CHAPTER 7

Artificial Neural Networks

Artificial neural networks (ANNs) are inspired by the information ­processing model of the mind/brain. The human brain consists of billions of neurons that link with one another in an intricate pattern. Every neuron receives information from many other neurons, processes it, gets excited or not, and passes its state information to other neurons.

Just like the brain is a multipurpose system, so also the ANNs are very versatile systems. They can be used for many kinds of pattern recognition and prediction. They are also used for classification, regression, clustering, association, and optimization activities. They are used in finance, marketing, manufacturing, operations, information systems applications, and ...

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