Posted On: Aug 22, 2019
We are excited to announce the general availability of Amazon Forecast, which has been in preview since re:Invent 2018. Amazon Forecast is a fully managed service that uses machine learning to deliver highly accurate forecasts. Based on the same technology used at Amazon.com, Amazon Forecast uses machine learning to combine time series data with additional variables to build forecasts.
Amazon Forecast requires no machine learning experience to get started. You only need to provide historical data, plus any additional data that you believe may impact your forecasts. For example, the demand for a particular color of a shirt may change with the seasons and store location. This complex relationship is hard to determine on its own, but machine learning is ideally suited to recognize it. Once you provide your data, Amazon Forecast will automatically examine it, identify what is meaningful, and produce a forecasting model capable of making predictions that are up to 50% more accurate than looking at time series data alone. To learn more about Amazon Forecast, visit the product page.