The Function of Neural Networks in Strategic Management of Restaurant Business

Abstract:

The paper discusses features of the managerial decision-making process using neural networks in restaurant management systems. In the current context, the development of the food industry is of great importance for a growth in Russia’s national economy. A balanced AI ranking and forecasting model that is based on both financial and non-financial indicators is used to achieve high-level efficiency and accuracy in evaluating restaurant management systems. This approach is proved to expand capabilities of managers and owners in analyzing every factor of the external and internal restaurant business environment and help make better decisions for further business growth. Importantly, the implementation of neural networks into restaurant management systems is a highly topical issue of both theoretical and practical analysis in management sciences. It is also apparent that neural networks implemented in management systems may stimulate the development of the food industry in terms of modern management techniques

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