In another embodiment, metric data is obtained for each item in the product specification data set, and a market value of each item is calculated for comparison to the price data in the price data sets.

Inventors: Hansen; Valerie (Racine, WI)

Assignee: BuyMetrics, Inc.

International Classification: G06Q 40/00 (20120101)

Expiration Date: 2021-05-14 0:00:00