By a News Reporter-Staff News Editor at Pharma Business Week -- Investigators publish new report on Data Mining. According to news reporting from Sanandaj, Iran, by NewsRx journalists, research stated, "One of the problems of pharmaceutical distribution companies (PDCs) is how to control inventory levels in order to prevent costs of excessive inventory and to prevent losing customers due to drug shortage. Consequently, the purpose of this study is to propose a novel method to forecast sales of PDCs."
The news correspondents obtained a quote from the research from the University of Kurdistan, "The presented method is a combination of network analysis tools and time series forecasting methods. Due to lack of enough past sales records of each drug, an explorative network based analysis is conducted to find clique sets and group members and to use comembers' sales data in their sales prediction. Afterwards, time series sales forecasting models were built with three different approaches including ARIMA methodology, neural network, and an advanced hybrid neural network approach. The offered hybrid method by applying each drug and its comembers past records facilitates capturing both linear and nonlinear patterns of sales accurately. The performance of the proposed method was evaluated by a real dataset provided by one of the leading PDCs in Iran."
According to the news reporters, the research concluded: "The results indicated that the proposed method is able to cope with low number of past records while it forecasts medicines sales accurately."
For more information on this research see: Intelligent Sales Prediction for Pharmaceutical Distribution Companies: A Data Mining Based Approach. Mathematical Problems in Engineering, 2014;():1-15. Mathematical Problems in Engineering can be contacted at: Hindawi Publishing Corporation, 410 Park Avenue, 15TH Floor, #287 Pmb, New York, NY 10022, USA. (Hindawi Publishing - www.hindawi.com; Mathematical Problems in Engineering - www.hindawi.com/journals/mpe/)
Our news journalists report that additional information may be obtained by contacting N.K. Zadeh, Univ Kurdistan, Dept. of Ind Engn, Sanandaj 6617715177, Iran. Additional authors for this research include M.M. Sepehri and H. Farvaresh (see also Data Mining).
Keywords for this news article include: Iran, Asia, Sanandaj, Neural Networks, Information Technology, Information and Data Mining
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