Patent Publication Number: US-2015073958-A1

Title: RESEARCH REPORT RECOMMENDATION ENGINE (&#34;R+hu 3 +lE&#34;)

Description:
FIELD OF TECHNOLOGY 
     This invention relates to providing research report recommendations. Specifically, this invention relates to providing research reports to pre-determined entities such as institutional portfolio managers, wealth management advisors and/or end-users (collectively hereinafter “pre-determined entity” or, in the plural, “pre-determined entities”). 
     BACKGROUND OF THE DISCLOSURE 
     A large volume of research reports exist. Such research reports are nearly continuously being generated and published. 
     Typically, it is important to make available to the pre-determined entity the research reports that are most relevant reports to the pre-determined entity. Generally, pre-determined entities may subscribe to certain reports that the pre-determined entities consider relevant. It may be challenging to determine which generated and published reports should be made accessible to the pre-determined entities as supplement reports in which the pre-determined entities may show interest outside of their subscriptions. 
     It would be desirable for a financial institution to provide an engine that selects which research reports are relevant in order to make accessible supplemental reports to one or more of the pre-determined entities. 
     SUMMARY OF THE DISCLOSURE 
     Systems and methods for ranking a plurality of research reports are provided. An apparatus may include a receiver configured to receive the plurality of research reports. The apparatus may also include a database to store the reports. 
     The apparatus may also include a processor. The processor may be configured to rank the plurality of research reports based, at least in part, on the magnitude of times the research reports have been downloaded and/or reviewed by a group of peers of a pre-determined entity. The processor may be further configured to rank the research reports and assign a first score to each of the plurality of research reports. 
     The processor may be further configured to rank the plurality of research reports using multi-dimensional clustering. The multi-dimensional clustering may be based, at least in part, on the proximity of the research report to a center of a multi-dimensional cluster. Based on the ranking using multi-dimensional clustering, the processor may assign a second score to each of the plurality of research reports. 
     The processor may be further configured to rank the plurality of research reports using a trending metric assigned to each of the plurality of research reports. The trending metric may be based on the amount of times the research reports were read in a second pre-determined time period. Based on the trending metric, the processor may be configured to assign a third score to each of the plurality of research reports. 
     The processor may be further configured to calculate a final report score for each research report. The final report score may be based, at least in part, on the sum of the first score, the second score and the third score. 
     The processor may be further configured to reduce the magnitude of each final report score based, at least in part, on the magnitude of elapsed time from publication of each research report. 
    
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
       The objects and advantages of the invention will be apparent upon consideration of the following detailed description, taken in conjunction with the accompanying drawings, in which like reference characters refer to like parts throughout, and in which: 
         FIG. 1  shows apparatus that may be used in accordance with the systems and methods of the invention; 
         FIG. 2  shows an illustrative flow diagram of data processing according to certain embodiments; 
         FIG. 3  shows an exemplary computer architecture that may be used to implement methods according to certain embodiments; 
         FIG. 4  shows an illustrative flow diagram that depicts a method according to certain embodiments; 
         FIG. 5A  shows an exemplary chart for determining similarity between two members of a cluster; and 
         FIG. 5B  shows a six-dimensional arrangement of vectors that may be used to determine proximity to a center including six vectors. 
     
    
    
