Applications of Neural Networks

Where Neural Networks can be applied?

Since neural networks are best at identifying patterns or trends in data, they are well suited for prediction or forecasting needs including:

1.  Sales Forecasting
2.  Industrial Process Control
3.  Customer Research
4.  Data Validation
5.  Risk Management
6.  Target Marketing

Artificial Neural Networks (ANNs) are also used in the following specific paradigms: 

1. Recognition of Speakers in Communications
2. Diagnosis of Hepatitis
3. Recovery of Telecommunications from Faulty Software
4. Interpretation of Multi-meaning Chinese Words
5. Undersea Mine Detection
6. Texture Analysis
7. 3D Object Recognition
8. Hand-written Word Recognition
9. Facial Recognition.

Neural Network in Business

There is a marketing application which has been integrated with a neural network system. The Airline Marketing Tactician (a trademark abbreviated as AMT) is a computer system made of various intelligent technologies including expert systems. A feedforward neural network is integrated with the AMT and was trained using back-propagation to assist the marketing control of airline seat allocations. The adaptive neural approach was amenable to rule expression. Additionaly, the application's environment changed rapidly and constantly, which required a continuously adaptive solution. The system is used to monitor and recommend booking advice for each departure. Such information has a direct impact on the profitability of an airline and can provide a technological advantage for users of the system.

While it is significant that neural networks have been applied to this problem, it is also important to see that this intelligent technology can be integrated with expert systems and other approaches to make a functional system. Neural networks were used to discover the influence of undefined interactions by the various variables. While these interactions were not defined, they were used by the neural system to develop useful conclusions. It is also noteworthy to see that neural networks can influence the bottom line.

Related Reading: What is Neural Network?
Related Reading: What is Artificial Intelligence?