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Development of a multifunctional sales response model with the diagnostic aid of artificial neural networks

✍ Scribed by Stefania Pantelidaki; Derek W. Bunn

Publisher: John Wiley and Sons
Year: 2005
Tongue: English
Weight: 161 KB
Volume: 24
Category: Article
ISSN: 0277-6693
DOI: 10.1002/for.945

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✦ Synopsis

This paper proposes an approach that models and forecasts sales through a flexible parametric response function (multifunctional), allowing for differentiated behavioural assumptions of the response determinants to be specified, and uses neural network modelling as a re-specification tool for the response model in order to improve forecasting performance. An initial experiment on a sample of sales data demonstrates feasibility and gives comparative insights via alternative model specifications.

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