Introducing Amazon Forecast – Now in Preview
Amazon Forecast, a fully managed service that uses machine learning to highly accurate forecasts, is now available in preview.
Just like personalization, forecasting has traditionally been a bit of a dark art, where customers try to predict future trends in supply chain, inventory levels, and product demand, based on historical data. And just like Amazon Personalize, Amazon Forecast is based on technology that has been developed by Amazon.com and used for a lot of critical forecasting. Forecasting is hard to do well because there are often so many inter-related factors (such as pricing, events, and even the weather). Missing the mark with a forecast can have a significant impact, such as being unable to meet customer demand or significantly over-spending. Amazon Forecast creates accurate time-series forecasts. Using historical data and related causal data, Amazon Forecast will automatically train, tune, and deploy custom, private machine learning forecasting models, so that customers can be more confident that they’ll provide the right customer experience while optimizing their spend.
To get started with Amazon Forecast, sign up for preview access on the product page.