Managerial Forecasting System Based on RBF Neural Network for Financial Data
Dušan Marček · Proceedings of the 2013 International Conference on Information, Business and Education Technology (ICIBET 2013) · 2013
Forecasting systems are applied which are based on the latest statistical theory and artificial neural networks.The impact of these methods to risk reduction is judged in managerial decision-making.The fundamental question arises whether non-linear methods like neural networks can help modeling any non-linearities being inherent within the estimated statistical model.The proposed novel modeling approach is applied to high frequency time series of EUR/USD exchange rates (EUR currency against the US dollar.Our results show that the proposed neural approach achieves better forecast accuracy on the validation dataset than most available statistical techniques.