Neural networks in business: techniques and applications for the operations researcher

Abstract

This paper presents an overview of the different types of neural network models which are applicable when solving business problems. The history of neural networks in business is outlined, leading to a discussion of the current applications in business including data mining, as well as the current research directions. The role of neural networks as a modern operations research tool is discussed. Scope and purpose Neural networks are becoming increasingly popular in business. Many organisations are investing in neural network and data mining solutions to problems which have traditionally fallen under the responsibility of operations research. This article provides an overview for the operations research reader of the basic neural network techniques, as well as their historical and current use in business. The paper is intended as an introductory article for the remainder of this special issue on neural networks in business.