WO2001037173A1 - Method and system for facilitating transactions for products and services between vendors and buyers - Google Patents

Method and system for facilitating transactions for products and services between vendors and buyers Download PDF

Info

Publication number
WO2001037173A1
WO2001037173A1 PCT/US2000/031315 US0031315W WO0137173A1 WO 2001037173 A1 WO2001037173 A1 WO 2001037173A1 US 0031315 W US0031315 W US 0031315W WO 0137173 A1 WO0137173 A1 WO 0137173A1
Authority
WO
WIPO (PCT)
Prior art keywords
services
category
products
field
stores
Prior art date
Application number
PCT/US2000/031315
Other languages
French (fr)
Inventor
Mustafa Sina Hakman
Hakan Guleryuz
Burak Yavuz
Levent Aksu
Omer Emre Eksi
Original Assignee
Worldwide Investing Network Interactive Tools, Ltd.
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Worldwide Investing Network Interactive Tools, Ltd. filed Critical Worldwide Investing Network Interactive Tools, Ltd.
Priority to AU16098/01A priority Critical patent/AU1609801A/en
Publication of WO2001037173A1 publication Critical patent/WO2001037173A1/en

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/02—Banking, e.g. interest calculation or account maintenance

Definitions

  • the present invention relates to electronic information systems.
  • the present invention provides a method and system for facilitating transactions for products and services between vendors and buyers.
  • the Internet and World Wide Web have revolutionized methods for the distribution and dissemination of electronically stored information.
  • the WWW is a set of software systems that use the Internet to distribute information. Originally designed for dissemination of information within the high-energy physics community, the WWW is an Internet client-server hypertext distributed information retrieval system.
  • the WWW project merges the techniques of information retrieval and a concept known as hypertext to make an easy but powerful global information system.
  • the Internet has promoted the website as a primary digital repository.
  • the accessibility of the Internet has motivated universities, government bodies and agencies, research institutions, libraries, corporations, etc. to provide electronic information online via websites.
  • a browser In order to access the WWW, users typically use a program known as a browser.
  • a browser e.g. Netscape, Internet Explorer, Mosaic, Opera, etc.
  • a browser runs on the client's computer and provides two basic navigation operations: to follow a link or to send a query to a server.
  • Browser programs typically communicate with servers using HTTP ("Hypertext Transport Protocol"), which is a stateless protocol.
  • HTTP Hypertext Transport Protocol
  • Most clients and servers also support "forms" which allow the user to enter arbitrary text as well as selecting options from customizable menus and on/off switches.
  • known search techniques do not provide any mechanism for conducting intelligent searches for products and services in which products and services are structured and categorized according to relevant topic.
  • Conventional technology also does not provide a method or system to allow a buyer to post a request to a vendor for a particular product or service.
  • These deficiencies arise for a number of reasons.
  • product and service characteristics are non-linear and qualitative and require human intelligence for differentiation.
  • efficient searching for products requires plurality of search mechanism/interfaces to meet a diversity of user profiles and needs.
  • product categorization requires a multi-level and multi-relational structure in order to satisfy user requirements for finding a particular product or service.
  • the present invention provides a system and method for facilitating transactions for products and services between vendors and buyers over an information network such as the Internet. According to one embodiment, the present invention is applied to vendors of financial products and services. However, the present invention may also be applied in any type of market that may involve a diverse set of product categories.
  • a financial products and services transaction site maintains a database of financial products and services provided by a multiplicity of vendors.
  • the financial products and services transaction site stores a metastructure comprising a plurality of category nodes, which is used to relate and organize the financial products and services.
  • the metastructure utilizes a parent-child tree data structure incorporating a weighting function between category nodes.
  • the financial products and services transaction site provides a search engine that allows clients of the financial products and services transaction site to conduct intelligent searches for particular financial products and services using search techniques that are inherently tied to the defined metastructure.
  • the financial products and services transaction site allows clients to search for financial products and services using a category search based on client specified related and non-related categories, a qualifier search based upon defined qualifiers, a keyword search based on keywords that are linked to various nodes of the metastructure, or using a wizard function that builds a search query by tracking a user's interaction and traversal of pre-defined information or "wizard" pages.
  • the financial products and services transaction site also provides a browser function for allowing clients to traverse the metastructure and selectively view financial products and services.
  • the financial products and services transaction site provides multiple methods for display of search results. According to one embodiment of the present invention, search results may be ranked alphabetically, in a rating order mode, in a usage order mode or by relevance.
  • the financial products and services transaction site also provides a bidding mechanism in which clients may post demands to vendors for particular financial products and services not currently available.
  • FIG. 1 depicts a network architecture illustrating the relationship between a number of clients, a financial products and services vendor and a financial products and services transaction site according to one embodiment of the present invention.
  • FIG. 2a illustrates a relationship between a number of categories according to one embodiment of the present invention.
  • FIG. 2b illustrates a relationship between a set of example categories, vendors and products according to one embodiment of the present invention.
  • FIG. 3 depicts a data structure for storing information related to a category according to one embodiment of the present invention.
  • FIG. 4 depicts a data structure for storing information related to products and services according to one embodiment of the present invention.
  • FIG. 5 depicts a data structure for storing information related to qualifiers according to one embodiment of the present invention.
  • FIG. 6 depicts a data structure for storing information related vendors according to one embodiment of the present invention.
  • FIG. 7 depicts a data structure for storing information related to editors according to one embodiment of the present invention.
  • FIG. 8a depicts a data structure for storing information related to keywords according to one embodiment of the present invention.
  • FIG. 8b represents a data structure for relating a keyword to a category according to one embodiment of the present invention.
  • FIG. 9 represents a data structure for relating a category to a product or service according to one embodiment of the present invention.
  • FIG. 10 represents a data structure for relating a product and service and a keyword according to one embodiment of the present invention.
  • FIG. 1 1 represents a data structure for relating a first category to a second category according to one embodiment of the present invention.
  • FIG. 12 represents a data structure for relating a category to a qualifier according to one embodiment of the present invention.
  • FIG. 13 represents a data structure for relating a product and service to a qualifier according to one embodiment of the present invention.
  • FIG. 14 represents a data structure for relating a vendor to a category according to one embodiment of the present invention.
  • FIG. 15 represents a data structure for relating a keyword to a vendor according to one embodiment of the present invention.
  • FIG. 16 represents a data structure for storing information relating to a wizard page according to one embodiment of the present invention.
  • FIG. 17 represents a data structure for storing information relating to content of a wizard page according to one embodiment of the present invention.
  • FIG. 18 depicts a physical data model for an objective search engine according to one embodiment of the present invention.
  • FIG. 19 is a flowchart that depicts a process for a category search according to one embodiment of the present invention.
  • FIG. 20 is a flowchart that depicts a set of steps for conducting a keyword search according to one embodiment of the present invention.
  • FIG. 21 is a flowchart that depicts a set of steps for conducting a qualifier search according to one embodiment of the present invention.
