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

Derek W. Bunn and Stefania Pantelidaki
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Derek W. Bunn: London Business School, UK, Postal: London Business School, UK
Stefania Pantelidaki: London Business School, UK, Postal: London Business School, UK

Journal of Forecasting, 2005, vol. 24, issue 7, 505-521

Abstract: 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. Copyright © 2005 John Wiley & Sons, Ltd.

Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:jof:jforec:v:24:y:2005:i:7:p:505-521

DOI: 10.1002/for.945

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