• ISSN: 2010-023X
    • Frequency: Bimonthly
    • DOI: 10.18178/IJTEF
    • Editor-in-Chief: Prof.Tung-Zong (Donald) Chang
    • Executive Editor: Ms. Cherry L. Chen
    • Abstracting/ Indexing: Engineering & Technology Digital Library, ProQuest, Crossref, Electronic Journals Library, DOAJ , EBSCO, and Ulrich's Periodicals Directory
    • E-mail: ijtef@ejournal.net
IJTEF 2014 Vol.5(5): 435-440 ISSN: 2010-023X
DOI: 10.7763/IJTEF.2014.V5.411

Predicting Sales Revenue by Using Artificial Neural Network in Grocery Retailing Industry: A Case Study in Turkey

Dilek Penpece and Orhan Emre Elma
Abstract—Forecasting sales quantity and sales revenue is very vital for a company to take action for the next period for sustainable competition. It is especially important for growing industries like grocery retailing industry. Turkey’s grocery retailing industry is evolving rapidly. Due to increasing importance; the aim of this study is to forecast the sales revenue of grocery retailing industry in Turkey with the help of grocery retailers marketing costs, gross profit, and its competitors’ gross profit by using artificial neural network. Artificial neural networks are models which are used for forecasting because of their capabilities of pattern recognition and machine learning. ANN method is used to forecast the sales revenue of upcoming period. According to results there are high similarities between forecasted and actual data. Forecasted results of this study are bigger or smaller than the actual data for only 10%. Because of this high accuracy, companies at grocery retailing industry in Turkey can use ANN as a forecasting tool.

Index Terms—Sales revenue, forecasting sales revenue, grocery retailing industry, artificial neural network.

The authors are with Adana Science and Technology University, Adana, Turkey (e-mail: dpenpece@adanabtu.edu.tr, oeelma@adanabtu.edu.tr).

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Cite: Dilek Penpece and Orhan Emre Elma, "Predicting Sales Revenue by Using Artificial Neural Network in Grocery Retailing Industry: A Case Study in Turkey," International Journal of Trade, Economics and Finance vol.5, no.5, pp. 435-440, 2014.

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