neural Networks Operations Management Assignment Help

neural Networks

neural networks represent a relatively new and growing area of forecasting. Unlike the more common statistical forecasting techniques such as time-series analysis and regression analysis neural networks simulate human learning. Thus. over time and with repeated use. neural networks can develop an understanding of the complex relationships that exist been input into a forecasting model and the outputs. For example. in a every ice operation input might include such factors as historic sales weather time of day day of week nth The output would be the number of customers that are expected to arrive on a e day and in a given time period. In addition neural networks perform computation

much faster than traditional forecasting technique-. For example. the Southern Company which is a utility company that provides electric to throughout the south currently uses neural networks to forecast short-term pow er requirements a week to 10 day s ahead. Previously only midterm forecasting. that is three months ahead was feasible with traditional forecasting techniques

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