Abstract:
A product hierarchy database organizes company market performance and stock investment information by the products and services produced and offered by each competitor. The companies that produce each product/service are relationally linked to each of their products/services through records. An investment information service includes the product/service hierarchy database and makes it accessible to investor and analyst subscribers through a query system across the Internet. Data entry personnel continually load qualitative and quantitative information about companies and their products/services through a product hierarchy generator connected to the product/service hierarchy database. Subscribers can punch-through to query individual data items, and they can find out what relationships exist between all the important aspects of the companies and the products/services being tracked. The invention also provides for the creation of an index and corresponding index value for every product or service type in the database, which consists of a composite of all companies in a product or service area and whose index value can be measured and compared against any other product or service type index value.

Description:
This application claims benefit of provisional Ser. No. 60,098,777 filed Sep. 1, 1998. 
    
    
     BACKGROUND OF THE INVENTION 
     1. Technical Field 
     The invention relates to databases used for investment and market analysis. More particularly, the invention relates to investment and market analysis databases with product/service hierarchy structures. 
     2. Description of the Prior Art 
     Qualitative research and common sense can help an investor spot publicly traded companies that are under-valued or over-valued. An under-valued company is generally a good company in which to invest, and conversely an overvalued company is one that should be divested. It has been the present inventors&#39; experience that qualitative information often precedes any quantitative changes that significantly impact a publicly traded company&#39;s operating results. Thus, the ability to organize the qualitative information that is publicly available can provide investors with early signals to act before the rest of the investment community does. 
     In the prior art, qualitative research has been a time-intensive, inexact, and all too manual a process. Consequently, many investors do not focus on qualitative issues because there has been no practical tool for analyzing the large volume of available qualitative data. Nor has there been an easy way to organize such data into useful investment information. Such investors therefore act on the quantitative changes that impact a company&#39;s operating results, e.g. earnings per share. Early information about a company&#39;s quantitative changes is often classified as insider information, and is illegal to use in most situations. 
     It is important to provide investors with a way to filter the key qualitative criteria that is essential for accurate comparative valuation and peer-group analysis. What is lacking in the commercial marketplace is a tool for classifying each competitor&#39;s product or service, strategic partners, major customers, their end-user markets served, any regulatory agencies that affect the business, their particular business strategy, and other such significant data. 
     It would be advantageous to provide a product-hierarchy database that organizes accurate comparable industry, sector, sub-sector, and group market performance and stock investment information centered around the products produced and services performed of each company and their true competitors, with each product or service type created as an index. Such product hierarchy should enable the creation of an index for each product or service type which can be valued and measured. 
     SUMMARY OF THE INVENTION 
     The invention provides a product-hierarchy database that organizes accurate comparable industry, sector, sub-sector, and group market performance and stock investment information centered around the products produced and services performed of each company and their true competitors, with each product or service type created as an index. Such product hierarchy enables the creation of an index for each product or service type which can be valued and measured. 
     A product hierarchy database is provided that organizes and tracks company market performance and stock investment information by the products and services produced and offered by each competitor. The product hierarchy is created in the database independently of the companies. The companies that produce each product are then relationally linked to each product in the hierarchy that corresponds to a product produced or service performed by each company. An investment information service includes the product hierarchy database and makes it accessible to investor and analyst subscribers through a query system across the Internet. Data entry personnel continually load qualitative and quantitative information about companies and their products through a product hierarchy generator connected to the product hierarchy database. Subscribers can punch-through to query individual data items, and they can find out what relationships exist between all the important aspects of the companies and the products being tracked. The invention also provides performance criteria by industry, sector, sub-sector, and group, thereby allowing industry, sector, sub-sector, and group-based qualitative assessment. 
    
    
     BRIEF DESCRIPTION OF THE DRAWINGS 
     FIG. 1 is a block diagram illustrating a public company analysis system embodiment of the invention; 
     FIG. 2 is a block diagram illustrating a database structure embodiment of the invention; 
     FIG. 3 is a block diagram of a product hierarchy methodology of the invention at its top level providing, as an example, the whole of the application specific integrated circuit (ASIC) market; 
     FIG. 4 is a block diagram that illustrates another product hierarchy according to the invention, showing how the product hierarchy can be used to drill down to increase specificity of the product area or drill up for a broader look at the product market; 
     FIG. 5 is a block diagram that illustrates still another product hierarchy, beginning with broad product types at top level and scaling down and branching out to very specific products; 
     FIG. 6 is a block diagram of a database structure that allows the building of a product hierarchy where companies can be related or associated to an appropriate product level through the trademark/brandname of its products; and 
     FIG. 7 is a report showing relative industry, sector, sub-sector, and group trends according to the invention. 
    
