Benefits of Using Neural Networks in Price & Promotional Demand Forecaster™
Neural Networks provide an advanced solution for tackling complex forecasting challenges. What sets neural networks apart is their ability to generalize from the data they’re trained on. This means that even if specific price discounts or promotional factors were not directly included in the training data, the neural network can still make accurate predictions for those scenarios. By generalizing from training data, neural networks can predict demand even for price discounts or factors not explicitly represented in the data.
This white paper highlights the advantages of neural networks in handling non-linear relationships, using incomplete data, and running rapid, accurate demand forecasts in retail.