     DETAILED DESCRIPTION OF THE DISCLOSURE 
     Illustrative embodiments of apparatus and methods in accordance with the principles of the invention will now be described with reference to the accompanying drawings, which form a part hereof. It is to be understood that other embodiments may be utilized and structural, functional and procedural modifications may be made without departing from the scope and spirit of the present invention. 
     As will be appreciated by one of skill in the art upon reading the following disclosure, R 3 E processing may be embodied as a method, a data processing system, or a computer program product. Accordingly, R 3 E processing may take the form of an entirely hardware embodiment, an entirely software embodiment or an embodiment combining software and hardware aspects. 
     Furthermore, the R 3 E may take the form of a computer program product stored by one or more non-transitory computer-readable storage media having computer-readable program code, or instructions, embodied in or on the storage media. Any suitable computer readable storage media may be utilized, including hard disks, CD-ROMs, optical storage devices, magnetic storage devices, and/or any combination thereof. In addition, various signals representing data or events as described herein may be transferred between a source and a destination in the form of electromagnetic waves traveling through signal-conducting media such as metal wires, optical fibers, and/or wireless transmission media (e.g., air and/or space). 
     In an exemplary embodiment, in the event that R 3 E is embodied at least partially in hardware, the R 3 E processing may include one or more databases, receivers, transmitters, processors, modules including hardware and/or any other suitable hardware. Furthermore, the operations executed by R 3 E processing may be performed by the one or more databases, receivers, transmitters, processors and/or modules including hardware. 
       FIG. 1  is a block diagram that illustrates a generic computing device  101  (alternately referred to herein as a “server”) that may be used according to an illustrative embodiment of the invention. The computer server  101  may have a processor  103  for controlling overall operation of the server and its associated components, including RAM  105 , ROM  107 , input/output module (“I/O”)  109 , and memory  115 . 
     I/O module  109  may include a microphone, keypad, touch screen, and/or stylus through which a user of server  101  may provide input, and may also include one or more of a speaker for providing audio output and a video display device for providing textual, audiovisual and/or graphical output. Software may be stored within memory  115  and/or storage to provide instructions to processor  103  for enabling server  101  to perform various functions. For example, memory  115  may store software used by server  101 , such as an operating system  117 , application programs  119 , and an associated database  111 . Alternately, some or all of server  101  computer executable instructions may be embodied in hardware or firmware (not shown). As described in detail below, database  111  may provide storage for information input into an R 3 E according to the invention. 
     Server  101  may operate in a networked environment supporting connections to one or more remote computers, such as terminals  141  and  151 . Terminals  141  and  151  may be personal computers or servers that include many or all of the elements described above relative to server  101 . The network connections depicted in  FIG. 1  include a local area network (“LAN”)  125  and a wide area network (WAN)  129 , but may also include other networks. When used in a LAN networking environment, computer  101  is connected to LAN  125  through a network interface or adapter  113 . When used in a WAN networking environment, server  101  may include a modem  127  or other means for establishing communications over WAN  129 , such as Internet  131 . It will be appreciated that the network connections shown are illustrative and other means of establishing a communications link between the computers may be used. The existence of any of various well-known protocols such as TCP/IP, Ethernet, FTP, HTTP and the like is presumed, and the system can be operated in a client-server configuration to permit a user to retrieve web pages via the World Wide Web from a web-based server. Any of various conventional web browsers can be used to display and manipulate data on web pages. 
     Additionally, application program  119 , which may be used by server  101 , may include computer executable instructions for invoking user functionality related to communication, such as email, short message service (SMS), and voice input and speech recognition applications. 
     Computing device  101  and/or terminals  141  or  151  may also be mobile terminals including various other components, such as a battery, speaker, and antennas (not shown). 
     A terminal such as  141  or  151  may be used by a user of an R 3 E to rank reports for transmission to a pre-determined entity. Information input for use with an R 3 E may be stored in memory  115 . The input information may be processed by an application such as one of applications  119 . 
     Apparatus for ranking a plurality of research reports is provided. The apparatus may include a processor. The processor may be configured to rank the plurality of research reports. The ranking of the research reports may be based, at least in part, on the magnitude of times the research reports have been reviewed by a group of peers of a pre-determined entity. 
     The identified group of peers may be established over a pre-determined time period. Based on the ranking of research reports, the processor may be configured to assign a first score to each of the plurality of research reports. 
     The processor may also being further configured to rank the plurality of research reports using multi-dimensional clustering. The ranking using multi-dimensional clustering may be based on the proximity of the research report to a center of a multi-dimensional cluster. Based on the ranking using multi-dimensional clustering, the processor may assign a second score to each of the plurality of research reports. 
     The processor may be further configured to rank the plurality of research reports using a trending metric. The trending metric may be calculated for each of the plurality of research reports. The trending metric may be based on the amount of times the research reports were read. The trending metric may be updated periodically. The update period may correspond to a preferably pre-determined time period. Based on the trending metric, the processor may assign a third score to each of the plurality of research reports. 
     The processor may be further configured to calculate a final report score for each research report. The final report score may be based, at least in part, on the sum of the first score, the second score and the third score. 
     The processor may be further configured to reduce the magnitude of each final report score. The processor may reduce the magnitude of each final report score based, at least in part, on the magnitude of elapsed time from generation and/or publication of each research report. 
     The group of peers may be formed from a cluster. The pre-determined entity may be the center of the cluster. The group of peers may be selected based on their respective proximity to the center of the cluster—i.e., the pre-determined entity for whom the reports are being selected—or to some other suitable central point. The proximity to the center of the cluster preferably provides a measure of similarity to the pre-determined entity. Other measures for determining similarity may also be used to determine this peer group. 
     The cluster may be clustered according to the report readership of the peers. In certain embodiments the cluster may have been formed based on co-occurrence of report readership among the peer group—e.g., proximity to the center the cluster may be determined based on how many of the same reports each of the peers has read. 
     The multi-dimensional cluster may include any suitable number of dimensions. The dimensions may include as few as two dimensions or as many as ten or even more. An exemplary list of dimensions may include dimensions such as asset class, industry, ticker, asset type, analyst and/or rating. 
     Each of the dimensions may preferably be assigned a value such that the asset classes may be used as a dimension in forming a multi-dimensional cluster. In certain embodiments, the values of the dimensions may be weighted in order to give more emphasis to one or more dimensions than to other dimensions in the multi-dimensional cluster. 
     Table 1 below shows an exemplary list of the members of selected dimensions. 
     