    
     DETAILED DESCRIPTION OF THE INVENTION 
     The invention provides a product-hierarchy database that organizes accurate comparable industry, sector, sub-sector, and group market performance and stock investment information centered around the products produced and services performed of each company and their true competitors, with each product or service type created as an index. Such product hierarchy enables the creation of an index for each product or service type which can be valued and measured. 
     FIG. 1 illustrates a public company analysis system embodiment of the invention, and is referred to herein by the general reference numeral  100 . The system  100  operates over the Internet  102  and can support the securities investment informational needs of a plurality of investors, represented in FIG. 1 as investor network clients  104 ,  106 , and  108 . A query manager  110  appears as a Web page and interfaces the network clients  104 ,  106 , and  108  with a product hierarchy database  112 . Qualitative and quantitative information  114  and  116  about public traded companies and their products are input through a data entry system  118  to a product hierarchy generator  120 . The qualitative and quantitative information  114  and  116  can come from Web-based research or traditional research based on documents and publications. The product hierarchy generator  120  builds a relational database in the database  112  that is structured by product. 
     Such database  112  is useful in the analysis of competing companies and their markets through the use of database relationships that are based on product hierarchies. Users are able to conduct comprehensive comparative valuation analysis by industry, sector, sub-sector, and group product. Users can also obtain hierarchical industry, sector, sub-sector, and group profiles. A combination of qualitative and quantitative data queries can be supported. Database  112  preferably allows investors to conduct queries by searching on individual or multiple qualitative and quantitative categories. Database  112  preferably allows investors to conduct qualitative analysis of quantitative data and quantitative analysis of qualitative data. Database  112  can be used in securities analysis of publicly traded companies and to increase partnership investment performance. 
     An investment research database  112  provides qualitative and quantitative data for publicly traded companies in a single source accessible via the Internet. Database  112  supports industry, sector, sub-sector, and group hierarchical classifications based on specific products or services. Queries through the Internet  102  allow users to see how specific companies are positioned by group within a particular industry, sector, sub-sector, as well as relative industry, sector, sub-sector, and group by industry, sector, sub-sector, and group performance. 
     The proper creation of industries, sectors, sub-sectors, and groups, and the proper classification of companies are essential for accurate comparative valuation and peer group analysis. The product hierarchy generator  120  categorizes all companies into appropriate industries, sectors, sub-sectors, and groups, and product areas according to a hierarchy within their respective industries. In this way, investor users can get accurate peer group analysis, relative valuation comparisons, and qualitative queries within a chosen industry, sector, sub-sector, or group. The hierarchy is built based on products produced or services performed within industries, which is a bottoms-up approach to company classification. 
     FIG. 2 illustrates a database structure embodiment of the invention, and is referred to herein by the general reference numeral  200 . The database structure  200  is equivalent to the database  112  (FIG. 1) and comprises a quantitative module  202 , a qualitative module  204 , a product hierarchy  206 , a pricing module  208 , and a user registration module  210 . The quantitative module  202  includes one or more quantitative information records  212  that preferably have substantially all the data entry fields listed in Table I. Specialized applications may achieve good results using subsets of the information fields listed in Table I. 
     
       
         
               
             
               
               
               
             
           
               
                 TABLE I 
               
             
             
               
                   
               
               
                 (Quantitative Information) 
               
               
                 CO_ID(FK) 
               
               
                 RECORD_TYPE 
               
               
                 RECORD_NO 
               
               
                   
               
             
          
           
               
                 year 
                 quarter 
                 derived_data_processed_flag 
               
               
                 industr_code 
                 repno 
                 cusip 
               
               
                 ticker 
                 coname 
                 split_date 
               
               
                 split_factor 
                 currency_code 
                 currency_rate 
               
               
                 fplen 
                 fplenscf 
                 fptyp 
               
               
                 fpbegdt 
                 fpenddt 
                 updstatis 
               
               
                 updstatbs 
                 updstatcf 
                 restdtis 
               
               
                 restdtbs 
                 restdtcf 
                 fisperiod 
               
               
                 revenue 
                 interest_income_bank 
                 premiums_earned 
               
               
                 net_investment_income 
                 realized_gains_losses 
                 other_revenue 
               
               
                 total_revenue 
                 cost_of_revenue 
                 losses_benefits_adjustments 
               
               
                 amortization_of_policy_costs 
                 fuel_expense 
                 direct_operating_expenses 
               
               
                 selling_general_admin_expenses 
                 depreciation_and_amortization 
                 research_and_development 
               
               
                 interest_expense 
                 other_operating_expenses 
                 unusual_income_expenses 
               
               
                 interest_expense_bank 
                 loan_loss_provision 
                 total_expenses 
               
