From the point of view of statistics or econometrics,
NN models are a particular class of nonlinear
input–output models. NNs have been established to
be superior to the conventional models of linear kind
(including regression, univariate time series models,
and multivariate time series transfer function models)
and some other non-linear kind. Application of NN
does not require the data to meet the assumptions that
must otherwise be met in a regression model.