Predicting Consumer Behaviour Using Artificial Neural Network

Abstract

Artificial Neural Networks (ANNs), a computational model inspired by the architecture of the human brain, exhibit
certain features such as the ability to learn complex patterns of information and generalize the learned information. They are
used for a number of data analysis tasks such as prediction, classification and clustering. They can operate even with partial
and noisy information. In this paper, an application of ANN for predicting consumer behaviour has been discussed. It helps
marketers to understand how consumers behave from alternatives (like products, brands and the like) and how consumers
are influenced by their environment (reference groups, their family, salespersons and so on). Consumers’ buying behavior is
influenced by their cultural, social, personal and psychological factors. Most of them are uncontrollable and beyond the
hands of marketers, but they have to be considered while trying to understand the complex behaviour of consumers. This
paper is focused to understand the behaviour of consumers towards the purchase of two-wheelers by using an artificial
neural network.