               
                 interest_income_non_operating 
                 interest_expense_non_operating 
                 interest_net_non_operating 
               
               
                 afudc 
                 non_interest_income 
                 non_interest_expense 
               
               
                 gain_loss_on_sale_of_assets 
                 other_net 
                 income_before_taxes 
               
               
                 income_taxes 
                 income_after_taxes 
                 minority_interest_is 
               
               
                 equity_interests_is 
                 preferred_dividends 
                 general_partner_distribution 
               
               
                 us_gap_adjustment 
                 misc_earnings_adjustment 
                 interest_adjust_primary_eps 
               
               
                 adj_inc_avail_to_cmn_prim_eps 
                 primary_eps_excl_xord_items 
                 discontinues_operations 
               
               
                 extraordinary_items 
                 accounting_change 
                 primary_ips_include_xord_items 
               
               
                 dividends_per_common_share 
                 primary_average_shares_outstnd 
                 full_dilution_adjustment 
               
               
                 fully_diluted_shares_outstnd 
                 fd_eps_excl_xord_items 
                 fd_eps_include_xord_items 
               
               
                 cash_and_equivalents 
                 cash_and_due_bank 
                 other_short_term_investments 
               
               
                 investments 
                 loans 
                 loan_loss_reserves 
               
               
                 other_interest_earning_assets 
                 accounts_receivable 
                 inventory 
               
               
                 prepayments_and_advances 
                 deferred_policy_acqsn_costs 
                 other_current_assets 
               
               
                 total_current_assets 
                 long_term_investments 
                 utility_plant 
               
               
                 utility_plant_depreciation 
                 utility_plant_net 
                 property_plant_equipment 
               
               
                 accum_depreciation_and_amort 
                 property_plant_equipment_net 
                 goodwill_intangibles 
               
               
                 deferred_charges 
                 other_assets 
                 other_long_term_assets 
               
               
                 total_assets 
                 accounts_payable 
                 short_term_debt 
               
               
                 deposits 
                 other_interest_bearing_liab 
                 policy_liabilities 
               
               
                 curr_port_ltd_cap_lease_oblig 
                 other_current_liabilities 
                 other_liabilities 
               
               
                 total_current_liabilities 
                 long_term_debt 
                 capitalized_lease_obligations 
               
               
                 tota_long_term_debt 
                 minority_interest_bs 
                 deferred_taxes 
               
               
                 other_long_term_liabilities 
                 total liabilities 
                 redeemable_preferred 
               
               
                 preferred_stock 
                 common_stock 
                 additional_paid_in_capital 
               
               
                 retained_earnings 
                 treasury_stock 
                 other_equity 
               
               
                 esop_debt_guarantee 
                 total_shareholder_equity 
                 shares_outstanding_period_end 
               
               
                 net_income_scf 
                 depreciation_scf 
                 amortization_scf 
               
               
                 deferred_taxes_indirect 
                 other_non_cash_items 
                 cash_receipts 
               
               
                 cash_payments 
                 cash_taxes_paid 
                 cash_interest_paid 
               
               
                 other_operating_cash_flows 
                 total_cash_from_operating_act 
                 capital_expenditures 
               
               
                 other_investing_cash_flows 
                 total_cash_from_investing_act 
                 dividends_paid 
               
               
                 purchase_or_sale_of_stock 
                 purchase_and_retirement_debt 
                 other_financing_cash_flows 
               
               
                 total_cash_from_financing_act 
                 exchange_rate_effects 
                 net_change_in_cash 
               
               
                 cash-interest_paid_indirect 
                 cash_taxes_paid_indirect 
                 depreciation_amortization_scf 
               
               
                 dividend_growth_5yr 
                 revenue_growth_5yr 
                 earnings_per_share_growth_5yr 
               
               
                 revenue_per_employee 
                 no_of_employees 
                 avg_square_feet_space 
               
               
                 sv_gross_profit 
                 sv_gross_margin 
                 sv_selling_gen_admin_percent 
               
               
                 sv_research_anddev_prcnt 
                 sv_total_expenses 
                 sv_oprtng_income 
               
               
                 sv_oprtin_margin 
                 sv_income_before_tax_margin 
                 sv_tax_rate 
               
               
                 sv_net_income_mrgn 
                 sv_long_term_debt_to_capital 
                 sv_long_term_debt_to_equity 
               
               
                 sv_total_dept_to_equity 
                 sv_workin_capital 
                 sv_curr_ratio 
               
               
                 sv_quick_ratio 
                 sv_oprtng_cash_flow_last_yr 
                 sv_roe_trailing_4_quarters 
               
               
                 sv_roe_last_5_fiscal_years 
                 sv_roe_last_quarter 
                 sv_roa_trailing_4_quarters 
               
