Market Position Visualization for Unique Item Comparison
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Solution Overview
Problem
Determining and visualizing the market relative positions and attributes of unique items, such as used vehicles and homes, is challenging due to the difficulty in selecting appropriate comparison items and displaying multiple attributes in a comprehensible manner.
Innovation Solution
A system generates electronic visualizations using a two-axis plot with markers showing listing prices and primary attribute values, incorporating similarity scores and predicted selling prices, to display relative similarity and attribute differences among items.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If multiple attributes are displayed to provide comprehensive market comparison information, then information completeness is improved, but visualization complexity increases making it harder to understand
Solution Approach 1:
The patent segments the visualization into distinct functional regions: a scatter plot area for displaying individual item markers with multiple attributes, and a separate heatmap area for showing market relative position information. This segmentation allows comprehensive information to be displayed while maintaining clarity by organizing different types of information in dedicated zones rather than attempting to display everything in a single complex chart.
Solution Approach 2:
The patent transitions from traditional two-dimensional scatter plots to a two-dimensional representation that encodes multiple dimensions of information through marker properties (size, color, shape) and spatial arrangement. The heatmap overlay adds another dimensional layer of information about market relative position, allowing the visualization to convey comprehensive attribute data without increasing the basic chart dimensionality, thus avoiding excessive complexity.
2Reliability
If detailed attribute comparisons are provided to enable informed decision-making, then decision quality is improved, but time required to process and understand the information increases
Solution Approach 1:
The patent employs color-coded markers and overlays to encode multiple attribute comparisons and market relative position information visually. By using color changes and variations in marker appearance to represent different attribute values and market positions, users can quickly perceive complex comparisons at a glance without needing to process detailed numerical data, thus improving decision quality while reducing information processing time.
Solution Approach 2:
The patent creates a simplified visual representation (copy) of complex market data through the heatmap overlay and coded markers. This visual copy translates complex attribute comparisons and market relative positions into intuitive graphical elements that can be processed rapidly by the human eye, enabling informed decision-making without requiring users to analyze detailed underlying data, thereby reducing processing time.
3Measurement precision
If the system analyzes and selects comparable items from large markets, then comparison relevance is improved, but computational complexity increases
Solution Approach 1:
The patent performs preliminary analysis and selection of comparable items before the user views the visualization. The system pre-processes market data to identify and select items that are relevant comparables, preparing this information in advance so that when the user views the visualization, only the most relevant comparison data is displayed. This preliminary action improves comparison relevance while managing computational complexity by performing heavy analysis beforehand rather than in real-time during user interaction.
Data Source
AI summary
The disclosure herein provides systems, methods, and devices for determining and displaying market relative positions and/or attributes of unique items. A visualization system for generating electronic visualizations of market-relative attributes of unique items comprises an item selection receiver, a visualization compilation engine, and a rendering engine.