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Business Intelligence by Jerzy Surma

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4.5. Other Methods

The aforementioned techniques are only a selection of the most popular ones in business applications. There is a wide spectrum of other approaches that derive mainly from statistics. An extremely interesting group of techniques are those inspired by the computer simulation of natural phenomena. The human brain has been an inspiration for a long time, and within works on artificial intelligence, numerous computer simulations of neural networks26 have been carried out. Although this work has so far been unsuccessful in simulating human thinking, it has been tremendously effective in solving classification and prediction tasks. Another technique derived from man’s observations of nature is the genetic algorithm, which is based ...

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