               
                 sv_roa_last_5_fiscal_years 
                 sv_roa_last_quarter 
                 sv_total_capital 
               
               
                 sv_total_debt 
                 sv_roic_trailing_4_quarters 
                 sv_roic_last_5_fiscal_years 
               
               
                 sv_roic_last_quarter 
                 sv_cash_per_share 
                 sv_dso_last_quarter 
               
               
                 sv_dso_last_5_fiscal_years 
                 sv_inventory_turnover_1st_qtr 
                 sv_inventory_turnover_1st-yr 
               
               
                 sv_oprtng_income_to_assets_tr 
                 sv_book_value_per_share 
                 sv_oprtng_cash_flow_trailing 
               
               
                 sv_oprtng_cash_flow_share_tr 
                 sv_oprtng_cash_flow_share_lfy 
                 sv_pct_chng_gross_mrgn_seq 
               
               
                 sv_pct_chng_gross_mrgn_yoy 
                 sv_pct_chng_oprtng_mrgn_seq 
                 sv_pct_chng_oprtng_mrgn_yoy 
               
               
                 sv_pct_chng_income_mrgn_seq 
                 sv_pct_chng_income_mrgn_yoy 
                 sv_sales_per_share_trailing 
               
               
                 sv_sales_per_share_lst_5_yr 
                 sv_asset_turnover_trailing 
                 sv_asset_turnover 
               
               
                 sv_interest_coverage_lst_qtr 
                 sv_interest_coverage_lst_5_yr 
                 sv_revenue_growth_seq 
               
               
                 sv_revenue_growth_yoy 
                 sv_revenue_growth_1_year 
                 sv_earn_per_share_growth_yoy 
               
               
                 sv_earn_per_share_growth_seq 
                 sv_earn_per_share_growth_1_yr 
                 sv_1_yr_forward_eps_growth_rt 
               
               
                 sv_market_capitalization 
                 sv_current_price_to_earnings 
                 sv_historical_pe_ratio 
               
               
                 sv_forward_pe_ratio 
                 sv_price_to_book_value 
                 sv_price_to_sales_trailing 
               
               
                 sv_price_to_sales_5fyr 
                 sv_price_to_oprtng_cash_flow 
                 sv_price_to_free_cash_flow 
               
               
                 sv_current_pe_ratio_to_growth 
                 sv_forward_pe_ratio_to_growth 
                 sv_free_cf_per_share_tr 
               
               
                 sv_free_cf_per_share_lfy 
                 sv_price_to_free_cf_tr 
                 sv_avg_gross_ppe_per_employee 
               
               
                 sv_avg_gross_ppe_per_sqft 
                 sv_debt_to_mkt_cap 
                 sv_pct_chng_gross_mrgn_fy 
               
               
                 sv_pct_chng_oprtng_mrgn_fy 
                 sv_pct_chng_income_mrgn_fy 
               
               
                   
               
             
          
         
       
     
     The data entry system  118  (FIG. 1) is used to load quantitative information  116  (FIG. 1) about particular companies in each field listed in Table I. The abbreviations and acronyms listed here are merely examples, and it will be obvious to most readers what these fields each represent. Typically, the balance sheet, income, and cash flow statement line items from the company&#39;s quarterly announcements are included in the data. From this, it is possible to use spreadsheet programs to compute various key operating ratios important to the investment community. Other information structures can also be used in alternative embodiments of the invention. 
     The qualitative module  204  includes one or more company records  214 . Each such company record  214  preferably includes the data fields listed in Table II. There is a relational database linkage between the quantitative information records  212  and the company records  214 . 
     
       
         
               
             
               
               
               
             
           
               
                 TABLE II 
               
             
             
               
                   
               
               
                 (Company Record) 
               
               
                 ID 
               
               
                   
               
             
          
           
               
                 name 
                   
                   
               
               
                 type_code 
                 address_line_1 
                 address_line_2 
               
               
                 address_city 
                 address_state (fk) 
                 address_zip 
               
               
                 address_country(fk) 
                 phone_number 
                 phone_fax_number 
               
               
                 investor_contact_first_name 
                 investor_contact_last_name 
                 ictitle_ID(fk) 
               
               
                 auditors_opinion 
                 management_background 
                 legal_proceedings_flag 
               
               
                 legal_proceedings_notes 
                 number_of_employees 
                 web_site_address 
               
               
                 email_address 
                 minority_stub 
                 minority_stub_percent 
               
               
                 analysts_number 
                 description 
                 web_update_user_id 
               
               
                 web_update_password 
                 us_business_by_country (fk) 
                 us_business_percentage 
               