  • the present invention may be implemented over any type of information network, public or private, including a WAN ("Wide Area Network”), MAN ("Metropolitan Area Network”), LAN ("Local Area Network”), Intranet, wireless network, etc.
  • WAN Wide Area Network
  • MAN Metropolitan Area Network
  • LAN Local Area Network
  • Intranet wireless network
  • FIG. 1 depicts network architecture illustrating the relationship between a number of clients, a financial products and services vendor and a financial products and services transaction site according to one embodiment of the present invention.
  • Financial products and services transaction site 119 is coupled to Internet 114 via Tl line 130b.
  • the coupling of financial products and services site 119 to Internet 114 using Tl line 130b is merely illustrative.
  • Financial products and services transaction site 1 19 may be coupled to Internet 1 14 using any number of technologies including an ISDN ("Integrated Services Digital Network”) connection, a DSL ("Digital Subscriber Line”) connection, a T3 line, etc.
  • ISDN Integrated Services Digital Network
  • DSL Digital Subscriber Line
  • Clients 105 may transmit to and receive information from financial products and services transaction site 119 via Internet 1 14.
  • clients 105a-105d illustrate various types of clients that may be served by financial products and services transaction site 119.
  • client 105a which is typically a home based client, utilizes personal computer 1 12a and modem 1 15a to connect to Internet 114 via POTS telephone line 117 and Internet service provider 120a (including modem bank 121 and router 135a).
  • Client 105b illustrates a corporate based client that serves financial information to its own clients (e.g., 11 la-11 lb) and effectively operates as a conduit for information provided by financial products and services transaction site 119 and clients 11 la-11 lb.
  • Client 105b is coupled to Internet 114 via Tl line 130c.
  • Client 105c illustrates another example of a corporate client.
  • client 105c includes network nodes 171a-171c.
  • Network nodes 171 a- 171c at client 105c may conduct transactions with financial products and services information site 119 via Ethernet 181, server 183, Tl line 130d and Internet 114.
  • client 105d illustrates a typical home user coupled to Internet 1 14 via a broadband connection (in this case cable modem 115b).
  • FIG. 1 also shows vendor 191 that may communicate with financial products and services transaction site 1 19 via Internet 114 and router 135b.
  • Financial products and services transaction site 1 19 includes a front end subsystem 124 and a search engine subsystem 123.
  • Front end subsystem 124 provides a graphical user interface ("GUI") for receiving client queries and providing search results to clients 105.
  • Front end subsystem 124 includes client/gateway server 140a and GUI database 150a.
  • GUI database 150a stores HTML ("Hypertext Markup Language") content.
  • the present invention is not limited to application over Internet 114 and WWW using HTML. Alternative embodiments may be realized over any type of information network, public or private and thus front end subsystem 123 may utilize any mechanism for providing a GUI and for effective content delivery.
  • Search engine 123 provides functionality for conducting searches for financial products and services.
  • search engine subsystem 123 includes search engine server 140d, category database 150b, vendor database 150c, products and services database 150d, keyword database 150e, wizard page database 150f, wizard selection database 150g and qualifier database 150h.
  • Databases 150b-150h may be organized in a relational structure to form a relational database for relating categories, keywords, vendors, products and services.
  • Client gateway server 140a is coupled to back end server 140b.
  • Back end server 140b provides functionality for conducting processes relating to searches for financial products and services and providing communication between client gateway server 140a and search engine server 140d.
  • Back end server 140b is coupled to search engine server 140d, SMTP ("Simple Mail Transport Protocol") server 140c and client database 150a.
  • SMTP Simple Mail Transport Protocol
  • Client database 150a stores information relating to clients 105 associated with financial products and services transaction site 119.
  • Vendor database 150c stores information relating to vendors 191 providing financial products and services.
  • Products and services database 150d stores information relating to particular products and services provided by vendors 191 stored in vendor database 150c
  • Category database 150b stores a set of site defined categories, which are description items, properties or attributes used to define relationships between vendors 191, products and services and assist in providing robust search and navigation capabilities at financial products and services transaction site 1 19.
  • Each category is provided a category type and can be linked to either products or services, vendors or other categories. For example, some categories may be defined that cannot be linked to either products or services or vendors 191 , in which case the category functions as a grouping category.
  • Qualifier database 250h stores a set of site defined qualifiers, which are utilized to define products and services with respect to the scope or subject of the product or service. Qualifiers typically impute a semantic relationship with respect to products and services. According to one embodiment of the present invention, qualifiers include assets, countries, exchanges, industries, sectors and indices.
  • Keywords database 150e stores a set of defined keywords for associating categories, qualifiers, and/or products or services with various keywords for searching purposes.
  • Wizard page database 150f stores information pages related to a wizard utility, which automatically provides for generation of search queries based upon a guided approach.
  • Wizard selection database 150g stores content information associated with wizard pages.
  • FIG. 2a illustrates a relationship between a number of categories according to one embodiment of the present invention.
  • categories are arranged in a parent-child relationship.
  • FIG. 2a shows a category tree for sample categories 210a-210k.
  • category 210b is a parent of category 21 Oh.
  • a category domain is defined to include all descendants (children) of a category 210 that may be reached via one or more paths.
  • categories 21 Oe, 21 Of, 21 Oi, 21 Oh, 210c, 21 Og, 210k, 210k, 210j and 210d are in the category domain of category 210a.
  • FIG. 2b illustrates the relationship between a set of example categories, vendors and products according to one embodiment of the present invention.
  • categories are linked to products and/or services via a set of weighted links indicated by the number on the link path between the category and the product or service.
  • the category “free” is linked to the product "BBC The Markets” and has link weight 5.
  • the category “Europe” is linked to the vendor "BBC Business News” with link weight 5.
  • FIG. 3 depicts a data structure for storing information related to a category according to one embodiment of the present invention.
  • Category table 305 includes Categoryld field 310, Name field 315, Summarylnfo field 320, IsBrowserVisible field 325, IsCategoricalSearchVisible field 330, Editorld field 710, LastModified field 340, Category Type field 345, SortOrder field 350 and Domain Weight field 355.
  • Categoryldfield 310 stores information related to a unique identifier of a category 210.
  • Name field 315 stores information related to the name of a category 210.
  • Summarylnfo field 320 stores text information related to a category 210.
  • IsBrowserVisible field 325 stores information indicating whether a category 210 is to be displayed within a browser window.
  • IsCategoricalSearchVisible field 330 stores information indicating whether a category 210 is to be visible within a categorical search.
  • Editorld field 710 stores information indicating an identifier of an editor who entered category information into the database for the first time.
  • LastModified field 710 stores information indicating an identifier of the editor who last updated the category 210.
  • Category Type field 345 stores information indicating whether the category may be linked to products and services, vendors and/or qualifiers.
  • SortOrder field 350 stores information relating to the order of a category 210 at a single level/node of a category tree.
  • Domain Weight field 355 stores information relating to the weight of a category domain 250 if a category 210 is at the top of a top level category 210.
  • Products and services table 405 includes PnsID 410, Vendorld field 610, Name field 420, URL field 425, Summarylnfo field 430, IsVisible field 425, Editorld field 710 and LastModifierld field 710.
  • Pnsld field 410 stores a unique identifier of a product or service.
  • Vendorld field 610 stores information relating to the vendor of the good or service.
  • Name field 420 stores a name of the product or service.