       
         
           
               
             
               
                 TABLE 1 
               
             
            
               
                   
               
               
                 Exemplary List of Members of Dimensions (including exemplary weights) 
               
            
           
           
               
               
               
            
               
                 Industry (weight 1) 
                 Asset Type (weight 2) 
                 Rating (weight 3.5) 
               
               
                   
               
               
                 Advertising &amp; Marketing 
                 Agency Credit 
                 Buy 
               
               
                 Services 
               
               
                 Aerospace 
                 Asset Backed Credit 
                 Neutral 
               
               
                 Aerospace &amp; Defense 
                 Australia High Grade Bond Indices 
                 Underperform 
               
               
                 Aerospace/Defense Electronics 
                 Balanced Funds 
               
               
                 Agricultural Machinery 
                 Bond Funds 
               
               
                 Agricultural Operations 
                 Canada High Grade Bond Indices 
               
               
                 Air Freight 
                 Collateralized Debt 
               
               
                   
                 Obligations 
               
               
                 Airlines 
                 Commodity Funds 
               
               
                 Airlines 
                 Convertible 
               
               
                 Airports 
                 Corporate High Yield 
               
               
                   
                 Credit 
               
               
                 Alternative Energy 
                 Corporate Investment Grade 
               
               
                   
                 Credit 
               
               
                 Alternative Energy 
                 Country Funds 
               
               
                 Apparel 
                 Credit 
               
               
                 Appliances 
                 Currency Cash 
               
               
                 Asset Management 
                 Currency Derivatives 
               
               
                 Auto Parts 
                 Currency Futures 
               
               
                 Automotive Manufacturers 
                 Derivatives 
               
               
                 Automotive Suppliers 
                 Emerging Markets Credit 
               
               
                 Autos 
                 Emerging Markets 
               
               
                   
                 Sovereign 
               
               
                 Autos/Car Manufacturers 
                 Equity Funds 
               
               
                 Bakers 
                 European High Grade Bond 
               
               
                   
                 Indices 
               
               
                 Banks 
                 European Covered Bond 
               
               
                 Banks 
                 Financial Futures 
               
               
                 Banks Merchant 
                 Global High Grade Bond 
               
               
                   
                 Indices 
               
               
                 Banks Multinational/Universal 
                 Global High Yield &amp; 
               
               
                   
                 Emerging Markets Bond 
               
               
                   
                 Indices 
               
               
                 Banks Retail 
                 Japan High Grade Bond 
               
               
                   
                 Indices 
               
               
                 Banks US Regionals 
                 Loans 
               
               
                 Bearings 
                 Money Market Credit 
               
               
                 Beverages 
                 Money Market Funds 
               
               
                 Beverages Alcoholic 
                 Mortgage Backed Credit 
               
               
                 Beverages Soft Drinks 
                 Municipal Credit 
               
               
                 Biotechnology 
                 Provincial Regional Credit 
               
               
                 Bottlers 
                 Publisher Defined 
               
               
                 Branded Consumer Services 
                 Sovereign Credit 
               
               
                 Brewers 
                 Stock 
               
               
                 Broadcasting 
                 Supranational Credit 
               
               
                 Broadcasting 
                 U.S. High Grade Bond 
               
               
                   
                 Indices 
               
               
                 Building 
                 U.S. Municipal Securities 
               
               
                   
                 Indices 
               
               
                 Building &amp; Construction 
                 US Treasuries 
               
               
                 Building Construction 
                 Agency Credit 
               
               
                 Building Materials 
                 Asset Backed Credit 
               
               
                 Building Materials 
                 Australia High Grade Bond 
               
               
                   
                 Indices 
               
               
                 Building Merchants 
                 Balanced Funds 
               
               
                 Building Products 
                 Bond Funds 
               
               
                 Bus Companies 
                 Canada High Grade Bond 
               
               
                   
                 Indices 
               
               
                 Business Services 
                 Collateralized Debt 
               
               
                   
