Estimation of Products Final Price Using Bayesian Analysis Generalized Poisson Model and Artificial Neural Networks

Estimating the final price of products is of great importance. For manufacturing companies proposing a final price is only possible after the design process over. These companies propose an approximate initial price of the required products to the customers for which some of time and money is required. Here using the existing data of already designed transformers and utilizing the bayesian analysis of generalize poisson models and artificial neural networks, a shortcut method for estimating the material and final price of transformers is established. The proposed method being quite precise and fast, without any cost.