  • URL field 425 stores a uniform resource locator for the good or service.
  • Summarylnfo field 430 stores a description of the product or service.
  • IsVisible field 435 stores information indicating whether the product or service is to be visible.
  • Editorld field 710 stores an identifier of the editor who entered the product or service information into the database for the first time.
  • LastModifierld 445 stores an identifier of the editor who last updated the product or service information.
  • FIG. 5 depicts a data structure for storing information related to qualifiers according to one embodiment of the present invention.
  • Qualifier table 505 includes Qualifierld field 510, name field 515 and description field 520.
  • Qualifierld field 520 stores an identifier for the qualifier.
  • Name field 515 stores a name of the qualifier.
  • Description field 520 stores information describing the qualifier.
  • FIG. 6 depicts a data structure for storing information related vendors according to one embodiment of the present invention.
  • Vendor table 605 includes
  • VendorlD field 610 stores a unique identifier of a vendor.
  • Name field 615 stores a name of a vendor.
  • URL field 620 stores a uniform resource locator of a vendor 191.
  • Summarylnfo field 625 stores text describing the vendor 191.
  • Address field 630 stores an address of the vendor.
  • E-mail field 635 stores an e-mail address for a vendor 191.
  • Telephone field 640 stores a telephone number for a vendor 191.
  • FAX field 645 stores a fax number for a vendor 191.
  • IsVisible field 650 stores information indicating whether the vendor 191 is to be visible.
  • Editorld field 710 stores an identifier of an editor who entered the vendor information for the first time.
  • LastModifierld field 710 stores an identifier of the editor who last updated the vendor 191.
  • FIG. 7 depicts a data structure for storing information related to editors according to one embodiment of the present invention.
  • Editor table 505 includes Editorld field 710, Name field 715, Job field 720, E-mail field 725, Password field 730, LastLogin field 735 and DisplayName field 740.
  • Editorld field 710 stores a unique identifier for an editor.
  • Name field 715 stores a login name for an editor.
  • Job field 720 stores a job description and role of an editor.
  • E-mail field 725 stores an e- mail address of an editor.
  • Password field 730 stores a password of an editor.
  • LastLogin field 735 stores a timestamp of the editor's last login.
  • DisplayName field 740 stores information relating to the full name of the editor.
  • FIG. 8a depicts a data structure for storing information related to keywords according to one embodiment of the present invention.
  • Keyword table 805 includes Keywordld 810 and Keyword 815.
  • Keywordld field 810 stores a unique identifier of a keyword.
  • Keyword field 815 stores the actual keyword itself.
  • FIGS. 8b and 9-15 represent various data structures for relating categories 210, qualifiers, keywords, vendors and products and services according to one embodiment of the present invention.
  • FIG. 8b represents a data structure for relating a keyword to a category according to one embodiment of the present invention.
  • Category Key wordRel table 807 stores Keywordld field 410 and Categoryld field 310. Using the relational structure depicted in FIG. 8b, keywords may be related to categories 210 and vice versa.
  • FIG. 9 represents a data structure for relating a category to a product or service according to one embodiment of the present invention.
  • PnsCategoryRel table 905 includes Categoryld field 310, Pnsld field 410, Weight field 920, Editorld field 710 and LastModifierld field 710.
  • Categoryld field 310 stores an identifier for a category 210.
  • Pnsld field 410 stores an identifier for an associated product or service.
  • Weight field 920 stores a weighting value relating the category 210 and the product or service.
  • Editorld field 710 stores an identifier of an editor who related the product or service to the category 210.
  • lastModifierld field 710 stores an identifier of an editor who last modified the relation.
  • FIG. 10 represents a data structure for relating a product and service and a keyword according to one embodiment of the present invention.
  • PnsKeywordRel table 1005 includes Keywordld field 810 and Pnsld field 410.
  • Pnsld field stores an identifier of a product or service.
  • Keywordld field 810 stores a keyword identifier.
  • FIG. 11 represents a data structure for relating a first category to a second category according to one embodiment of the present invention.
  • RelatedCategory table 1105 includes ParentCategoryld field 310, ChildCategoryld field 310 and IsBrowserVisible field 1110.
  • ParentCategoryld field 310 stores an identifier of a category 210 that hierarchically represents a parent of a category 210.
  • ChildCategoryld field 310 stores an identifier of a category 210 that is a child of the associated parent category 210.
  • IsBrowserVisible field 11 10 stores information indicating whether the parent/child relationship is visible.
  • FIG. 12 represents a data structure for relating a category to a qualifier according to one embodiment ofthe present invention.
  • Rel Q C table 1205 includes Categoryld field 310, Qualifierld field 510 and Weight field 1220.
  • Categoryld field 310 stores an identifier of a category 210.
  • Qualifierld field 510 stores an identifier of an associated qualifier.
  • Weight field 1220 stores an associated weight value relating the category 210 and qualifier.
  • FIG. 13 represents a data structure for relating a product and service to a qualifier according to one embodiment ofthe present invention.
  • Rel Q P table 1305 includes Pnsld field 410, Qualifierld field 510 and Weight field 1310.
  • Pnsld field 410 stores an identifier of a product and service.
  • Qualifierld field 510 stores an identifier of a qualifier.
  • Weight field 1310 stores a weight value relating a qualifier to a category 210.
  • FIG. 14 represents a data structure for relating a vendor to a category according to one embodiment ofthe present invention.
  • VendorCategoryRel table 1405 includes Categoryld field 310, Vendorld field 610, Weight field 1410, Editorld field 710 and LastModifierld field 710.
  • Categoryld field 310 stores an identifier of a category 210.
  • Vendorld field 610 stores an associated identifier of a vendor 191.
  • Weight field 1410 stores a weight value relating the vendor 191 and the category 210.
  • Editorld field 710 stores an identifier of an editor who first related the vendor the category 210.
  • LastModifierfield 710 stores an identifier of an editor who last related the vendor to the category 210.
  • FIG. 15 represents a data structure for relating a keyword to a vendor according to one embodiment ofthe present invention.
  • VendorKey wordRel table 1505 includes Keywordld field 410 and Vendorld field 610.
  • Keywordld field 410 stores an identifier of a keyword and Vendorld field 610 stores an identifier of an associated vendor 191.
  • FIG. 16 represents a data structure for storing information relating to a wizard page according to one embodiment ofthe present invention.
  • WizardPage table 1605 includes WizardPageld field 1610, title field 1615, description field 1620 and IsDone field 1625.
  • WizardPageld 1610 field stores a unique identifier of a wizard page.
  • Title field 1615 stores a title associated with the wizard page.
  • Description field 1620 stores a text description ofthe wizard page.
  • IsDone field 1625 stores information relating to overall operation ofthe wizard page.
  • FIG. 17 represents a data structure for storing information relating to content of a wizard page according to one embodiment ofthe present invention.
  • WizardSelection table 1705 includes WizardSelectionld field 1710, WizardPageld field 1610, SelectionText field 1715, Categoryld field 310 and nextLevelPageld field 1720.
  • WizardPageSelectionld field 1710 stores a unique identifier of a wizard selection.
  • WizardPageld field 1610 stores an identifier of a wizard page to include the wizard selection.
  • Categoryld field 310 stores an identifier of an associated category 210.
  • NextLevelPageld 1720 stores an identifier ofthe wizard page when the wizard selection is selected.
  • FIG. 18 depicts a physical data model for an objective search engine according to one embodiment ofthe present invention.
  • FIG. a relationship between various data structure tables described in FIGS. 3-17 above.
  • Search engine 123 provides a number of different search methods and search interfaces including a category search, a keyword search, a qualifier-based search, a wizard search and a browse by category search.
  • a category search interface provides clients with a GUI for conducting a search by selecting "related categories” (i.e., categories the user has identified as being related to the desired search) and "non-related categories” (i.e., categories that the user has identified as not being related to the desired search).
  • the category search GUI also provides for input of a sorting parameter based on relevance, alphabetical order, usage and rating (described in more detail below).
