A Comparative Study on Business Forecasting Accuracy among Neural Networks and Time Series
Keywords:
forecasting, neural networks, time series.Abstract
This study shows that neural networks have been advocated as an alternative to traditional statistical forecasting methods. Numerous articles comparing performances of statistical and Neural Networks (NNs) models are available in the literature. The need for increased accuracies in time series forecasting has motivated the researchers to develop innovative models. The results obtained in this study suggest that the approach of combining the strengths of the conventional and ANN techniques provides a robust modeling framework capable of capturing the non-linear nature of the complex time series and thus producing more accurate forecasts.
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