               
                 other_business_in_us 
                 other_business_percentage 
                 notes 
               
               
                 scffmtcode 
                 business_strategy_text 
                 last_quant_q_rec 
               
               
                 last_quant_y_rec 
               
               
                   
               
             
          
         
       
     
     Each company record  214  is associated within the qualitative module  204  with a country record  216 , a us_postal_states record  218 , an investor_contact_title record  220 , a company_geographic_activities record  222  that includes a geographic_area record  224  and an activity_type record  226 , a company_associations record  228  that includes an association_contact_type record  230  and a company_association_type record  232 , a company_markets record  234  with an end_user_market record  236 , a company_regulatories_agency record  238  with a regulatory_agency record  240 , a company_stock_exchanges record  242  with a stock_exchange record  244 , a company_management record  246  with a management_title record  248 , a company_business_strategies record  250 , and a business_strategy_type record  252 . All records  216 - 252  have relational database linkages to the company record  214 . 
     The country record  216  preferably includes a name field and a note field. The us_postal_states record  218  preferably includes a postal code field and a name field. The investor_contact_title record  220  preferably includes an identity (ID) field, a name field and a notes field. The company_geographic_activities record  222  preferably includes company identity (co_ID), activity_ID, geographical are (geoarea_ID), percent of business (percent), and notes fields. The geographic_area record  224  preferably includes identity (ID), name, and notes fields. The activity_type record  226  preferably includes identity (ID), name, and notes fields. The company_associations record  228  preferably includes identity (ID), contact name, investment percentage, company ID for and to, coassnty_ID, and conty_ID fields. The association_contact type record  230  preferably includes identity (ID), name, and notes fields. The company_association_type record  232  preferably includes name, and notes fields. The company_markets record  234  preferably includes company identity (co_ID), name, and object_ID fields. The end_user_market record  236  preferably includes identity (ID), name, and notes fields. The company_regulatories_agency record  238  preferably includes company identity (co_ID) and object ID fields. The regulatory_agency record  240  preferably includes identity (ID), name, and notes fields. The company_stock_exchanges record  242  preferably includes company identity (co_ID) and object ID fields. The stock_exchange record  244  preferably includes identity (ID), name, and notes fields. The company_management record  246  preferably includes company identity (co_ID), order number, title ID, manager name, manager compensation, and notes fields. The management_title record  248  preferably includes identity (ID), name, and notes fields. The company_business_strategies record  250  preferably includes company identity (co_ID) and object ID fields. The business_strategy_type record  252  preferably includes identity (ID), name, and notes fields. 
     The product hierarchy  206  has several records in a strict hierarchy that is built according to several critical rules. Such rules are described in detail below in connection with FIGS. 3-6. A company_products record  260  preferably includes fields for company ID, object ID, tradename, product-type ID, regulatory-agency stage ID, clinical stage ID, side effects, indications, identity (ID), and notes for every product or service that a particular company offers. A stage_of_development record  262  preferably includes identity (ID), product-type ID, name, and notes fields for every product or service that is recorded in the company_products record  260 . A product_type record  264  includes identity (ID), name, and notes field for every product or service that is recorded in the company_products record  260 . A product record  266  includes independent fields for its own identity (ID), its parent&#39;s identity in the product hierarchy, the product name, the total available market, the trend identity (trend_ID), and notes. Product_life_cycle, product_growth_trend, and product_trend records  268  include identity (ID), name, and notes fields. 
     A revenue/end user market function  290  contains a revenue table that includes a percentage figure, and contains an end user market table that includes a list of available end user markets. The revenue table and end user market table are linked to the company record  214  and the product hierarchy  266 . It is important to note that the revenue/end user market function may be linked to any level of the product hierarchy. This allows user selection of a most appropriate level in the product hierarchy to identify revenues and end user markets. 
     The product record  266  is unique in that it allows the construction of a hierarchy through the use of its parent identity field. 
     The pricing module  208  also comprises several records. A company_securities record  270  preferably includes identity (ID), company identity (co_ID), security type ID, CUSIP number, and ticker symbol fields. A security_type record  272  preferably includes identity (ID), name, and notes fields. A security_splits_history record  274  preferably includes company security identity (COSEC_ID), split date, and split factor fields. A security_prices_buffer record  276  preferably includes company security identity (COSEC_ID), stock symbol type, cusip number, ticker, last price, time of last price, 52-week high, 52-week low, earnings estimates, and price_changed_flag fields. A security_prices_intraday record  278  preferably includes identity (ID), name, and notes fields. A security_prices_history record  280  preferably includes price date, company security identity (COSEC_ID), last price, time of last price, 52-week high, 52-week low, earnings estimates, and price-changed-flag fields. 
