Patent ID: 8296206

Claim:
A computing system for providing intelligent targeted budget analysis and recommendations comprising: a storage device; and one or more processors configured to: obtain a first party's financial data, the first party's financial data including data representing historical financial transactions associated with the first party; analyze the first party's financial data and identify one or more financial profile elements associated with the first party, the identification of the one or more financial profile elements associated with the first party being based on the analysis of the first party's financial data; create one or more financial profiles for the first party based on one or more of the one or more financial profile elements associated with the first party; obtain one or more other parties' financial data, the one or more other parties being parties other than the first party, the one or more other parties' financial data including data representing historical financial transactions associated with respective ones of the one or more other parties; analyze the one or more other parties' financial data to identify one or more financial profile elements associated with one or more of the one or more other parties, the identifying being based on the analysis of the one or more other parties' financial data; associate data representing the one or more financial profile elements with the respective one or more of the one or more other parties; store data representing the one or more financial profile elements associated with the respective one or more of the one or more other parties in the storage device; search the stored identified one or more financial profile elements associated with the respective one or more of the one or more other parties to determine at least one financial profile element of at least one of the one or more of the one or more other parties that matches at least one financial profile element of the first party; identify, as a result of the determined matched financial profile elements, one or more of the one or more other parties as financial peers of the first party; process the financial data associated with the identified one or more financial peers of the first party; and provide data representing budget analysis for the first party based, at least in part, on the processed one or more other parties' financial data associated with the identified one or more financial peers of the first party.