Neural network forecasting for airlines: A comparative analysis

Neural network forecasting for airlines: A comparative analysis

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Article ID: iaor200917418
Country: United Kingdom
Volume: 1
Issue: 4
Start Page Number: 319
End Page Number: 331
Publication Date: Jan 2003
Journal: Journal of Revenue and Pricing Management
Authors: , ,
Keywords: yield management, neural networks, forecasting: applications
Abstract:

This paper provides the first published research paper on the technique of neural network forecasting as applied to the airline industry. It compares this new method with the traditional forecasting techniques (moving averages, exponential smoothing, regression, etc.). The data were provided by a major international carrier. All the methods were compared on the basis of a standard error measure — mean absolute percentage error (MAPE). The results of the study are promising. The most basic neural network structures provided better forecasts than traditional forecasting methods.

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