     The user registration module  210  includes a subscriber (SV_user) record  282  and a user_type record  284 . The SV_user record  282  preferably includes user type ID, nickname, password, user name, phone, and e-mail fields. The user_type record  284  preferably includes fields for name and notes. The user registration module  210  is used to enroll and validate investor network-clients  104 ,  106 , and  108  (FIG. 1) when they log-on to the query manager  110  over the internet  102 . 
     In operation, a query can be constructed by query manager  110  (FIG. 1) to find all relations to a particular field content in a particular record. For example, the company_regulatories_agencies record  238  can be used to list all companies in the database  200  that share the same regulatory agencies. 
     The product hierarchy  206  (FIG. 2) includes a company_products record  260  with links to a stage_of_development record  262  and a product type record  264 . Each company_products record  260  is linked to one or more records  266  for each product, and each product life cycle, product_growth_trend, and product_trend record  268  is linked to one or more records  266  for each product. 
     The product hierarchy  206  includes all the products of all the companies in the database  200  in as many product records  266  as are necessary. The product hierarchy  206  can span all industry, sector, sub-sector, and groups and is based solely on the products or services that are produced by each competing company. 
     Fundamentally, each new product hierarchy chain is created in the database  200  according only to a product manufactured or a service performed, and must be completely independent of any other factor. A hierarchical breakdown within any industry, sector, sub-sector, or group is independent of the constituent companies themselves. Only their individual products and services matter. Accordingly, all such companies are associated at a particular product level based upon products manufactured or services performed and not dependent on a company&#39;s self-described business description. 
     Each such hierarchy begins at its top with broad product types, and scales down and branches out to very specific products. Any relationships that exist between product levels is preferably handled in a record, e.g. by assigning a parent identity and level number to each product. An unlimited number of product levels can be created in an industry, sector, sub-sector, or group within a product hierarchy. 
     When a new product level in a hierarchy is created, it is attached as a subset of a previous level or category and is related by association. Every other lower and subsequent product level is associated, linked, or related to some other higher level in the chain of the product hierarchy  206 , except at the highest level. 
     Two separate products, represented in two product records  266  on the same level, may be attached or related to a single parent or higher level in the product hierarchy  206 . Constructed this way, the two products can be related to one another. However, two products at the same level with the same parent are never directly linked or made dependent on the other. A product level can have an unlimited number of sub-product levels attached below it. 
     Consider FIG. 3. A product hierarchy  300  represents at its top level  302  the whole of the application specific integrated circuit (ASIC) market. The components of the ASIC market include, at lower levels, the programmable logic devices (PLD&#39;s) level  304 , a gate array level  306 , and a standard cell level  308 . Individual gate array products attached to gate array level  306  are produced by well-known companies: NEC, Toshiba, Texas Instruments, LSI Logic, and VLSI Systems. Individual standard cell products attached to standard cell level  308  are produced by LU, Toshiba, LSI Logic, and IBM. Lower levels are needed in the PLD industry, sector, sub-sector, and group, so a field programmable gate array (FPGA) level  310 , a bipolar PLD level  312 , and an eraseable PLD level  314  are needed in the product hierarchy  300 . The FPGA industry, sector, sub-sector, and group is further divided into a transistor FPGA level  316  and an antifuse FPGA level  318 . These two product areas include products from Xilinx, Altera, and LU, and also Actel, Quicklogic, and Cypress Logic, respectively. The eraseable PLD level  314  is split into complex PLD level  320  and a simple PLD level  322 . 
     FIG. 4 illustrates a product hierarchy  400  in a further example. A semiconductor level  402  includes an integrated circuits (IC) level  404  and a discrete devices level  406 . The IC level  404  is divided into a digital IC level  408  and an analog IC level  410 . The discrete devices level  406  has as its constituents, a diodes level  412 , a rectifiers level  414 , a transistors level  416 , and an opto-electronics level  418 . The digital level  408  is split between a metal-oxide semiconductor (MOS) level  420  and a digital bipolar level  422 . The MOS level  420  has beneath it a memory level  424 , a microcircuit level  426 , and a logic level  428 . The top of the ASIC level  302  (FIG. 3) could be attached to the logic level  428  (FIG. 4) in this example. The memory level  424  is further divided into a volatile memory level  430  and a non-volatile memory level  432 . 
     There is an important difference between the product hierarchy  206  and individual companies. The product hierarchy is created independent of companies. Products that make up the product hierarchy are called product levels. Individual company products are referred to as company products and are specific to the company itself. There are several data items that are also tied to the individual company specific products and include brandname or tradename, revenue percentage, and end-user markets. 
     FIG. 5 represents a generalized product hierarchy  500 . The product hierarchy begins with broad product types at top level “A”  502 , and scales down through levels  504 - 518  and branches out to very specific products. Companies can only be directly linked to the lowest level in the hierarchy, but are then identified with higher levels because the parent levels in the hierarchy are directly linked to the lower levels. The relationships that exist between product levels is preferably memorialized in one lookup record using a method of assigning a parent identity and level number to each product. An unlimited number of product levels  502 - 518  can be created in an industry, sector, sub-sector, and group within the product hierarchy  500 . When a new product level in the product hierarchy  500  is created, it then becomes a subset of the previous level/category and is related by association. With the exception of the highest level, every other lower and subsequent product level is associated/linked/related to some other higher level in the chain of the product hierarchy. 