                 Obligations 
               
               
                 Business Services 
                 Commodity Funds 
               
               
                 Business Services 
                 Convertible 
               
               
                 Cable 
                 Corporate High Yield 
               
               
                   
                 Credit 
               
               
                 Cable TV 
                 Corporate Investment Grade 
               
               
                   
                 Credit 
               
               
                 Car Rental 
                 Country Funds 
               
               
                 Chemicals 
                 Credit 
               
               
                 Chemicals 
                 Currency Cash 
               
               
                 Chemicals Major 
                 Currency Derivatives 
               
               
                 Chemicals Specialty 
               
               
                 Coal 
               
               
                 Coal 
               
               
                 Commercial &amp; Residential 
               
               
                 Services 
               
               
                 Computer Services 
               
               
                 Connectors, Passive 
               
               
                 Components &amp; Distrib 
               
               
                 Construction Machinery 
               
               
                 Consumer Paper Products 
               
               
                 Consumer Products 
               
               
                 Consumer Products 
               
               
                 Consumer Products Luxury 
               
               
                 Retail 
               
               
                 Containers 
               
               
                 Convenience Stores 
               
               
                 Cosmetics/Personal Care 
               
               
                 Cruise Lines/Holiday 
               
               
                 Companies 
               
               
                 Data Networking 
               
               
                 Death Care 
               
               
                 Death Care 
               
               
                 Defense Electronics 
               
               
                 Distillers 
               
               
                 Distributors 
               
               
                 Distributors Electrical 
               
               
                 Distributors Other 
               
               
                 Distributors Vehicle 
               
               
                 Diversified Operations 
               
               
                 Drug Store Chains 
               
               
                 Education &amp; Training Services 
               
               
                 Education &amp; Training Services 
               
               
                 Electric Utilities 
               
               
                 Electric Utilities 
               
               
                 Electrical Equipment 
               
               
                 Electrical Equipment 
               
               
                 Electronics 
               
               
                 Electronics 
               
               
                 Electronics 
               
               
                 Electronics Manufacturing 
               
               
                 Services 
               
               
                 Electronics Major Diversified 
               
               
                 &amp; Others 
               
               
                 Energy 
               
               
                 Energy 
               
               
                 Energy Commodities 
               
               
                 Energy Technology 
               
               
                 Engineering 
               
               
                 Engineering 
               
               
                 Engineering &amp; Construction 
               
               
                 Engineering &amp; Construction 
               
               
                 Entertainment 
               
               
                 Fertilizers 
               
               
                 Financial Services 
               
               
                 Financial Services 
               
               
                 Financial Services 
               
               
                 Consumer/Commercial 
               
               
                 Fixed Income Research 
               
               
                 Food 
               
               
                 Food 
               
               
                 Food Processors 
               
               
                 Food Producers 
               
               
                 Food Producers 
               
               
                 Food Service Businesses 
               
               
                 Food Service Equipment 
               
               
                 Food Canned 
               
               
                 Food Commodities 
               
               
                 Food Confectionery 
               
               
                 Food Dairy Products 
               
               
                 Footwear 
               
               
                 Forest Products 
               
               
                 Freight Forwarding 
               
               
                 Gaming 
               
               
                 Gaming 
               
               
                 Gaming 
               
               
                 Gas Utilities 
               
               
                 Gas Utilities 
               
               
                 Gold &amp; Precious Metals 
               
               
                 Government Sponsored 
               
               
                 Agencies 
               
               
                 Health Care 
               
               
                 Health Care Distribution &amp; 
               
               
                 Technology 
               
               
                 Healthcare 
               
               
                 Homebuilders 
               
               
                 Homebuilders 
               
               
                 Hospital Management 
               
               
                 Hotels 
               
               
                 Household Products 
               
               
                 Household Products 
               
               
                 Housewares/Consumer 
               
               
                 Durables 
               
               
                 HydroElectric Utilities 
               
               
                 Independent Power Producers 
               
               
                 Industrial Machinery 
               
               
                 Industrial Services/Equipment 
               
               
                 Rental 
               
               
                 Industrials/MultiIndustry 
               
               
                 Industrials/MultiIndustry 
               
               
                 Industrials/MultiIndustry 
               
               
                 Information Processing 
               
               
                 Insurance 
               
               
                 Insurance Life 
               
               
                 Insurance Multiline 
               
               
                 Insurance NonLife 
               
               
                 Interactive Media 
               
               
                 Interior Furnishings 
               
               
                 Internet Distributed Services 
               
               
                 Internet Infrastructure Services 
               
               
                 Internet/eCommerce 
               
               
                 Investment Trusts 
               
               
                 Investment Trusts 
               
               
                 IT Hardware 
               
               
                 Land Transport 
               
               
                 (Warehousing/Logistics) 
               