  • clients 105 may select parameters for determining the presentation of results (e.g., number of search results per page, detail of search results, etc.).
  • FIG. 19 is a flowchart that depicts a process for a category search according to one embodiment ofthe present invention.
  • the category search is initiated in step 1905.
  • negative and positive categories 210 are received.
  • a client 105 may specify those categories 210 deemed positive those negative with respect to a particular category search.
  • a pool of all products and services related to positive categories 210 specified are generated. That is, all products and services in the category domain of specified positive categories 210 are determined. This may be accomplished by determining all descendent children categories 210 of positive categories 210 specified by a user.
  • step 1915 all products and services relating to vendors 191 associated with positive categories 210 are added to the pool. According to one embodiment, this is accomplished by searching VendorCategoryRel table 1405, which relates vendors 191 to categories 210.
  • step 1920 a resulting set of products and services is generated by determining the intersection of all products and services relating to positive categories.
  • products relating to negative categories 210 are removed from the pool. According to one embodiment, this is accomplished by utilizing PnsCategoriesRel table 905, RelatedCategory table 1105 and VendorCategory table 1405.
  • a relevance weight is determined for each product. Relevance weighting may be determined utilizing any weighting scheme desired. According to one embodiment relevance weight is determined by summing for all paths between categories 210 and specific products and services using Weight field 920 of
  • PnsCategoryRel table 905 which relates categories to products and services.
  • results ofthe category search are presented to client 105 based on the relevance values determined in step 1930.
  • the process ends in step 1940.
  • the present invention also provides a keyword search.
  • a keyword search GUI provides clients 105 with a GUI for inputting Boolean keyword expressions related to desired products and services.
  • a powerful keyword search mechanism can be established utilizing the relationships between keywords in a keyword pool, and category, product, vendor items.
  • a client 105 may enter a Boolean or natural language search string asking for a particular product or service. This text is parsed to search for keywords in the keyword database 150e, assigning keywords a relative weight with respect to one another. Additionally some words are sought in the text which have some coded meaning modifying the search logic, in particular, to make category selections positive or negative, such as "NOT", "+”, “AND”, “-”, etc.
  • step 20 is a flowchart that depicts a set of steps for conducting a keyword search according to one embodiment ofthe present invention.
  • the process is initiated in step 2005.
  • a client 105 provides input relating to specified positive and negative keywords.
  • a pool is generated for all products and services related to each positive keyword specified by the client 105. According to one embodiment, this is accomplished by searching PnsKeywordRel table 905 and Keyword table 805.
  • step 2020 for each positive keyword specified, all products and services associated with related categories 210 are added to the pool. According to one embodiment ofthe present invention, this is accomplished by searching CategoryKeywordRel table 805.
  • step 2025 for each positive keyword specified, all products and services associated with related vendors 191 are added to the pool.
  • this is accomplished by searching VendorKey wordRel table 1405.
  • step 2030 an intersection of all products and services for each positive keyword is generated.
  • step 2035 all products and services relating to negative specified keywords are removed from the pool.
  • step 2036 all products in the pool related to categories 210 associated with negative keywords are removed.
  • step 2037 all products and services related to vendors 191 associated with negative keywords are removed from the pool.
  • step 2040 a relevance value is determined for each product and service in the pool.
  • the results are presented to the client 105.
  • the process ends in step 2050.
  • a wizard search is also provided. The wizard search technique allows clients 105 to build search queries by traversing specifically designed wizard pages.
  • a wizard page is a specified area in which a set of wizard selections is located. Each page contains a title, a user-friendly description ofthe selection to guide the users and navigation buttons. Wizard selections can be viewed and selected using a drop-down list. Upon making a selection among them, the client 105 either moves to the next wizard page by clicking a navigation button or finishes the search. When the client 105 has finished wizard navigation, a set of related categories are generated (based upon the wizard selections made). These categories are then used to perform a selective search using the algorithm described above.
  • a browse by category interface operates like a file browser in an operating system.
  • a client may navigate the metastructure defining the relationship between categories, vendors and products and services using a GUI.
  • the client is presented with two windows, a category tree and a linked active area, which are presented in separate panes.
  • the client may expand top- level categories that are of interest to view.
  • clients may specify a sorting criteria for presenting search results.
  • four ordering schemes are provided.
  • alphabetical sort order products are listed in ascending order by their names.
  • rating sort order mode the resulting products are listed in descending order by their total ratings that are provided by the users through the web site user interface.
  • usage sort order mode the resulting products are listed in descending order by their usage (usage is defined as the number of times a product's URL is clicked).
  • a client 105 is presented with a list of products based on the search criteria.
  • the client 105 has the option of making a demand based on the search.
  • This demand item consists of a title ofthe demand, a description, and some other attributes defining the demand urgency, budget limits etc.
  • the demand is stored as an item to present to vendors. Vendors 191 may browse through these demands using the same category tree described in the selective search. Additionally, these demands may be presented as news for all ofthe vendors to attract more attention.
  • a "focused vendor set" can be defined based on the category selections used to find the results set which originally the user has made the demand from. The demand ofthe user/buyer can be sent initially to vendors in the "focused vendor set.”
  • FIG. 21 is a flowchart that depicts a qualifier-based search according to one embodiment of the present invention.
  • the process is initiated in step 2105.
  • input parameters are received from a client.
  • a qualifier-based search may utilize three arguments.
  • a first argument received indicates whether the client 105 desires to search based upon a ticker symbol or a company name.
  • a second argument received is a search string that either specifies a ticker symbol or a company name depending upon the first argument.
  • a third argument received is an information type category (“ITC”) parameter, which is a specific category 205. Only categories included within the category domain ofthe specified ITC parameter will be presented to a client.
  • ITC information type category
  • step 2115 based upon the provided input parameters a list of all related qualifiers is generated.
  • a ticker symbol was specified by the client 105
  • a symbol table is utilized to determine matching qualifiers.
  • the client specified a company name based search
  • a full text search is initiated to find all related qualifiers.
  • step 2121 based upon qualifiers identified in step 2115 and the ITC parameter provided by the client 105, all products related to the qualifier in the ITC domain are added to a pool.
  • step 2125 all categories 205 related to the qualifiers determined in step 2125 are determined.
  • step 2130 all products related to categories determined in step 2125 and related to qualifiers determined in step 2115 are added to the product pool.
  • step 2135 all products in the product pool related to categories 210 but not related to categories associated with the qualifiers are removed.
  • step 2140 a relevance weight value is determined for each product in the product pool based upon paths associated with each product.
  • step 2150 results are presented to the client.105.
  • step 2155 A system and method for facilitating transactions for products and services between vendors and buyers over an information network such as the Internet has been described. According to one embodiment, the present invention is applied to vendors of financial products and services. However, the present invention may also be applied in any type of market that may involve a diverse set of product categories.