     Referring to FIG. 5, a company cannot be attached to product level “D”  508   5  because a lower product level “G”  514  exists. A company may be attached to product level “G”  514  because it is a bottom level. Companies and other company product specific qualitative aspects can be attached to product level “I”  518 , for example. Thus, product level “H”  516  could have attached to it, product  1  of company  1  or product  1  of company  2  with tradename/brandname  1 . 
     A company, and thus the brandname or tradenames of its products, can only be attached, or associated at the lowest, node level of the product hierarchy. Any company may have multiple products with multiple brandname or tradenames assigned to the same level in the product hierarchy  206  of a particular industry, sector, sub-sector, or group. In addition, a company and its product&#39;s brandname or tradename may be attached at an unlimited number of lowest product levels in the product hierarchy, and across different industries, sectors, sub-sectors, and groups. An unlimited number of companies and thus products, brandnames or tradenames can be attached, associated to one lowest level in the product hierarchy  206 . A company with multiple products can exist at multiple product levels, and in multiple product hierarchies in multiple and different industries, sectors, sub-sectors, and groups. 
     Once a product level has been created, there cannot be a link between it and a company at a higher level. A company and its product brandname or tradename can only be linked at the lowest node of the product hierarchy  206 . In other words, a particular product record  266  that is named as a parent to another product record  266  cannot be attached to a company_products record  260 . Companies can be associated to higher levels by default due to the associations that are 3 created by the product hierarchy  206  itself through the parent relationships that the hierarchy uses. 
     In FIG. 6, a database structure  600  uses a product name record  602 , a company-product name or trademark/brandname record  604 , and a company name record  606 . Each record can then be freely associated with each other record and its individual records. 
     Referring once again to FIG. 2, when a node level in the product hierarchy  206  is created, there are two methods for inputting data that are mutually exclusive. In a first method, a company which has a product and a corresponding brandname or tradename can be attached to a lowest product level. This action thereafter defines that product level as the lowest level in the chain. In a second method, another product level is attached by creating a new level in the product hierarchy  206 . Once a company and its product has been assigned to a hierarchy level, it becomes associated at every higher level in the product hierarchy for that particular chain of connection by default. As a result, companies can be associated with the highest to the lowest hierarchy levels. 
     Database  200  hierarchically categorizes companies in company records  214  into appropriate industries, sub-industries, sectors, sub-sectors, and groups based solely upon their respective product or services. The product hierarchy  206  therefore is the only mechanism that defines how a company is to be categorized within an industry, sector, sub-sector, or group. This is a critical way in which the invention is distinguished over the prior art. 
     The result of this product hierarchy  206  and companies being attached at the lowest level is that proper industries, sectors, sub-sectors, and groups are created. The highest level in the product hierarchy would define the broadest industries, sectors, sub-sectors, and groups, with the greatest number of companies making up that industry, sector, sub-sector, or group. As one scales down the product hierarchy, industries, sectors, sub-sectors, and groups are narrowed, becoming more refined and specific, eventually getting down to the lowest levels with fewer companies. These industries, sectors, sub-sectors, and groups can then be looked at to track performance, relative to other industries, sectors, sub-sectors, and groups or individually on any quantitative and certain qualitative parameters. By definition, industries, sectors, sub-sectors, and groups are created at every product level in the product hierarchy. The central point is that any of these industries, sectors, sub-sectors, and groups can be evaluated on any quantitative and certain qualitative parameters. 
     Therefore, system  100  (FIG. 1) provides the ability to display systematically, search, and compare all companies and peer groups, based upon products manufactured or services performed anywhere within an industry, sector, sub-sector, and group, as well as perform industry, sector, sub-sector, and group by industry, sector, sub-sector, and group comparisons. 
     Another critical aspect of the invention is that all of the qualitative data  114  (FIG. 1) that is related to a company is selectively parsed and placed into separate fields for each item, e.g. Tables I-II. Such fields are given specific database linkages that allow the data to be associated or linked to other data. This provides the database  200  with enough flexibility to perform data mining and to drill down for specific information. Searches can be performed on any data element in database  200 . 