               
                 Leisure 
               
               
                 Leisure 
               
               
                 Leisure Hotel/Lodging 
               
               
                 Leisure Time/Recreation 
               
               
                 Lodging 
               
               
                 Lodging 
               
               
                 LongTerm Care 
               
               
                 Luxury Goods 
               
               
                 Machine Tools 
               
               
                 Machinery/Diversified 
               
               
                 Manufacturing 
               
               
                 Managed Health Care 
               
               
                 Manufactured Housing 
               
               
                 Material Handling 
               
               
                 Mechanical Engineering 
               
               
                 Media &amp; Entertainment 
               
               
                 Media &amp; Entertainment 
               
               
                 Medical Specialty 
               
               
                 Medical Supplies 
               
               
                 Medical Technology 
               
               
                 Metal Molding 
               
               
                 Metals &amp; Mining 
               
               
                 Microcomputing 
               
               
                 MidandSmall Cap Regional 
               
               
                 Banks 
               
               
                 Mortgage Finance 
               
               
                 Music 
               
               
                 Natural GasIntegrated 
               
               
                 Natural GasLocal Distribution 
               
               
                 Companies 
               
               
                 Natural Gas Pipelines 
               
               
                 NonFerrous Metals/Mining &amp; 
               
               
                 Minerals 
               
               
                 NonFerrousAluminum &amp; Light 
               
               
                 Metals 
               
               
                 Nonferrous Mining 
               
               
                 Nonferrous Other 
               
               
                 Oil &amp; Gas 
               
               
                 Oil &amp; Gas Producers 
               
               
                 Oil Refining &amp; Marketing 
               
               
                 Oil Services 
               
               
                 Oils 
               
               
                 Optics 
               
               
                 Other Financials 
               
               
                 Outsourcing Services 
               
               
                 Packaging 
               
               
                 Packaging 
               
               
                 Packaging 
               
               
                 Paper Products 
               
               
                 Paper/Forest Products 
               
               
                 Paper/Forest Products 
               
               
                 PC Hardware 
               
               
                 PC Software 
               
               
                 Pharmaceuticals 
               
               
                 Pharmaceuticals 
               
               
                 Photography &amp; Electronic 
               
               
                 Imaging 
               
               
                 Physician Practice 
               
               
                 Management 
               
               
                 Plantations 
               
               
                 Plantations 
               
               
                 Pollution Control 
               
               
                 Pollution Control 
               
               
                 Pollution Control 
               
               
                 Printing Machinery 
               
               
                 Print Related Services 
               
               
                 Process Controls 
               
               
                 Property/Developer 
               
               
                 Publishing 
               
               
                 Publishing 
               
               
                 Pubs/Restaurants 
               
               
                 Pulp 
               
               
                 Rail Equipment 
               
               
                 Rail Transport/Railroads 
               
               
                 Real Estate/Property 
               
               
                 Real Estate/Property 
               
               
                 Real Estate/Property 
               
               
                 REITs 
               
               
                 REITs 
               
               
                 REITs (Real Estate Investment 
               
               
                 Trusts) 
               
               
                 Renewable Energy 
               
               
                 Restaurants 
               
               
                 Restaurants 
               
               
                 Restaurants 
               
               
                 Retailing 
               
               
                 Retailing 
               
               
                 Retailing Book Chains 
               
               
                 Retailing Broadline/ 
               
               
                 Department Stores 
               
               
                 Retailing Broadline/General 
               
               
                 Merchandiser 
               
               
                 Retailing Hardlines 
               
               
                 RetailingSoftline 
               
               
                 Retailing Softline 
               
               
                 Retailing Specialty 
               
               
                 Retailing Wholesale &amp; 
               