Landscapes

  • Business, Economics & Management (AREA)
  • Accounting & Taxation (AREA)
  • Finance (AREA)
  • Engineering & Computer Science (AREA)
  • Development Economics (AREA)
  • Economics (AREA)
  • Marketing (AREA)
  • Strategic Management (AREA)
  • Technology Law (AREA)
  • Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • General Physics & Mathematics (AREA)
  • Theoretical Computer Science (AREA)
  • Information Retrieval, Db Structures And Fs Structures Therefor (AREA)

Abstract

The present invention provides a system and method for facilitating transactions for products between vendors and buyers over an information network such as the Internet 150b, 150c, 114). According to one embodiment, the present invention is applied to vendors of financial products and services. However, the present invention may also be applied in any type of market that may involve a diverse set of product categories.

Description

METHOD AND SYSTEM FOR
FACILITATING TRANSACTIONS FOR
PRODUCTS AND SERVICES BETWEEN VENDORS AND BUYERS
FIELD OF THE INVENTION
The present invention relates to electronic information systems. In particular, the present invention provides a method and system for facilitating transactions for products and services between vendors and buyers.
BACKGROUND INFORMATION
The Internet and World Wide Web ("WWW") have revolutionized methods for the distribution and dissemination of electronically stored information. The WWW is a set of software systems that use the Internet to distribute information. Originally designed for dissemination of information within the high-energy physics community, the WWW is an Internet client-server hypertext distributed information retrieval system. The WWW project merges the techniques of information retrieval and a concept known as hypertext to make an easy but powerful global information system. In particular, the Internet has promoted the website as a primary digital repository. The accessibility of the Internet has motivated universities, government bodies and agencies, research institutions, libraries, corporations, etc. to provide electronic information online via websites.
In order to access the WWW, users typically use a program known as a browser. A browser (e.g. Netscape, Internet Explorer, Mosaic, Opera, etc.) runs on the client's computer and provides two basic navigation operations: to follow a link or to send a query to a server. Browser programs typically communicate with servers using HTTP ("Hypertext Transport Protocol"), which is a stateless protocol. Most clients and servers also support "forms" which allow the user to enter arbitrary text as well as selecting options from customizable menus and on/off switches. Although the Internet provides many information sources for locating financial products and services, currently there does not exist a system for searching vendors for particular products and services. Furthermore, known search techniques do not provide any mechanism for conducting intelligent searches for products and services in which products and services are structured and categorized according to relevant topic. Conventional technology also does not provide a method or system to allow a buyer to post a request to a vendor for a particular product or service. These deficiencies arise for a number of reasons. In general, product and service characteristics are non-linear and qualitative and require human intelligence for differentiation. In addition, efficient searching for products requires plurality of search mechanism/interfaces to meet a diversity of user profiles and needs. Furthermore, product categorization requires a multi-level and multi-relational structure in order to satisfy user requirements for finding a particular product or service.
In general, known methods for establishing transactions between buyers and sellers are ill-equipped to address markets involving diverse product ranges, in particular, where there exists no easy method for categorizing products and services that would produce a database that has a usable search fidelity.
SUMMARY OF THE INVENTION The present invention provides a system and method for facilitating transactions for products and services between vendors and buyers over an information network such as the Internet. According to one embodiment, the present invention is applied to vendors of financial products and services. However, the present invention may also be applied in any type of market that may involve a diverse set of product categories.
According to one embodiment, a financial products and services transaction site maintains a database of financial products and services provided by a multiplicity of vendors. The financial products and services transaction site stores a metastructure comprising a plurality of category nodes, which is used to relate and organize the financial products and services. According to one embodiment, the metastructure utilizes a parent-child tree data structure incorporating a weighting function between category nodes. The financial products and services transaction site provides a search engine that allows clients of the financial products and services transaction site to conduct intelligent searches for particular financial products and services using search techniques that are inherently tied to the defined metastructure. In particular, the financial products and services transaction site allows clients to search for financial products and services using a category search based on client specified related and non-related categories, a qualifier search based upon defined qualifiers, a keyword search based on keywords that are linked to various nodes of the metastructure, or using a wizard function that builds a search query by tracking a user's interaction and traversal of pre-defined information or "wizard" pages. The financial products and services transaction site also provides a browser function for allowing clients to traverse the metastructure and selectively view financial products and services. In addition, the financial products and services transaction site provides multiple methods for display of search results. According to one embodiment of the present invention, search results may be ranked alphabetically, in a rating order mode, in a usage order mode or by relevance.
The financial products and services transaction site also provides a bidding mechanism in which clients may post demands to vendors for particular financial products and services not currently available.
BRIEF DESCRIPTION OF THE DRAWINGS
FIG. 1 depicts a network architecture illustrating the relationship between a number of clients, a financial products and services vendor and a financial products and services transaction site according to one embodiment of the present invention.
FIG. 2a illustrates a relationship between a number of categories according to one embodiment of the present invention.
FIG. 2b illustrates a relationship between a set of example categories, vendors and products according to one embodiment of the present invention.
FIG. 3 depicts a data structure for storing information related to a category according to one embodiment of the present invention.
FIG. 4 depicts a data structure for storing information related to products and services according to one embodiment of the present invention.
FIG. 5 depicts a data structure for storing information related to qualifiers according to one embodiment of the present invention.
FIG. 6 depicts a data structure for storing information related vendors according to one embodiment of the present invention. FIG. 7 depicts a data structure for storing information related to editors according to one embodiment of the present invention.
FIG. 8a depicts a data structure for storing information related to keywords according to one embodiment of the present invention.
FIG. 8b represents a data structure for relating a keyword to a category according to one embodiment of the present invention.
FIG. 9 represents a data structure for relating a category to a product or service according to one embodiment of the present invention.
FIG. 10 represents a data structure for relating a product and service and a keyword according to one embodiment of the present invention.
FIG. 1 1 represents a data structure for relating a first category to a second category according to one embodiment of the present invention.
FIG. 12 represents a data structure for relating a category to a qualifier according to one embodiment of the present invention.
FIG. 13 represents a data structure for relating a product and service to a qualifier according to one embodiment of the present invention.
FIG. 14 represents a data structure for relating a vendor to a category according to one embodiment of the present invention.
FIG. 15 represents a data structure for relating a keyword to a vendor according to one embodiment of the present invention.
FIG. 16 represents a data structure for storing information relating to a wizard page according to one embodiment of the present invention. FIG. 17 represents a data structure for storing information relating to content of a wizard page according to one embodiment of the present invention.
FIG. 18 depicts a physical data model for an objective search engine according to one embodiment of the present invention.
FIG. 19 is a flowchart that depicts a process for a category search according to one embodiment of the present invention.
FIG. 20 is a flowchart that depicts a set of steps for conducting a keyword search according to one embodiment of the present invention.
FIG. 21 is a flowchart that depicts a set of steps for conducting a qualifier search according to one embodiment of the present invention.
DESCRIPTION OF THE INVENTION
Although an embodiment of the present invention described herein illustrates implementation of the present invention using the WWW, the present invention may be implemented over any type of information network, public or private, including a WAN ("Wide Area Network"), MAN ("Metropolitan Area Network"), LAN ("Local Area Network"), Intranet, wireless network, etc.
FIG. 1 depicts network architecture illustrating the relationship between a number of clients, a financial products and services vendor and a financial products and services transaction site according to one embodiment of the present invention. Financial products and services transaction site 119 is coupled to Internet 114 via Tl line 130b. The coupling of financial products and services site 119 to Internet 114 using Tl line 130b is merely illustrative. Financial products and services transaction site 1 19 may be coupled to Internet 1 14 using any number of technologies including an ISDN ("Integrated Services Digital Network") connection, a DSL ("Digital Subscriber Line") connection, a T3 line, etc.
Clients 105 may transmit to and receive information from financial products and services transaction site 119 via Internet 1 14. In particular, clients 105a-105d illustrate various types of clients that may be served by financial products and services transaction site 119. For example, client 105a, which is typically a home based client, utilizes personal computer 1 12a and modem 1 15a to connect to Internet 114 via POTS telephone line 117 and Internet service provider 120a (including modem bank 121 and router 135a). Client 105b illustrates a corporate based client that serves financial information to its own clients (e.g., 11 la-11 lb) and effectively operates as a conduit for information provided by financial products and services transaction site 119 and clients 11 la-11 lb. Client 105b is coupled to Internet 114 via Tl line 130c. Client 105c illustrates another example of a corporate client. In this case, client 105c includes network nodes 171a-171c. Network nodes 171 a- 171c at client 105c may conduct transactions with financial products and services information site 119 via Ethernet 181, server 183, Tl line 130d and Internet 114. Finally, client 105d illustrates a typical home user coupled to Internet 1 14 via a broadband connection (in this case cable modem 115b).
FIG. 1 also shows vendor 191 that may communicate with financial products and services transaction site 1 19 via Internet 114 and router 135b.
Financial products and services transaction site 1 19 includes a front end subsystem 124 and a search engine subsystem 123. Front end subsystem 124 provides a graphical user interface ("GUI") for receiving client queries and providing search results to clients 105. Front end subsystem 124 includes client/gateway server 140a and GUI database 150a. According to one embodiment of the present invention, GUI database 150a stores HTML ("Hypertext Markup Language") content. The present invention, however, is not limited to application over Internet 114 and WWW using HTML. Alternative embodiments may be realized over any type of information network, public or private and thus front end subsystem 123 may utilize any mechanism for providing a GUI and for effective content delivery.
