Applications of Evolutionary Neural Networks for Sales Forecasting of Fashionable Products

Abstract

The evolutionary neural network (ENN), which is the hybrid combination of evolutionary computation and neural network, is a suitable candidate for topology design, and is widely adopted. An ENN approach with a direct binary representation to every single neural network connection is proposed in this chapter for sales forecasting of fashionable products. In this chapter, the authors will first explore the details on how an evolutionary computation approach can be applied in searching for a desirable network structure for establishing the appropriate sales forecasting system. The optimized ENN structure for sales forecasting is then developed. With the use of real sales data, the authors compare the performances of the proposed ENN forecasting scheme with several traditional methods which include artificial neural network (ANN) and SARIMA. The authors obtain the conditions in which their proposed ENN outperforms other methods. Insights regarding the applications of ENN for forecasting sales of fashionable products are generated. Finally, future research directions are outlined.