Sales forecasting using extreme learning machine with applications in fashion retailing

Authors:
Zhan-Li Sun;Tsan-Ming Choi;Kin-Fan Au;Yong Yu
Affiliations:
Institute of Textiles and Clothing, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong;Institute of Textiles and Clothing, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong;Institute of Textiles and Clothing, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong;Institute of Textiles and Clothing, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong
Venue:
Decision Support Systems
Year:
2008

Citing 21
Cited 29

Neural computing: theory and practice

Neural computing: theory and practice
Generalization by weight-elimination with application to forecasting

NIPS-3 Proceedings of the 1990 conference on Advances in neural information processing systems 3
Original Contribution: Forecasting the behavior of multivariate time series using neural networks

Neural Networks
Neural networks and the bias/variance dilemma

Neural Computation
On Combining Classifiers

IEEE Transactions on Pattern Analysis and Machine Intelligence
A decision support system for sales forecasting through fuzzy neural networks with asymmetric fuzzy weights

Decision Support Systems
Fuzzy neural networks with application to sales forecasting

Fuzzy Sets and Systems
Artificial Neural Networks: Approximation and Learning Theory

Artificial Neural Networks: Approximation and Learning Theory
Forecasting the NYSE composite index with technical analysis, pattern recognizer, neural networks, and genetic algorithm: a case study in romantic decision support

Decision Support Systems
Neural network techniques for financial performance prediction: integrating fundamental and technical analysis

Decision Support Systems - Special issue: Data mining for financial decision making
Agent-based demand forecast in multi-echelon supply chain

Decision Support Systems
A hybrid sales forecasting system based on clustering and decision trees

Decision Support Systems
Bankruptcy forecasting: An empirical comparison of AdaBoost and neural networks

Decision Support Systems
Fuzzy Delphi and back-propagation model for sales forecasting in PCB industry

Expert Systems with Applications: An International Journal
Letters: Optimal selection of time lags for TDSEP based on genetic algorithm

Neurocomputing
Rapid and brief communication: Evolutionary extreme learning machine

Pattern Recognition
A Neuro-Fuzzy Inference System Through Integration of Fuzzy Logic and Extreme Learning Machines

IEEE Transactions on Systems, Man, and Cybernetics, Part B: Cybernetics
Capabilities of a four-layered feedforward neural network: four layers versus three

IEEE Transactions on Neural Networks
Upper bounds on the number of hidden neurons in feedforward networks with arbitrary bounded nonlinear activation functions

IEEE Transactions on Neural Networks
Learning capability and storage capacity of two-hidden-layer feedforward networks

IEEE Transactions on Neural Networks
Universal approximation using incremental constructive feedforward networks with random hidden nodes

IEEE Transactions on Neural Networks

Financial time series forecasting using independent component analysis and support vector regression

Decision Support Systems
Letters: Ensemble of online sequential extreme learning machine

Neurocomputing
Applying text and data mining techniques to forecasting the trend of petitions filed to e-People

Expert Systems with Applications: An International Journal
Sales forecasting system based on Gray extreme learning machine with Taguchi method in retail industry

Expert Systems with Applications: An International Journal
A two-stage dynamic sales forecasting model for the fashion retail

Expert Systems with Applications: An International Journal
Intelligent fabric hand prediction system with fuzzy neural network

IEEE Transactions on Systems, Man, and Cybernetics, Part C: Applications and Reviews
An intelligent fast sales forecasting model for fashion products

Expert Systems with Applications: An International Journal
Letters: Regularized extreme learning machine for regression problems

Neurocomputing
Fashion retailing forecasting based on extreme learning machine with adaptive metrics of inputs

Knowledge-Based Systems
Sales forecasting for computer wholesalers: A comparison of multivariate adaptive regression splines and artificial neural networks

Decision Support Systems
Robust extreme learning machine

Neurocomputing
Improved estimation of electricity demand function by using of artificial neural network, principal component analysis and data envelopment analysis

Computers and Industrial Engineering
Displacement prediction model of landslide based on ensemble of extreme learning machine

ICONIP'12 Proceedings of the 19th international conference on Neural Information Processing - Volume Part IV
A multivariate intelligent decision-making model for retail sales forecasting

Decision Support Systems
A study on the randomness reduction effect of extreme learning machine with ridge regression

ISNN'13 Proceedings of the 10th international conference on Advances in Neural Networks - Volume Part I
Decision support and intelligent systems in the textile and apparel supply chain: An academic review of research articles

Expert Systems with Applications: An International Journal
Looking for representative fit models for apparel sizing

Decision Support Systems
Long-term time series prediction using OP-ELM

Neural Networks
Sales forecasting of computer products based on variable selection scheme and support vector regression

Neurocomputing
Review and performance comparison of SVM- and ELM-based classifiers

Neurocomputing
Parallelized extreme learning machine ensemble based on min-max modular network

Neurocomputing
Meta-ELM: ELM with ELM hidden nodes

Neurocomputing
Hierarchical extreme learning machine for feedforward neural network

Neurocomputing
Application of BW-ELM model on traffic sign recognition

Neurocomputing
Time-series processing of large scale remote sensing data with extreme learning machine

Neurocomputing
Neural modeling of vapor compression refrigeration cycle with extreme learning machine

Neurocomputing
Comparing the learning effectiveness of BP, ELM, I-ELM, and SVM for corporate credit ratings

Neurocomputing
Extreme Learning Machines for Feature Selection and Classification of Cocaine Dependent Patients on Structural MRI Data

Neural Processing Letters
Fast fashion sales forecasting with limited data and time

Decision Support Systems

Quantified Score

Hi-index	0.01

Visualization

Abstract

Sales forecasting is a challenging problem owing to the volatility of demand which depends on many factors. This is especially prominent in fashion retailing where a versatile sales forecasting system is crucial. This study applies a novel neural network technique called extreme learning machine (ELM) to investigate the relationship between sales amount and some significant factors which affect demand (such as design factors). Performances of our models are evaluated by using real data from a fashion retailer in Hong Kong. The experimental results demonstrate that our proposed methods outperform several sales forecasting methods which are based on backpropagation neural networks.