     Information about an individual company&#39;s products or services, by brandname or tradename, is loaded in a separate record. It will be appreciated that the terms “products” and “services” are used interchangeably herein. Each company&#39;s products record  266  is linked or related to its general company information record  214 . Each company that produces a product in a product hierarchy  206  is associated to that product&#39;s level in the product hierarchy through a company products record  260 . If a company does not have a tradename or brandname for its product, and the data entry field is therefore left blank at the data entry stage  118  (FIG.  1 ), an identifier (ID) is nevertheless automatically assigned so such company can still be linked or associated to a product level in a corresponding hierarchy. Redundant product tradenames may be attached at many, bottom node levels in the product hierarchy. A company can have one of its products attached at multiple, lowest product levels in the product hierarchy. A company may have an unlimited number of products. 
     Product records can be specialized for particular industries, sectors, sub-sectors, and groups. For example, the company product record for medical device and bio-pharmaceutical companies preferably includes information fields for each product&#39;s clinical and regulatory stage, side effects, and prescription indications. 
     An individual company can be related to some other company or entity for any number of reasons. A two-way database association is implemented by linking two separate records to the general company record  214  through a many-to-many relationship. The two record links are the association and is represented by the double lines between company record  214  and company associations record  228  in FIG.  2 . The company association type record  232  identifies why the two entities are related, and/or otherwise explains the basis for the association. Association types can include customers, strategic partners, corporate and venture shareholders, equipment suppliers, and component suppliers. An unlimited number of association types can be created. Such structure allows a user to search by a particular association type. For example, list all of the customers for company A or list all the companies that have company A as a customer. In another example, if company A has company B as a customer, then from company B&#39;s perspective company A could be either a component or equipment supplier. 
     The geographic dispersion of revenues and manufacturing can be recorded for each individual company. Preferably, the database structure for this is processed in three separate records  222 ,  224 , and  226 . These are related to each other and are related as a group to the general company record  214 . The same geographic areas can be related to any number of otherwise independent companies. This allows searches to be done based on the type of activity, sales or manufacturing, as well as the geographic area, to produce any and all companies that meet the criteria. 
     Revenue percentage figures can be attached to every one of a company&#39;s products. A data field is included to store the percentage of revenue a company generates for each product. Such revenue percentage value can be attached at any level in a product hierarchy, lowest to highest for a particular company for its products. Therefore, if a figure has been entered at a higher level in the product hierarchy, it may represent the percentage of revenue generated for more than one company product. If such company has multiple products associated at lower levels in the product hierarchy, the sum of the figures entered for a company may not exceed one hundred percent. A search by query manager  110  is satisfied if a figure is entered at a lower level in the product hierarchy and the user nevertheless sets a parameter based on a higher level in the chain. 
     End-user market records  236  are attached to each company market record  234  and company record  214  for each one of the company&#39;s products. An association is made to both the company&#39;s products as well as the product hierarchy  206 . Such information can be attached at any level in the product hierarchy for a company. Multiple end-user markets can be associated to one product level for a company. A list of the end-user markets is loaded in what is called a reference, or code record where consistency can be maintained much more effectively and eliminate duplicate entries that may be spelled slightly differently. When assigning an end-user market, one must be selected from the available list in the code record. The code record can be unlimited in the number of end-user markets entered. The same end-user market can be attached or associated to many products 
     Regulatory agencies that affect a company are identified. Such information is loaded in a separate record which is then related to the company regulated. One regulatory agency can be associated to an unlimited number of companies. Each company can have an unlimited number of agencies related to it. This allows for searching by a particular agency resulting in any and all companies that are affected by that agency. 
     Information regarding each company&#39;s management team and directors is loaded in a single record structure, which is then related to the company record. 
     Each company in database  200  has certain generic business strategies associated to it. These strategies are loaded in a separate record. One company can have multiple strategies associated to it. Each strategy can have an unlimited number of companies related. This allows searches on a particular strategy to result in all the companies that have been identified as having that strategy. 
     Product market trend can be associated to any and every product in the product hierarchy, product level dependent but company independent (see FIG.  7 ). The trends are loaded in a reference record. When associating a trend to a product, one must be selected from the reference record. One product can contain multiple trends. One trend can be attached to multiple products. A total-available-market figure can be attached or associated to each product throughout the product hierarchy. When a new product level name is created in the product hierarchy a separate field exists to enter the total-available-market figure for that product 
     Although the invention is described herein with reference to the preferred embodiment, one skilled in the art will readily appreciate that other applications may be substituted for those set forth herein without departing from the spirit and scope of the present invention. Accordingly, the invention should only be limited by the Claims included below.