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Artificial Neural Networks and Their Applications in Business

Artificial Neural Networks and Their Applications in Business
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Author(s): Trevor J. Bihl (Air Force Institute of Technology, USA), William A. Young II (Ohio University, USA) and Gary R. Weckman (Ohio University, USA)
Copyright: 2018
Pages: 16
Source title: Encyclopedia of Information Science and Technology, Fourth Edition
Source Author(s)/Editor(s): Mehdi Khosrow-Pour, D.B.A. (Information Resources Management Association, USA)
DOI: 10.4018/978-1-5225-2255-3.ch576

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Abstract

Despite the natural advantage humans have for recognizing and interpreting patterns, large and complex datasets, as in Big Data, preclude efficient human analysis. Artificial neural networks (ANNs) provide a family of pattern recognition approaches for prediction, clustering and classification applicable to KDD with ANN model complexity ranging from simple (for small problems) highly complex (for large issues). To provide a starting point for readers, this chapter first describes foundational concepts that relate to ANNs. A listing of commonly used ANN methods, heuristics, and criteria for initializing ANNs is then discussed. Common pre- and post- data processing methods for dimensionality reduction and data quality issues are then described. The authors then provide a tutorial example of ANN analysis. Finally, the authors list and describe applications of ANNs to specific business related endeavors for further reading.

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