Forecasting Time Series Data Using Artificial Neural Network

This chapter aimed to survey some significant contributions in the field of artificial neural networks to solve the prediction problems related to finance and economics, environment, hydrology and agriculture preferably. A detailed methodology of artificial neural networks with historical background has been discussed here. The results of the survey reveal that artificial neural networks give more accurate forecasts than traditional and baseline regression, ARMA and ARIMA models, etc. The major contribution of this chapter is to provide the basic terminology of ANN architecture and methodology useful for different forecasting problems, and survey the available sources of different type of data to define a new problem in this field for future research.