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Competitive Intelligence through neural networks

โœ Scribed by Milam Aiken

Publisher
John Wiley and Sons
Year
1999
Weight
124 KB
Volume
10
Category
Article
ISSN
1058-0247

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โœฆ Synopsis

A "neural network" is a computer-based simulation that can be used to predict future prices, sales, and other economic activity. This forecasting technique employs artificial intelligence software to improve overall accuracy. Typically, this involves a three-stage process in which (1) decisions are made about what the input variables and learning parameters will be; (2) the network is trained using a subset of the data until the average error between the forecast and the actual values is reduced to a minimum; and (3) the "trained" neural network is used to test new variables and make improved forecasts. Several easy-to-use software programs for creating neural networks on personal computers are now available. The author provides examples showing how neural networks can be used to improve competitive intelligence decision making, as compared with statistical forecasting methods or educated guesses.

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