Search engine 123 provides functionality for conducting searches for financial products and services. In particular, search engine subsystem 123 includes search engine server 140d, category database 150b, vendor database 150c, products and services database 150d, keyword database 150e, wizard page database 150f, wizard selection database 150g and qualifier database 150h. Databases 150b-150h may be organized in a relational structure to form a relational database for relating categories, keywords, vendors, products and services. Client gateway server 140a is coupled to back end server 140b. Back end server 140b provides functionality for conducting processes relating to searches for financial products and services and providing communication between client gateway server 140a and search engine server 140d. Back end server 140b is coupled to search engine server 140d, SMTP ("Simple Mail Transport Protocol") server 140c and client database 150a.
Client database 150a stores information relating to clients 105 associated with financial products and services transaction site 119. Vendor database 150c stores information relating to vendors 191 providing financial products and services. Products and services database 150d stores information relating to particular products and services provided by vendors 191 stored in vendor database 150c
Category database 150b stores a set of site defined categories, which are description items, properties or attributes used to define relationships between vendors 191, products and services and assist in providing robust search and navigation capabilities at financial products and services transaction site 1 19. Each category is provided a category type and can be linked to either products or services, vendors or other categories. For example, some categories may be defined that cannot be linked to either products or services or vendors 191 , in which case the category functions as a grouping category.
Qualifier database 250h stores a set of site defined qualifiers, which are utilized to define products and services with respect to the scope or subject of the product or service. Qualifiers typically impute a semantic relationship with respect to products and services. According to one embodiment of the present invention, qualifiers include assets, countries, exchanges, industries, sectors and indices.
Keywords database 150e stores a set of defined keywords for associating categories, qualifiers, and/or products or services with various keywords for searching purposes. Wizard page database 150f stores information pages related to a wizard utility, which automatically provides for generation of search queries based upon a guided approach. Wizard selection database 150g stores content information associated with wizard pages.
FIG. 2a illustrates a relationship between a number of categories according to one embodiment of the present invention. As shown in FIG. 2a, categories are arranged in a parent-child relationship. In particular, FIG. 2a shows a category tree for sample categories 210a-210k. Note, for example that category 210b is a parent of category 21 Oh. A category domain is defined to include all descendants (children) of a category 210 that may be reached via one or more paths. Thus, for example, categories 21 Oe, 21 Of, 21 Oi, 21 Oh, 210c, 21 Og, 210k, 210k, 210j and 210d are in the category domain of category 210a.
FIG. 2b illustrates the relationship between a set of example categories, vendors and products according to one embodiment of the present invention. Note that categories are linked to products and/or services via a set of weighted links indicated by the number on the link path between the category and the product or service. For example, the category "free" is linked to the product "BBC The Markets" and has link weight 5. Similarly, the category "Europe" is linked to the vendor "BBC Business News" with link weight 5. FIG. 3 depicts a data structure for storing information related to a category according to one embodiment of the present invention. Category table 305 includes Categoryld field 310, Name field 315, Summarylnfo field 320, IsBrowserVisible field 325, IsCategoricalSearchVisible field 330, Editorld field 710, LastModified field 340, Category Type field 345, SortOrder field 350 and Domain Weight field 355. Categoryldfield 310 stores information related to a unique identifier of a category 210. Name field 315 stores information related to the name of a category 210. Summarylnfo field 320 stores text information related to a category 210. IsBrowserVisible field 325 stores information indicating whether a category 210 is to be displayed within a browser window. IsCategoricalSearchVisible field 330 stores information indicating whether a category 210 is to be visible within a categorical search. Editorld field 710 stores information indicating an identifier of an editor who entered category information into the database for the first time. LastModified field 710 stores information indicating an identifier of the editor who last updated the category 210. Category Type field 345 stores information indicating whether the category may be linked to products and services, vendors and/or qualifiers. SortOrder field 350 stores information relating to the order of a category 210 at a single level/node of a category tree. Domain Weight field 355 stores information relating to the weight of a category domain 250 if a category 210 is at the top of a top level category 210. FIG. 4 depicts a data structure for storing information related to products and services according to one embodiment of the present invention. Products and services table 405 includes PnsID 410, Vendorld field 610, Name field 420, URL field 425, Summarylnfo field 430, IsVisible field 425, Editorld field 710 and LastModifierld field 710. Pnsld field 410 stores a unique identifier of a product or service. Vendorld field 610 stores information relating to the vendor of the good or service. Name field 420 stores a name of the product or service. URL field 425 stores a uniform resource locator for the good or service. Summarylnfo field 430 stores a description of the product or service. IsVisible field 435 stores information indicating whether the product or service is to be visible. Editorld field 710 stores an identifier of the editor who entered the product or service information into the database for the first time. LastModifierld 445 stores an identifier of the editor who last updated the product or service information.
FIG. 5 depicts a data structure for storing information related to qualifiers according to one embodiment of the present invention. Qualifier table 505 includes Qualifierld field 510, name field 515 and description field 520. Qualifierld field 520 stores an identifier for the qualifier. Name field 515 stores a name of the qualifier. Description field 520 stores information describing the qualifier.
FIG. 6 depicts a data structure for storing information related vendors according to one embodiment of the present invention. Vendor table 605 includes
VendorlD field 610, Name field 615, URL field 620, Summarylnfo field 625, Address field 630, E-mail field 635, Telephone field 640, FAX field 645, IsVisible field 650, Editorld field 710 and LastModifierlD field 710. Vendorld field 610 stores a unique identifier of a vendor. Name field 615 stores a name of a vendor. URL field 620 stores a uniform resource locator of a vendor 191. Summarylnfo field 625 stores text describing the vendor 191. Address field 630 stores an address of the vendor. E-mail field 635 stores an e-mail address for a vendor 191. Telephone field 640 stores a telephone number for a vendor 191. FAX field 645 stores a fax number for a vendor 191. IsVisible field 650 stores information indicating whether the vendor 191 is to be visible. Editorld field 710 stores an identifier of an editor who entered the vendor information for the first time. LastModifierld field 710 stores an identifier of the editor who last updated the vendor 191.
FIG. 7 depicts a data structure for storing information related to editors according to one embodiment of the present invention. Editor table 505 includes Editorld field 710, Name field 715, Job field 720, E-mail field 725, Password field 730, LastLogin field 735 and DisplayName field 740. Editorld field 710 stores a unique identifier for an editor. Name field 715 stores a login name for an editor. Job field 720 stores a job description and role of an editor. E-mail field 725 stores an e- mail address of an editor. Password field 730 stores a password of an editor. LastLogin field 735 stores a timestamp of the editor's last login. DisplayName field 740 stores information relating to the full name of the editor.
FIG. 8a depicts a data structure for storing information related to keywords according to one embodiment of the present invention. Keyword table 805 includes Keywordld 810 and Keyword 815. Keywordld field 810 stores a unique identifier of a keyword. Keyword field 815 stores the actual keyword itself.
FIGS. 8b and 9-15 represent various data structures for relating categories 210, qualifiers, keywords, vendors and products and services according to one embodiment of the present invention. FIG. 8b represents a data structure for relating a keyword to a category according to one embodiment of the present invention. Category Key wordRel table 807 stores Keywordld field 410 and Categoryld field 310. Using the relational structure depicted in FIG. 8b, keywords may be related to categories 210 and vice versa. FIG. 9 represents a data structure for relating a category to a product or service according to one embodiment of the present invention. PnsCategoryRel table 905 includes Categoryld field 310, Pnsld field 410, Weight field 920, Editorld field 710 and LastModifierld field 710. Categoryld field 310 stores an identifier for a category 210. Pnsld field 410 stores an identifier for an associated product or service. Weight field 920 stores a weighting value relating the category 210 and the product or service. Editorld field 710 stores an identifier of an editor who related the product or service to the category 210. lastModifierld field 710 stores an identifier of an editor who last modified the relation.
FIG. 10 represents a data structure for relating a product and service and a keyword according to one embodiment of the present invention. PnsKeywordRel table 1005 includes Keywordld field 810 and Pnsld field 410. Pnsld field stores an identifier of a product or service. Keywordld field 810 stores a keyword identifier.
FIG. 11 represents a data structure for relating a first category to a second category according to one embodiment of the present invention. RelatedCategory table 1105 includes ParentCategoryld field 310, ChildCategoryld field 310 and IsBrowserVisible field 1110. ParentCategoryld field 310 stores an identifier of a category 210 that hierarchically represents a parent of a category 210. ChildCategoryld field 310 stores an identifier of a category 210 that is a child of the associated parent category 210. IsBrowserVisible field 11 10 stores information indicating whether the parent/child relationship is visible.
FIG. 12 represents a data structure for relating a category to a qualifier according to one embodiment ofthe present invention. Rel Q C table 1205 includes Categoryld field 310, Qualifierld field 510 and Weight field 1220. Categoryld field 310 stores an identifier of a category 210. Qualifierld field 510 stores an identifier of an associated qualifier. Weight field 1220 stores an associated weight value relating the category 210 and qualifier.
FIG. 13 represents a data structure for relating a product and service to a qualifier according to one embodiment ofthe present invention. Rel Q P table 1305 includes Pnsld field 410, Qualifierld field 510 and Weight field 1310. Pnsld field 410 stores an identifier of a product and service. Qualifierld field 510 stores an identifier of a qualifier. Weight field 1310 stores a weight value relating a qualifier to a category 210. FIG. 14 represents a data structure for relating a vendor to a category according to one embodiment ofthe present invention. VendorCategoryRel table 1405 includes Categoryld field 310, Vendorld field 610, Weight field 1410, Editorld field 710 and LastModifierld field 710. Categoryld field 310 stores an identifier of a category 210. Vendorld field 610 stores an associated identifier of a vendor 191. Weight field 1410 stores a weight value relating the vendor 191 and the category 210. Editorld field 710 stores an identifier of an editor who first related the vendor the category 210. LastModifierfield 710 stores an identifier of an editor who last related the vendor to the category 210.
