Predicting numbers of successful new products to launch using soft computing techniques : a case of firms from manufacturing sector industries

Bhatnagar, V; Majhi, R; Sahadev, S

Abstract

Predicting numbers of new products to be launched by the firms in a particular time period is considered as the most mystified and strategically important decision. Importance of this aspect could be realized by looking at the low success rate of new products in the market. Identifying numbers of new products potentially accepted by the market may reduce the investment and scant resources consumption by firms. In this study, statistical multiple linear regression, and artificial neural network techniques modeled as simple and cascaded networks combined with nature inspired algorithm have been implemented. Artificial neural network has shown significant performance results and further cascading helps in enhancing the prediction accuracy along with better convergence capability of the developed models for the predicament.

Citation

Bhatnagar, V., Majhi, R., & Sahadev, S. (2020). Predicting numbers of successful new products to launch using soft computing techniques : a case of firms from manufacturing sector industries. Journal of King Saud University (Computer and Information Sciences), 32(2), 254-265. https://doi.org/10.1016/j.jksuci.2017.08.006

• Journal Article Type: Article
• Acceptance Date: Aug 29, 2017
• Online Publication Date: Sep 2, 2017
• Publication Date: Feb 1, 2020
• Deposit Date: Oct 25, 2017
• Publicly Available Date: Oct 25, 2017
• Journal: Journal of King Saud University - Computer and Information Sciences
• Print ISSN: 1319-1578
• Publisher: Elsevier
• Volume: 32
• Issue: 2
• Pages: 254-265
• DOI: https://doi.org/10.1016/j.jksuci.2017.08.006
• Publisher URL: http://dx.doi.org/10.1016/j.jksuci.2017.08.006
• Related Public URLs: https://www.journals.elsevier.com/journal-of-king-saud-university-computer-and-information-sciences