The Applications and Utilizations of Artificial Neural Networks Systems Is Explained Here
Evolution of human brain has resulted in the evolution of subjects; with Artificial Neural Networks assignment help from 24x7assignmenthelp.com; you can understand the applications of neural networks in Management systems.
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What is an Artificial Neural Network?
The characteristics of Neural Networks:
Neural Networks are used to:
The elements are:
Neural Networks can be applied in various fields of management. Such as:
Field Of Marketing:
Marketing decision problems which were previously solved by multivariate statistical analytics can be solved by Neural Networks nowadays. It can analyse the market statistics depending on the consumer habits of;
Field Of Finance:
It is generally used in modelling and forecasting problems due to its prediction methods. It is applied o approximate any nonlinear function. For its complex dynamic relations, it is highly used in financial fields to predict the changes in the values of fixed assets or stocks, currencies, etc.
Field Of Manufacturing and Production:
Neural Networks forecasts the problems like; production costs, delivery dates, quality control and optimisation. With an intensive application, it is highly used in managing the products and services of the business.
Field of Strategic Management and Business Policy:
It is an efficient tool to determine and clarify the relationship between the two areas; impact of strategic planning and role of strategic planning. It helps in simulating the effects of decision making.
The advantages are:
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