#3 - Calculated Worth
This is update #3 in our weekly series of new features and improvements.
This week, we are introducing a new concept: calculated worth, to show you at which price a product would be recommended.
Definition: Maximum price of a product to be the best value compared to its competition.
This number is automatically updated every hour, based on the scores and prices of all products we've tested.
How it is calculated
To better understand how it is calculated, consider all the products on a chart, where the X axis is the price, and Y is the rating.
On that chart, the best products for the money are the ones on top, since they have a better performance at a smaller cost than the rest.
Removing lesser value products
The first step is to remove all the points that are not as good a value as other points. To do so, we consider a point a better value than another point if it is cheaper and better. A padding of 10% for price and 0.1 for score is applied to remove not significant differences.
The maximum price a product needs to be to be a better value is where its score meets the boundary line. It is important not to include the product we want to know its value before generating the boundary line, otherwise, it will always be equal to its price if it is on the boundary line and not the maximum price it could be while still being recommended.
If the rating is completely above the boundary line, we display 'best' instead of a value since there cannot be a value assigned to a product whose performance is far from the pack.
1) Doesn't tell you which one to buy
This number alone doesn't tell you which product to buy. It will only tell you if the price it currently sells at is a good value.
2) Your needs must match one of our ratings
This number assumes your needs match one of our ratings (see how our ratings are calculated, or click next to a rating on a review). If you have a different need than one of our official ratings, then what a product is worth to you could be different. If so, you will need to use our more advanced tool and create your own rating.
3) Same score can have different worth
Since we want to know the maximum price of a product to be recommended, two products with the same score can have two different worth. For example, in the illustrations above, product 1 and product 2 have the same rating. The maximum price of product 1 to be a better value than product 2 is equal to the current price of product 2. For product 2, the maximum price to be a better value than product 1 is the current price of product 1. Therefore in this case, since the current price of product 2 is higher than product 1, the market value of product 2 is less than product 1.
Up until now, we didn't have any indication on the review whether a product was good for its price. With this number, you will now know how its performance is compared to the competition. At the same time, it will answer your questions like how much does a product needs to be discounted to be a good value.
At first, we are adding this new feature to TV reviews only. If you like it, we will add it to headphones too.
In the next few weeks, we will add new features that use that number to help you find even faster the best product for your needs. Let us know if you have comments or ideas about features we can add.
Questions & Answers
There seems to be a problem with your "Recommended if under" algorithm. The Sony X900E is currently listed as a good deal if under $1,370, while the slightly higher-rated X930E is only listed as a good deal if under $1,090.
The better TV should always have a higher recommended purchase price, right?
Thank you for contacting us.
Unfortunately this quirk is a result of the tool's design - the X930E and X900E perform similarly enough that for most uses they are extremely similar, even though the X930E is slightly better (<0.1 difference in mixed usage score). For our tool, the assumption is made that if a product didn't exist, then the market value of that product is based upon the other available products in the market.
If the X900E didn't exist, then the closest performer is the X930E so the value of the X900E is slightly less than the retail price of the X930E for the X900E (for our tool this is 10% less).
On the other hand, if the X930E didn't exist then the closest performer is the cheaper X900E. In this case the value of the X930E is based off the selling price of the X900E - which is a bit lower than the reversed situation.
Before asking a question, make sure you use the search function of our website. The majority of the answers are already here.