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EVE New Citizens Q&A

 
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Understanding the market statistics

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Sil3ence Athonille
The Scope
Gallente Federation
#1 - 2015-05-13 14:23:34 UTC
SO I've been using eve-central's API to download market data to my excel docs for a while now. I used a tutorial to learn how and the author just said to use percentile8 for the price. There are numerous categories of data there, and I generally understand what I'm looking at, but I'm still uncertain about a few things.

1.) Why are there 3 sets of data? volume, volume 2, and volume 9?
2.) The statistics are repeated in each volume, but with different number, and I can't see a pattern. i.e. min,min5,min12; percentile, percentile8, percentile15.
3.) Since I usually list my items at the lowest price to beat competition, isn't just using the min,min5,min12 numbers the best choice? Of course I would check it when I got to the market, but to have a better idea.

I want to emphasize, I'm not asking for a detailed explanation of each dataset. I understand what avg, min, max, stdev, but I don't understand what the three sets of volumes are for and why the seemingly random numbers after each set.

I've tried to research, but I've not found much. I'm either missing the proper search term..... or because I'm in China and limited to using Baidu, I'm not getting good results.

Any clarification would be MUCH appreciated

o7
Tau Cabalander
Retirement Retreat
Working Stiffs
#2 - 2015-05-13 18:02:12 UTC
You are asking questions about the EVE-Central API... a third-party API.

You may have better luck asking for help in the EVE Technology Lab forum. That's where the EVE API, CREST, and database experts hangout.
13kr1d1
Hedion University
Amarr Empire
#3 - 2015-05-14 17:10:21 UTC
Understanding market statistics:

See volume of sales for a good.
See Min sell and Max sell for a good over time.
Is the price dropping even though there is an overall seller's market indicated by high max sales price?
If yes, buy now, prices will go up again.
If not, don't buy.

Enjoy.

Don't kid yourselves. Even the dirtiest pirates from the birth of EVE have been carebears. They use alts to bring them goods at cheap prices and safely, rather than live with consequences of their in game actions on their main, from concord to prices
Phineas Evotori
Native Freshfood
Minmatar Republic
#4 - 2015-05-16 12:18:43 UTC
13kr1d1 wrote:
Understanding market statistics:

See volume of sales for a good.
See Min sell and Max sell for a good over time.
Is the price dropping even though there is an overall seller's market indicated by high max sales price?
If yes, buy now, prices will go up again.
If not, don't buy.

Enjoy.

That is not at all what he asked.
Steve Ronuken
Fuzzwork Enterprises
Vote Steve Ronuken for CSM
#5 - 2015-05-17 02:09:48 UTC
The percentile prices are there to eliminate outliers. They're not perfect (especially on buy orders) but they have their uses.

Short version:
Buy X percent of the market (or sell to it) at the price set for each order.
Average the price out over all those orders.


So if you had, for example, 100 units of something available to buy, spread out over the following orders:
1 at 0.01
120 at 5
500 at 50
379 at 90

Then the 5% price would be 4.9. Which is far closer to the truth than the minimum of 0.01, the median of 50, or the mean of 59

(The numbers are artificial, but I'd hope you get the point.)

Woo! CSM XI!

Fuzzwork Enterprises

Twitter: @fuzzysteve on Twitter