Dynamic modeling for product family evolution combined with artificial neural network based forecasting model: A study of iPhone evolution

Sumana Biswas, Ismail Ali, Ripon K. Chakrabortty, Hasan Hüseyin Turan, Sondoss Elsawah and Michael J. Ryan

Technological Forecasting and Social Change, 2022, vol. 178, issue C

Abstract: Products continuously evolve over time. Realizing the pattern of product family evolution along with proper estimation of features for future products has been regarded as a critical issue for business success. Focusing on this issue, a dynamic model for product family evolution combined with forecasting is proposed in this research work. The proposed model considers the influence of market demand, customer needs and technological requirements that are time-dependent. The methodology is a four-phase model. In this model the evaluations of product family evolution are based on the Grey Relational Analysis and Fuzzy Analytical Hierarchy Process. Sensitivity is performed to investigate the reliability of the model. In addition, a data-driven neural network-based forecasting model is proposed that can forecast the specification of the most influential features of future product with a reasonable accuracy. This forecasting model utilizes the information of the previous generation’s product. For each phase, the effectiveness of the developed approach is demonstrated with numerical simulation results and validated with a case study of Apple’s iPhone product family. The case study shows that the approach is very effective to identify the most influential key design features and best performed products that will influence the evolution design of future product.

Keywords: Product family evolution; Dynamic model; Neural network; Forecasting model; Grey relational analysis; Fuzzy analytical hierarchy process (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:178:y:2022:i:c:s0040162522000816

DOI: 10.1016/j.techfore.2022.121549

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