Sales Forecasting using Neural Networks for Microsoft Excel
Neural networks are being increasingly used for sales forecasting tasks. Accurate forecasts can reduce inventory costs, improve planning, save time and money, decrease stockouts and improve customer satisfaction. Traditional forecasting methods often make incorrect assumptions about the underlying data, and fail to see the interrelatedness of variables. NeuroXL Predictor, using advanced neural network techniques, provides more accurate forecasts than traditional methods, without sacrificing speed or ease of use.
Advanced Technology for Prediction
Producing accurate forecasts is a critical activity for any sales or marketing group. Errors in predictions can result in inefficiently allocated resources, missed targets, and a host of other problems. Microsoft Excel provides a built-in tool for predictions, but the accuracy of its results is significantly reduced when non-linear relationships or missing data are present, which is often the case when analyzing historical sales data. NeuroXL Predictor uses advanced neural network technology which does not suffer from the limitations of traditional methods. Loosely modeled after the human brain, neural networks are interconnected networks of independent processors that, by changing their connections (known as training), learn the solution to a problem. In the past, analysts have often been reluctant to adopt neural networks due to their complexity. NeuroXL Predictor removes this barrier - users do not require any prior knowledge of neural networks to make predictions, and since users use the familiar Excel interface, learning time is minimal, greatly reducing the interval between loading the software and performing useful predictions.
NeuroXL Predictor as a Tool for Business Analysts
Neural networks are increasingly replacing traditional methods for solving forecasting problems in business. Loosely modeled after the human brain, neural networks "learn" the solution to a problem and thus do not require complex rules to operate. Neural networks are composed of a large number of interconnected processing elements (neurons) that, working in parallel, provide extremely accurate forecasts. Many business analysts have been reluctant to adopt neural networks due to their complexity. NeuroXL Predictor, however, removes this barrier by hiding the complexity of the network and providing an easy-to-use interface. You simply supply the data, and the application implements a neural network that categorizes your data according to your preferences. As the data is supplied through Microsoft Excel, learning time is minimal, greatly reducing the time between installing the software and performing predictions.
New versions of NeuroXL Predictor, NeuroXL Clusterizer and NeuroXL Package released: 4.0.6more...
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I can definitely recommend NeuroXL software to any individual or business that would like to take advantage of the power of artificial neural networks in analyzing complex data.more...