I wish to use Artificial neural network pattern recognition tool to predict traffic flow of the urban area with the use of previous traffic count data.
I want to know whether it is a good technique to predict traffic condition.
Probably should be posted on CrossValidated.
The exact effectiveness is based on what features you are looking at in predicting traffic conditions. The question "whether it's a good technique" is too vague. Neural networks might work pretty well under certain circumstances, while it might also work really badly on other situations. Without a specific context it's hard to tell.
Typically neural networks work pretty well on predicting patterns. If you can form your problem into specific pattern recognition tasks then it's possible that neural networks will work pretty well.
-- Update --
Based on the following comment
What I need to predict is vehicle count of a given road, according to the given time and given day with the use of previous data set. As a example when I enter the road name that I need to travel, the time that I wish to travel and the day, I need to get the vehicle count of that road at that time and day.
I would say be very cautious with using neural networks, because depending on your data source, your data may get really sparse. Lets say you have 10000 roads, then for a month period, you are dividing your data set by 30 days, then 24 hours, then 10000 roads.
If you want your neural network to work you need to at least have enough data for each partition of your data set. If you divide your data set in the way described above, you have 7200000 partitions already. Just think about how much data you need in total. The result of having a small dataset means most of your 7 million partitions will have no data available in it, which then implies that your neural network prediction will not work most of the time, since you don't have data to start with.
This is part of the reason why big companies are sort of crazy about big data, because you just never get enough of it.
But anyway, do ask on CrossValidated since people there are more statistician-y and can provide better explanations.
And please note, there might be other ways to split your data (or not splitting at all) to make it work. The above is just an example of pitfalls you might encounter.