               
                 Logistics 
               
               
                 Road Transport/Trucking 
               
               
                 Royalty/Income Trusts 
               
               
                 Royalty/Income Trusts 
               
               
                 Satellite Services 
               
               
                 Satellite Services 
               
               
                 Savings &amp; Loans/Thrifts 
               
               
                 Sea Ports 
               
               
                 Sea Transport 
               
               
                 Securities Broker/Dealer 
               
               
                 Semiconductor Capital 
               
               
                 Equipment 
               
               
                 Semiconductors 
               
               
                 Semiconductors 
               
               
                 Server &amp; Enterprise Software 
               
               
                 Services 
               
               
                 Services Cyclical 
               
               
                 Shipping 
               
               
                 Soft Drinks 
               
               
                 Software &amp; IT Services 
               
               
                 Specialty Steels 
               
               
                 Specialty Wire &amp; Cable 
               
               
                 Spirits, Wines &amp; Ciders 
               
               
                 Sporting Goods 
               
               
                 Steel 
               
               
                 Steel 
               
               
                 Steels 
               
               
                 Supermarkets/Food Retailers 
               
               
                 Support Services 
               
               
                 Technical &amp; Design Software 
               
               
                 Technology 
               
               
                 Technology 
               
               
                 Technology Strategy 
               
               
                 Telecom Equipment 
               
               
                 Wireless/Cellular 
               
               
                 Telecom Equipment Wireline 
               
               
                 Telecom Infrastructure 
               
               
                 Services 
               
               
                 Telecom Services 
               
               
                 Telecom ServicesCLECs 
               
               
                 Telecom Services 
               
               
                 Wireless/Cellular 
               
               
                 Telecom Services Wireline 
               
               
                 Telecommunications 
               
               
                 Textile Products 
               
               
                 Textiles/Apparel 
               
               
                 Textiles/Apparel 
               
               
                 Theaters 
               
               
                 Tires 
               
               
                 Tobacco 
               
               
                 Tobacco 
               
               
                 Tobacco 
               
               
                 Toll Road Operators 
               
               
                 Toys 
               
               
                 Transport/Infrastructure 
               
               
                 Transportation 
               
               
                 Truck/Bus Manufacturers 
               
               
                 Trust Banks 
               
               
                 Utilities 
               
               
                 Utilities 
               
               
                 Utilities Other 
               
               
                 Water Utilities 
               
               
                   
               
            
           
         
       
     
