Optimisation to ANN Inputs in Automated Property Valuation Model with Encog 3 and winGamma
An automated property model for prediction of the sales price of residential properties with optimized inputs was developed. Optimised inputs improve efficiency and speed of an Artificial Neural Network (ANN). Property appraisal ANNs have a great potential not only to save time and money but also help local government authorities to determine the tax revenue. While the criteria for the ANN’s number of hidden layer neurons are well known, there is no theory to support the optimisation to ANN inputs. The proposed optimisation to ANN inputs procedure aims to resolve some of the issues in using ANNs especially in the case of automated property valuation modelling (AVM). A brief review of ANNs and their applications is given, followed by the discussion of the ANN design methodology and optimisation. Details of ANN optimisation using Java based Encog 3 and winGamma are presented in this paper. It is shown that optimisation to ANN inputs can improve the accuracy in residential property evaluation using winGamma and Encog 3.