Approach of Artificial Neural Networks in Comparison with ARIMA Case study: Cement Price Forecasting in IRAN

Close relation between cement consumption and development process reveals the essential role of this product in the economy of each country. Hence, it is important to have a precise forecast for cement price. In this regard, the forecast has done using both ARIMA Process and Artificial Neural Network in the content of expost and exant prediction. Utilizing Performance Comparison indexes to each approach determines that, on the average, error prediction in ANN approach is less than ARIMA Process. As a result, it can be said that ANN approach could be more efficient.