     The trending metric may be based on a review of which research reports have been recently read. For example, the trending metric may be updated based on research reports read in the previous 15 minutes. In certain embodiments, the trending metric may be derived from information written to a real-time readership log. It should be noted that a determination of the trending metric is preferably agnostic to, or alternatively, independent of, the identity of the report readers and/or reviewers. 
     In certain embodiments of the invention, one or more of the first score, the second score and the third score may be weighted. Such a weighting may change the effect of the weighted score on the final report score. 
     In certain embodiments, the processor may be configured to filter out reports that have previously been made accessible to the pre-determined entity. 
     In certain embodiments, the processor may be further configured to provide a selected group of the pre-determined number of research reports to the pre-determined entity based, at least in part, on the final report score. 
       FIG. 2  shows an illustrative flow diagram  200  of data processing according to certain embodiments. Such data may include readership/research library/search data that may be transformed according to certain embodiments. 
     Flow diagram  200  shows readership/search inputs  202  into a data platform  210 . Other inputs may include the economic calendar  212 , market events, news and/or social media  214  and market volumes, benchmarks (such as the Ten-Year U.S. Treasury Bond Interest Rate, the Libor (London Interbank Offered Rate)  216 . 
     Platform  210  may be used to receive, organize and/or transfer the data to recommendations engine  218 . Engine  218  may preferably receive the data. Based on the data, engine  218  may make accessible a suitable number of selected, recommended, research reports via a portal or research library (which may be accessed using a user login ID and password, or other suitable identifier.) Engine  218  may provide a suitable number of selected, recommended, research reports directly by providing access to the research reports to pre-determined entities. 
       FIG. 3  shows an exemplary computer architecture  300  that may be used to implement methods according to the invention. Architecture  300  may use research servers  302  and/or other applications (logs)  304  to extract, transform and/or load (“ETL”) information into a data platform  306 .  FIG. 3  shows an exemplary ETL frequency of 15 minutes but any suitable frequency may be implemented. 
     Architecture  300  may also implement research data warehouse  310 . Warehouse  310  may forward an external data feed with a frequency of once a day or other suitable frequency and a metadata feed to data platform  306 . The external data feed may include information required for various cluster calculations, as set forth in more detail below. For example, the external data feed may include metadata associated with a report such as which analyst prepared the report, which industry is associated with the report and other such suitable metadata for association with each report. 
     Data platform  306  may preferably transmit the loaded information for data reporting  308  and/or to an analytics database  312 . Data reporting  308  may provide information regarding the number of reports being made accessible to pre-determined entities. Data reporting may provide information for building a reporting dashboard or other suitable reporting display. Such display (not shown) may be used to show various statistics and/or other information regarding data reporting. 
     Database  312  may preferably include a history of all reports that have, heretofore, been made available to pre-determined entities. Such a history may be useful in determining which reports to filter out of future rankings and/or future communications with pre-determined entities. Web Services Layer  314  may preferably receive information from database  312 . 
     Web Services Layer  314  may then prepare the information for transmission to a web service. Once the information is prepared, Web Services Layer  314  may then transmit the information to one or more of the home page  316 , report detail page  318  and/or trends dashboard  320 , or other similar web-based page display. 
       FIG. 4  shows an illustrative flow diagram  400  that depicts a method according to the invention. Flow diagram  400  begins with a query,  402 , which poses the following question—“Given a User ID and/or a Report ID, what are the top research report recommendations (e.g., the selected group of the highest ranking reports) for the user?” The user ID may correspond to various user attributes such as peer group. Such attributes, as will be explained further below with respect to peer readership clusters  408 , may allow the system to use the pre-determined entity, such as a system user, as a cluster center in order to customize the selection of the reports sent to the pre-determined entity. 
     Attributes of the identified report, as will be explained below with respect to similar item clusters  410 , may also be used as a cluster center in order to customize the selection of the reports sent to the pre-determined entity. Accordingly, attributes of the pre-determined entity and attributes of the report may operate to be included with other analyses by R 3 E  404  in determining which reports should be sent to the pre-determined entity. 
     Peer readership filter  408  may preferably include an algorithm for collaborative filtering of reports. For the purpose of this application, the term collaborative filtering should be understood to refer to filtering reports based on “collaborating” the readership of different clients. Such collaborating preferably may be used to rank the research reports. The ranking based on the peer group preferably ranks highest the reports that have been read the most by the pre-determined entity&#39;s peer group. Such a ranking may preferably assign values to the reports. The values assigned to the reports preferably correspond to the relevance of the report readership to the pre-determined entity&#39;s readership. 
     In one embodiment, peer similarity of the pre-determined entity to the group may be obtained based on creating a readership cluster. In such a cluster, the pre-determined entity&#39;s report readership may represent the center of the cluster. 
     The other cluster members may be organized with respect to their respective proximity to the center. The proximity to the center of the cluster may be determined by the similarity of the readership of the other members of the cluster to the readership of the pre-determined entity. For example, such similarity may be based on co-occurrence of report readership among members of the peer group. 
     Such similarity may be determined in view of a pre-determined readership sample. Such a sample may be taken over a time period such as two (2) years or some other suitable time period. 
     Following a determination of peer similarity, the reports may preferably include a value, or alternatively, a score, that corresponds to the relevance of the report to the pre-determined entity. 
     Similar items clusters  410  may preferably be derived using an algorithm for filtering reports based on any number of suitable means. The principle behind such clustering is that similar reports can be clustered. Such clustering preferably may be used to rank the reports based on the similarity of the reports to reports already reviewed by the pre-determined entity or based on the similarity of the reports to some other group of reports. Such clustering may be used to rank the reports based on the similarity of the reports to a single report that was recently read by the pre-determined entity. 
     In certain embodiments, the clusters of reports may be determined with respect to a multi-dimensional cluster center formed from a plurality of dimensions. The dimensions may include six or more dimensions. Such dimensions may include asset class, industry, ticker, asset type, analyst and/or rating. The information for the dimensions forming the center of the cluster may include information derived from a single report reviewed by the pre-determined entity. The information for the dimensions forming the center of the cluster may include information derived from a plurality of reports reviewed by the pre-determined entity. 
     Following the arrangement of reports in a multi-dimensional cluster, the reports may preferably include a value, or alternatively, a score, that corresponds to the relevance of the report to center of the multi-dimensional cluster. 
     An additional means for determining relevance of reports to a reader may include a filter for determining a trending metric filter  412 . The principle behind determining a trending metric may include ranking the reports according to substantially real-time, preferably non-peer based, readership. In certain alternative embodiments, the trending metric may include determining the ranking based on peer-based, substantially real-time, readership. 
     In certain embodiments, trending metric filter  412  may include ranking each of the reports based on the magnitude of report review occurrences in a preferably substantially continuously, or, alternatively, periodically, updated pre-determined window of time. For example, trending metric filter  412  may be determined based on monitoring every 15 minutes. Monitoring may include monitoring for report review. 
     When such monitoring occurs continuously, then the monitoring may preferably implement a window looking back over the pre-determined time period such that the monitoring substantially continuously ranks the reports based on the historical readership. In some embodiments, the window of historical readership may be based on what was read and may be updated once every 15 minutes. As such, articles that were read in the last 15 minutes would obtain a positive change in trending metric value, or score. 
     Such monitoring may be implemented using information obtained from a real-time readership log. Such a real-time readership log may preferably be stored in servers  302  and/or in logs stored in applications  304 . In certain embodiments, trending metric filter  412  may have the effect of increasing the final score of the reports that have been reviewed within a pre-determined, preferably sliding, window of time. 
     In certain embodiments of the invention, the score derived from the peer readership filter  408  for each report, the score derived from the similar item clusters  410  for each report and the score derived from the trending metric filter  412  for each report may preferably be summed in order to determine a final score for each report. 
     The final report may preferably be assigned a publication date. The publication date may preferably be used to determine the “freshness” of the report. In one embodiment, a weight may be assigned to the freshness determination. The final score may be multiplied by the weight associated with the freshness report in order to adjust the report based on its individual age. 
     In one embodiment, a report that issued today may be assigned a freshness weight of 1.0. The freshness weight of 1.0, in some embodiments, does not effect a change on the final report score. 
     A report that published prior to the determination of the final report score may be assigned a freshness weight of some value substantially less than 1. It should be noted, however, that any suitable numeric range, and/or numeric scale may be implemented for the weighting system in order to obtain a desirable final report score which takes report freshness into account. 
     In some embodiments, each of the first score, the second score and/or the third score may be weighted in order to add emphasis to, or remove emphasis from, one or more of the peer readership filter  408 , the similar items cluster  410  and/or the trending metric filter  412 . 
     Preferably, following the determination of the final, preferably adjusted and/or weighted, final reports scores, a pre-determined number of reports may be transmitted to the pre-determined entity. In certain embodiments, notification may be transmitted to the entity which alerts the entity that a pre-determined number of research reports have been determined to be relevant to him and are available for his review. 
       FIG. 5A  shows an exemplary chart for determining similarity. With respect to the present invention such a similarity determination may be used to implement the peer readership filter  408  and or the similar items cluster  410 . 
     Vector A  502  may include components (x1, y1), and may be understood to indicate direction and magnitude. Vector B  504  may include components (x2, y2). Such vectors are shown in  FIG. 5A  in two dimensions—i.e., with two components. It should be noted, however, that such similarity determinations may be made in more than two dimensions e.g., three, four, five, six or more dimensions. 
     For the purposes of the application, θ may be considered to be the angle between vectors  502  and  504 . Cosine similarity may be used to determine the similarity of the vectors. It should be noted that any suitable mathematical function for defining similarity between two vectors may be used. 
     Cosine similarity may be obtained using the following equation: 
     
