Efficacy of Artificial Neural Networks (ANN) as a Tool for Predictive Analytics

Deepti Sinha (), Pradeepta Kumar Sarangi () and Sachin Sinha ()
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Deepti Sinha: CHRIST (Deemed to be University)
Pradeepta Kumar Sarangi: Chitkara University
Sachin Sinha: CHRIST (Deemed to be University)

A chapter in Analytics Enabled Decision Making, 2023, pp 123-138 from Springer

Abstract: ABSTRACT Predictive analytics could also be defined as the application of statistical techniques and mathematical modeling to anticipate the future performance and expected return on investments. Predictive analytics examines the most recent and the historical data to see if the same pattern is likely to reoccur or not. This gives an opportunity to businessmen and financial investors to make an appropriate decision about their investments and expected returns. Ever since the development of ANN technique, researchers have tried to create a number of predictive models using ANN. The chapter is focused on defining predictive analytics and the tools used in predictive analytics, with a special orientation on Artificial Neural Networks. The objective of the chapter is to establish ANN as an effective technique for making appropriate predictions and thereby contributing toward the decision-making in various spheres using the outcomes from various researches. The chapter also aims to explain the step-by-step process of ANN in outcome prediction with the help of example.

Keywords: Predictive analytics; Artificial Neural Network (ANN); Decision-making; Output prediction; Forecasting (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-19-9658-0_6

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DOI: 10.1007/978-981-19-9658-0_6

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