FIG. 15 represents a data structure for relating a keyword to a vendor according to one embodiment ofthe present invention. VendorKey wordRel table 1505 includes Keywordld field 410 and Vendorld field 610. Keywordld field 410 stores an identifier of a keyword and Vendorld field 610 stores an identifier of an associated vendor 191.
FIG. 16 represents a data structure for storing information relating to a wizard page according to one embodiment ofthe present invention. WizardPage table 1605 includes WizardPageld field 1610, title field 1615, description field 1620 and IsDone field 1625. WizardPageld 1610 field stores a unique identifier of a wizard page. Title field 1615 stores a title associated with the wizard page. Description field 1620 stores a text description ofthe wizard page. IsDone field 1625 stores information relating to overall operation ofthe wizard page.
FIG. 17 represents a data structure for storing information relating to content of a wizard page according to one embodiment ofthe present invention. WizardSelection table 1705 includes WizardSelectionld field 1710, WizardPageld field 1610, SelectionText field 1715, Categoryld field 310 and nextLevelPageld field 1720. WizardPageSelectionld field 1710 stores a unique identifier of a wizard selection. WizardPageld field 1610 stores an identifier of a wizard page to include the wizard selection. Categoryld field 310 stores an identifier of an associated category 210. NextLevelPageld 1720 stores an identifier ofthe wizard page when the wizard selection is selected.
FIG. 18 depicts a physical data model for an objective search engine according to one embodiment ofthe present invention. In particular, FIG. a relationship between various data structure tables described in FIGS. 3-17 above. Search engine 123 provides a number of different search methods and search interfaces including a category search, a keyword search, a qualifier-based search, a wizard search and a browse by category search.
A category search interface provides clients with a GUI for conducting a search by selecting "related categories" (i.e., categories the user has identified as being related to the desired search) and "non-related categories" (i.e., categories that the user has identified as not being related to the desired search). The category search GUI also provides for input of a sorting parameter based on relevance, alphabetical order, usage and rating (described in more detail below). In addition, clients 105 may select parameters for determining the presentation of results (e.g., number of search results per page, detail of search results, etc.).
FIG. 19 is a flowchart that depicts a process for a category search according to one embodiment ofthe present invention. The category search is initiated in step 1905. In step 1910, negative and positive categories 210 are received. A client 105 may specify those categories 210 deemed positive those negative with respect to a particular category search. In step 1912, a pool of all products and services related to positive categories 210 specified are generated. That is, all products and services in the category domain of specified positive categories 210 are determined. This may be accomplished by determining all descendent children categories 210 of positive categories 210 specified by a user. In particular, according to one embodiment ofthe present invention tables PnsCategoriesRel 905, which relates products and services to categories 210 and RelatedCategory table 1105, which relates parent and child categories 210. In step 1915, all products and services relating to vendors 191 associated with positive categories 210 are added to the pool. According to one embodiment, this is accomplished by searching VendorCategoryRel table 1405, which relates vendors 191 to categories 210. In step 1920, a resulting set of products and services is generated by determining the intersection of all products and services relating to positive categories. In step 1925, products relating to negative categories 210 are removed from the pool. According to one embodiment, this is accomplished by utilizing PnsCategoriesRel table 905, RelatedCategory table 1105 and VendorCategory table 1405.
In step 1930, a relevance weight is determined for each product. Relevance weighting may be determined utilizing any weighting scheme desired. According to one embodiment relevance weight is determined by summing for all paths between categories 210 and specific products and services using Weight field 920 of
PnsCategoryRel table 905, which relates categories to products and services. In step 1935, results ofthe category search are presented to client 105 based on the relevance values determined in step 1930. The process ends in step 1940.
According to one embodiment, the present invention also provides a keyword search. A keyword search GUI provides clients 105 with a GUI for inputting Boolean keyword expressions related to desired products and services. A powerful keyword search mechanism can be established utilizing the relationships between keywords in a keyword pool, and category, product, vendor items. A client 105 may enter a Boolean or natural language search string asking for a particular product or service. This text is parsed to search for keywords in the keyword database 150e, assigning keywords a relative weight with respect to one another. Additionally some words are sought in the text which have some coded meaning modifying the search logic, in particular, to make category selections positive or negative, such as "NOT", "+", "AND", "-", etc. FIG. 20 is a flowchart that depicts a set of steps for conducting a keyword search according to one embodiment ofthe present invention. The process is initiated in step 2005. In step 2010, a client 105 provides input relating to specified positive and negative keywords. In step 2015, a pool is generated for all products and services related to each positive keyword specified by the client 105. According to one embodiment, this is accomplished by searching PnsKeywordRel table 905 and Keyword table 805. In step 2020, for each positive keyword specified, all products and services associated with related categories 210 are added to the pool. According to one embodiment ofthe present invention, this is accomplished by searching CategoryKeywordRel table 805. In step 2025, for each positive keyword specified, all products and services associated with related vendors 191 are added to the pool. According to one embodiment ofthe present invention, this is accomplished by searching VendorKey wordRel table 1405. In step 2030, an intersection of all products and services for each positive keyword is generated. In step 2035, all products and services relating to negative specified keywords are removed from the pool. In step 2036, all products in the pool related to categories 210 associated with negative keywords are removed. In step 2037, all products and services related to vendors 191 associated with negative keywords are removed from the pool. In step 2040, a relevance value is determined for each product and service in the pool. In step 2045, the results are presented to the client 105. The process ends in step 2050. According to one embodiment ofthe present invention, a wizard search is also provided. The wizard search technique allows clients 105 to build search queries by traversing specifically designed wizard pages. A wizard page is a specified area in which a set of wizard selections is located. Each page contains a title, a user-friendly description ofthe selection to guide the users and navigation buttons. Wizard selections can be viewed and selected using a drop-down list. Upon making a selection among them, the client 105 either moves to the next wizard page by clicking a navigation button or finishes the search. When the client 105 has finished wizard navigation, a set of related categories are generated (based upon the wizard selections made). These categories are then used to perform a selective search using the algorithm described above.
A browse by category interface operates like a file browser in an operating system. In particular, using the browse by category feature, a client may navigate the metastructure defining the relationship between categories, vendors and products and services using a GUI. The client is presented with two windows, a category tree and a linked active area, which are presented in separate panes. The client may expand top- level categories that are of interest to view.
For selective, keyword, wizard and browse by category searches, clients may specify a sorting criteria for presenting search results. According to one embodiment, four ordering schemes are provided. In alphabetical sort order products are listed in ascending order by their names. In rating sort order mode, the resulting products are listed in descending order by their total ratings that are provided by the users through the web site user interface. In usage sort order mode the resulting products are listed in descending order by their usage (usage is defined as the number of times a product's URL is clicked).
According to one embodiment ofthe present invention, at the final phase of category search, wizard, or keyword search, a client 105 is presented with a list of products based on the search criteria. The client 105 has the option of making a demand based on the search. This demand item consists of a title ofthe demand, a description, and some other attributes defining the demand urgency, budget limits etc. The demand is stored as an item to present to vendors. Vendors 191 may browse through these demands using the same category tree described in the selective search. Additionally, these demands may be presented as news for all ofthe vendors to attract more attention. According to one embodiment ofthe present invention, a "focused vendor set" can be defined based on the category selections used to find the results set which originally the user has made the demand from. The demand ofthe user/buyer can be sent initially to vendors in the "focused vendor set."
FIG. 21 is a flowchart that depicts a qualifier-based search according to one embodiment of the present invention. The process is initiated in step 2105. In step 21 10, input parameters are received from a client. According to one embodiment of the present invention, a qualifier-based search may utilize three arguments. A first argument received indicates whether the client 105 desires to search based upon a ticker symbol or a company name. A second argument received is a search string that either specifies a ticker symbol or a company name depending upon the first argument. A third argument received is an information type category ("ITC") parameter, which is a specific category 205. Only categories included within the category domain ofthe specified ITC parameter will be presented to a client.
In step 21 15, based upon the provided input parameters a list of all related qualifiers is generated. In particular, according to one embodiment ofthe present invention if a ticker symbol was specified by the client 105, a symbol table is utilized to determine matching qualifiers. On the other hand, if the client specified a company name based search, a full text search is initiated to find all related qualifiers. In step 2121, based upon qualifiers identified in step 2115 and the ITC parameter provided by the client 105, all products related to the qualifier in the ITC domain are added to a pool. In step 2125, all categories 205 related to the qualifiers determined in step 2125 are determined. In step 2130, all products related to categories determined in step 2125 and related to qualifiers determined in step 2115 are added to the product pool. In step 2135, all products in the product pool related to categories 210 but not related to categories associated with the qualifiers are removed. In step 2140, a relevance weight value is determined for each product in the product pool based upon paths associated with each product. In step 2150, results are presented to the client.105. The process ends in step 2155. A system and method for facilitating transactions for products and services between vendors and buyers over an information network such as the Internet has been described. According to one embodiment, the present invention is applied to vendors of financial products and services. However, the present invention may also be applied in any type of market that may involve a diverse set of product categories.

