AWS Machine Learning Blog

Category: Amazon Forecast

Accelerate the investment process with AWS Low Code-No Code services

The last few years have seen a tremendous paradigm shift in how institutional asset managers source and integrate multiple data sources into their investment process. With frequent shifts in risk correlations, unexpected sources of volatility, and increasing competition from passive strategies, asset managers are employing a broader set of third-party data sources to gain a […]

Start your successful journey with time series forecasting with Amazon Forecast

Organizations of all sizes are striving to grow their business, improve efficiency, and serve their customers better than ever before. Even though the future is uncertain, a data-driven, science-based approach can help anticipate what lies ahead to successfully navigate through a sea of choices. Every industry uses time series forecasting to address a variety of […]

Implementing Amazon Forecast in the retail industry: A journey from POC to production

Amazon Forecast is a fully managed service that uses statistical and machine learning (ML) algorithms to deliver highly accurate time-series forecasts. Recently, based on Amazon Forecast, we helped one of our retail customers achieve accurate demand forecasting, within 8 weeks. The solution improved the manual forecast by an average of 10% in regards to the […]

Generate cold start forecasts for products with no historical data using Amazon Forecast, now up to 45% more accurate

Now with Amazon Forecast, you can generate up to 45% more accurate forecasts for products with no historical data. Forecast is a managed service that uses machine learning (ML) to generate accurate demand forecasts, without requiring any ML experience. Accurate forecasting is the foundation for inventory optimization, logistics planning, and workforce management and it enables […]

Reduce food waste to improve sustainability and financial results in retail with Amazon Forecast

With environmental, social, and governance (ESG) initiatives becoming more important for companies, our customer, one of Greater China region’s top convenience store chains, has been seeking a solution to reduce food waste (currently over $3.5 million USD per year). Doing so will allow them to not only realize substantial operating savings, but also support corporate […]

Automate your time series forecasting in Snowflake using Amazon Forecast

This post is a joint collaboration with Andries Engelbrecht and James Sun of Snowflake, Inc. The cloud computing revolution has enabled businesses to capture and retain corporate and organizational data without capacity planning or data retention constraints. Now, with diverse and vast reserves of longitudinal data, companies are increasingly able to find novel and impactful […]

Large-scale revenue forecasting at Bosch with Amazon Forecast and Amazon SageMaker custom models

This post is co-written by Goktug Cinar, Michael Binder, and Adrian Horvath from Bosch Center for Artificial Intelligence (BCAI). Revenue forecasting is a challenging yet crucial task for strategic business decisions and fiscal planning in most organizations. Often, revenue forecasting is manually performed by financial analysts and is both time consuming and subjective. Such manual […]

Conduct what-if analyses with Amazon Forecast, up to 80% faster than before

Now with Amazon Forecast, you can seamlessly conduct what-if analyses up to 80% faster to analyze and quantify the potential impact of business levers on your demand forecasts. Forecast is a service that uses machine learning (ML) to generate accurate demand forecasts, without requiring any ML experience. Simulating scenarios through what-if analyses is a powerful […]

Choose specific timeseries to forecast with Amazon Forecast

Today, we’re excited to announce that Amazon Forecast offers the ability to generate forecasts on a selected subset of items. This helps you to leverage the full value of your data, and apply it selectively on your choice of items reducing the time and effort to get forecasted results. Generating a forecast on ‘all’ items of the […]

Weekly forecasts can now start on Sunday with Amazon Forecast

We are excited to announce that in Amazon Forecast, you can now start your forecast horizon at custom starting points, including on Sundays for weekly forecasts. This allows you to more closely align demand planning forecasts to local business practices and operational requirements. Forecast is a fully managed service that uses statistical and machine learning […]