Amazon Forecast
Accurate time-series forecasting service, no machine learning experience required
Amazon Forecast uses Machine Learning to deliver highly accurate forecasts
Amazon Forecast is an accurate, fully managed, forecasting service based on the same technology used at Amazon.com, that utilizes machine learning with time series data to predict future trends across a variety of industries and use cases, ranging from financial planning to resource management and demand planning.
Forecasting using time-series data alone, unreliably assumes that the past is an accurate determinant of future trends.
Therefore, Amazon Forecast integrates a larger sum of variables along with time series data to build its forecasts, employing machine learning to identify complex relationships that aid in producing markedly more accurate results.
Benefits
Simplicity
Amazon Forecast requires no machine learning experience to be utilized towards building, training and deploying forecasting models and no server provisioning is required.
Accuracy
Forecasts provided by Amazon Forecast have up to 50% higher accuracy due to the use of machine learning. Models are custom built to your data, analyzing relationships between time series data and variables like product features to develop a more accurate picture of demand.
Speed
With Amazon Forecast, months of engineering forecasting models that have a high degree of accuracy, are replaced by just hours of effort. Complex machine learning algorithms required to build, train and deploy models are automatically handled, dramatically improving your forecasting speed.
Cost
No upfront commitments are needed to use Amazon Forecast and you pay only for the capacity you use.
Flexibility
Forecasts can be built for virtually any industry or business function, including retail, finance, advertising and more. A combination of machine learning and a library of built-in algorithms help Amazon Forecast automatically determine the best fit for your specific needs.
Security
Amazon Forecast is built with security in mind. All content processed is encrypted with customer keys through Amazon Key Management Service and is encrypted at rest in the AWS region where the service is being utilized.
