Patent ID: 7930200

Claim:
A computer-implemented method for determining demand of products, comprising: receiving, using one or more data processors, price data and attribute data corresponding to one or more products, wherein each product is associated with at least one attribute; receiving, using the one or more data processors, a selection of a product; receiving, using the one or more data processors, a selection of an attribute associated with the selected product; comparing, using the one or more data processors, the selected product to each of the one or more products to determine a subset of the one or more products having the same associated attributes, except for the selected attribute; determining, using the one or more data processors, a degree of difference between the selected attribute and an associated attribute for each product in the subset; using, using the one or more data processors, the subset to determine a group of competing products, wherein each product in the group meets a pre-determined threshold corresponding to the degree of difference, and wherein each product in the group has an associated price; using, using the one or more data processors, the prices associated with each product in the group to determine a price for the selected product; generating, using the one or more data processors, a mathematical model using the determined price; and using, using the one or more data processors, the mathematical model to forecast a demand for the selected product.