Claims

What Is Claimed Is:
1. A method for providing information relating to financial products and services comprising the steps of:
(a) associating each of a plurality of financial products and services with at least one category;
(b) receiving at least one input parameter including at least a negative category and a positive category; and,
(c) generating a pool of related products and services, wherein the pool includes at least one of a financial product and a financial service related to positive category and not related to a negative category.
2. The method according claim 1, further including the step of determining a relevance value for each product and service in the pool as a function of at least one weight value associating a category and a product and service.
3. The method according to claim 2, wherein the relevance value is determined by finding all paths to a product and service from the at least one positive category.
4. The method according to claim 1, further including the step of transmitting information related to the pool of related products and services over an information network to a client.
5. The method according to claim 4, further including the step of transmitting information to the client related to a display of information for the pool of related products and services.
6. A method for providing information relating to financial products and services comprising the steps of:
(a) associating each of a plurality of financial products and services with at least one category;
(b) associating each of a plurality of financial products and services with at least one qualifier;
(c) associating at least one category with a qualifier; (d) receiving at least one input parameter relating to one of a symbol name and a search name and a category;
(e) determining at least one identified qualifier associated with one ofthe symbol name and the search name; and,
(f) determining relevant products and services, wherein the relevant products and services are associated with an identified qualifier.
7. The method according to claim 6, further including the steps of:
(a) determining at least one identified category associated with the identified qualifiers; and,
(b) determining second relevant products and services, wherein each ofthe second relevant products and services are related to an identified category.
8. The method according to claim 7, further including the step of determining a relevance value for each relevant product and service as a function of at least one weight value between a relevant product and service and a category and a domain weight value.
9. The method according to claim 8, wherein the relevance value is determined by finding all paths to a product and service from an identified category and an identified qualifier.
10. The method according to claim 6, further including the step of transmitting information related to the relevant products and services over an information network to a client.
1 1. The method according to claim 10, further including the step of transmitting information related to a display of information related to the relevant products and services to a client.
12. A system for providing information relating to financial products and services comprising: (a) memory storage means for storing a plurality of financial products and services and categories and wherein the plurality of financial products and services are each associated with at least one category;
(b) a processor, wherein the processor is adapted to:
(i) receive at least one input parameter including at least a negative category and a positive category; and,
(ii) determine relevant products and services, wherein relevant products and services include at least one of a financial product and a financial service related to positive category and not related to a negative category.
PCT/US2000/031315 1999-11-15 2000-11-15 Method and system for facilitating transactions for products and services between vendors and buyers WO2001037173A1 (en)

Priority Applications (1)

Application Number Priority Date Filing Date Title
AU16098/01A AU1609801A (en) 1999-11-15 2000-11-15 Method and system for facilitating transactions for products and services between vendors and buyers

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
US16573599P 1999-11-15 1999-11-15
US60/165,735 1999-11-15

Publications (1)

Publication Number Publication Date
WO2001037173A1 true WO2001037173A1 (en) 2001-05-25

Family

ID=22600229

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/US2000/031315 WO2001037173A1 (en) 1999-11-15 2000-11-15 Method and system for facilitating transactions for products and services between vendors and buyers

Country Status (2)

Country Link
AU (1) AU1609801A (en)
WO (1) WO2001037173A1 (en)

Citations (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US5475585A (en) * 1990-10-01 1995-12-12 Bush; Thomas A. Transactional processing system

Patent Citations (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US5475585A (en) * 1990-10-01 1995-12-12 Bush; Thomas A. Transactional processing system

Also Published As

Publication number Publication date
AU1609801A (en) 2001-05-30

Similar Documents

Publication Publication Date Title
US11227100B2 (en) Method and system for sharing documents between on-demand services
Burke Knowledge-based recommender systems
US7031961B2 (en) System and method for searching and recommending objects from a categorically organized information repository
US8495211B2 (en) Network service system and mechanism for searching service registries
US8843481B1 (en) System and method of forming action based virtual communities and related search mechanisms
US9501453B2 (en) Method and system for a flexible-data column user interface
US6523021B1 (en) Business directory search engine
US20010049674A1 (en) Methods and systems for enabling efficient employment recruiting
US20120215762A1 (en) Method and System for Automated Search for, and Retrieval and Distribution of, Information
CN100461159C (en) Hierarchical data-driven navigation system and method for information retrieval
US20030033274A1 (en) Hub for strategic intelligence
JP2006012197A (en) Method and system of database query and information delivery
US20040204958A1 (en) Electronic registration manager for business directory information
CN101073077A (en) User creating and rating of attachments for conducting a search directed by a hierarchy-free set of topics, and a user interface therefor
KR20100094021A (en) Customized and intellectual symbol, icon internet information searching system utilizing a mobile communication terminal and ip-based information terminal
WO2007041714A1 (en) Customizable ordering of search results and predictive query generation
WO2005091825A2 (en) Keyword recommendation for internet search engines
JP2001265808A (en) System and method for information retrieval
US8832097B2 (en) Vertical search expansion, disambiguation, and optimization of search queries
Balabanovic Learning to Surf: Multiagent systems for adaptive Web page recommendation
US20030046289A1 (en) Meta browsing with external execution of third party services
Boyapati et al. ChangeDetector™: a site-level monitoring tool for the WWW
WO2001037173A1 (en) Method and system for facilitating transactions for products and services between vendors and buyers
Haruechaiyasak et al. A web-page recommender system via a data mining framework and the semantic web concept
Kong et al. An Internet‐based electronic product catalogue of construction materials

Legal Events

Date Code Title Description
AK Designated states

Kind code of ref document: A1

Designated state(s): AE AG AL AM AT AU AZ BA BB BG BR BY BZ CA CH CN CR CU CZ DE DK DM DZ EE ES FI GB GD GE GH GM HR HU ID IL IN IS JP KE KG KP KR KZ LC LK LR LS LT LU LV MA MD MG MK MN MW MX MZ NO NZ PL PT RO RU SD SE SG SI SK SL TJ TM TR TT TZ UA UG US UZ VN YU ZA ZW

AL Designated countries for regional patents

Kind code of ref document: A1

Designated state(s): GH GM KE LS MW MZ SD SL SZ TZ UG ZW AM AZ BY KG KZ MD RU TJ TM AT BE CH CY DE DK ES FI FR GB GR IE IT LU MC NL PT SE TR BF BJ CF CG CI CM GA GN GW ML MR NE SN TD TG

121 Ep: the epo has been informed by wipo that ep was designated in this application
DFPE Request for preliminary examination filed prior to expiration of 19th month from priority date (pct application filed before 20040101)
REG Reference to national code

Ref country code: DE

Ref legal event code: 8642

122 Ep: pct application non-entry in european phase