KDnuggets : News : 2004 : n22 : item19 < PREVIOUS | NEXT >

Briefs

Terapeak Uses Data Mining To Uncover eBay Market Trends

VICTORIA, British Columbia--(BUSINESS WIRE)--Nov. 9, 2004--Terapeak www.terapeak.com, an Internet research company based in Victoria, BC. today announced the launch of its eBay (NASDAQ:EBAY) data mining toolset for eBay entrepreneurs. Terapeak's proprietary "smart search" technology accesses licensed data from closed auctions on eBay and makes it available online. Using Terapeak, eBay sellers can instantly research up-to-the-minute prices and demand for items sold on eBay -- from diamonds to DVDs, electronics to appliances. Terapeak is the first company authorized by eBay to perform statistical analysis of eBay's categories.

Terapeak participates in eBay's data licensing program which gives qualified companies access to eBay's closed auction data. Terapeak helps eBay users sell more effectively by giving them the information they need to accurately understand and predict the performance of their eBay listings. Using Terapeak, sellers can compare the previous sales success of different listings for exactly the same items.

A Terapeak analysis showed that one seller listed 30,000 items with a 17 percent success rate while another other listed 2,500 identical items with a 73 percent success rate. Both offered competitive shipping prices, both were power sellers with better than 98 percent positive feedback and both had attractive and detailed auction pages. Terapeak revealed the major difference between these two sellers was the starting price of their auctions. The more successful seller nearly always started auctions at or just below the average market price while the other seller started consistently higher.

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KDnuggets : News : 2004 : n22 : item19 < PREVIOUS | NEXT >

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