An assessment of neural network algorithms that could aid SME survival

Artificial Neural Networks (ANNs) have been used in a wide variety ofapplication sectors from credit card fraud detection to transportation. Over the last twodecades many algorithms have been applied in the areas of classification, association,prediction and filtering of data. Such systems would allow managers of smallerbusinesses to determine the significance of large volumes of data quickly and just asimportantly data can be classified and ordered based on the importance of the data to apredefined task for smaller businesses. Mantagno et al (2002) proposed using neuralnetworks for identifying organisational improvement strategies. Even though Mantagno’sresearch focused on large organisations we believe it is imperative that smaller businessesadopt a similar approach as it could well be the deciding factor between business declineand business survival. Choy et al (2003) supports this approach in arguing that there hasto be a technological searching strategy to support businesses and effective management.Although it is now possible to find many neural network models being incorporated intobusiness applications it is still uncommon in the smaller business sector. This paper is areview of neural network algorithms applicable to SMEs.