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

Author

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  • Derek W. Bunn

    (London Business School, UK)

  • Stefania Pantelidaki

    (London Business School, UK)

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.

Suggested Citation

  • Derek W. Bunn & Stefania Pantelidaki, 2005. "Development of a multifunctional sales response model with the diagnostic aid of artificial neural networks," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 24(7), pages 505-521.
    • Handle: RePEc:jof:jforec:v:24:y:2005:i:7:p:505-521
    DOI: 10.1002/for.945
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    References listed on IDEAS

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    Cited by:

    1. Hong Chen, 2010. "Using Financial and Macroeconomic Indicators to Forecast Sales of Large Development and Construction Firms," The Journal of Real Estate Finance and Economics, Springer, vol. 40(3), pages 310-331, April.

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