Neural Networks

Neural networks are best at identifying patterns or trends in data, and they are best well suited for prediction or forecasting needs including:

Sales forecasting

Industrial process control

Customer research

Data validation

Risk management

Target marketing

In the business field with several general areas of accounting and financial analysis, and any neural network application would fit into one business area or financial analysis; resource allocation and scheduling; database mining, searching for patterns implicit within explicitly stored information in databases.

There is a marketing application, which has been integrated with a neural network system. The Airline Marketing Tactician (AMT) is a computer system made of various intelligent technologies including expert systems. Neural networks have a huge potential we will only get the best of when they are integrated with computing, AI, fuzzy logic, and related subjects.

Recent studies reported neural network business application studies utilize multilayered feedforwarded neural networks (MFNNs) with the back-propagation learning rule. This is popular because of its broad applicability to many problem domains of relevance to business: principally prediction, classification, and modeling.