       
         
           
             
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     The value of cos θ varies between −1 and +1. At −1, the vectors are 180° apart and are absolutely dissimilar, obtaining an opposite-ended vector relationship. At 0, the vectors are 90° apart and are dissimilar, obtaining a perpendicular relationship. At +1, the vectors are aligned and are absolutely similar, obtaining an overlapping relationship. It should be noted that such a similarity equation could be expanded, as is known in the art, to determine vector similarity based on any suitable number of vector components. 
     Examples of forming peer readership clusters may include identifying peers that have read the greatest number of the same material—e.g., previously transmitted reports—as the pre-determined entity. In such a cluster determination, the pre-determined entity&#39;s report readership may form the center of the cluster. 
     The proximity to the center of another entity&#39;s readership may be characterized by comparing the number of reports that the pre-determined entity and the entity being ranked have reviewed. Such a number may be used to form a uni-dimensional measure which can then be used to rank the other entity in order to determine whether the other entity should be considered a peer. 
     Once a group of peers is formed, methods may include determining which reports have been reviewed most by the peer group. From the group of most read reports, the system may preferably remove the reports reviewed by pre-determined entity (this step may occur at any suitable time either before, during or after the determination of the most read reports). Thereafter, the system may rank the reports that have been reviewed most by the group of peers. 
     Calculating similarity between items for establishing similar items cluster  410  may also be implemented using cosine similarity. For example, a center may be obtained based on reports read by the pre-determined entity. 
     The center of similar items cluster  410  may be defined by vector values most similar to the reports read by the pre-determined entity. Once the center has been obtained, and defined by a group of vectors, the remaining reports may be ranked with respect to proximity to a group of vectors at the center. In such a method, definition of the vectors may be weighted and/or changed to emphasize one or more characteristics of the pre-determined entity. 
       FIG. 5B  shows a six-dimensional arrangement of vectors that may be used to determine proximity to a center created from six vectors associated with the pre-determined entity. 
     Thus, methods and apparatus for implementing an R 3 E in accordance with the systems and methods of the invention have been provided. Persons skilled in the art will appreciate that the present invention can be practiced in embodiments other than the described embodiments, which are presented for purposes of illustration rather than of limitation, and that the present invention is limited only by the claims that follow.