AWS Machine Learning Blog

Category: Amazon Forecast

Amazon Forecast now supports accuracy measurements for individual items

We’re excited to announce that you can now measure the accuracy of forecasts for individual items in Amazon Forecast, allowing you to better understand your forecasting model’s performance for the items that most impact your business. Improving forecast accuracy for specific items—such as those with higher prices or higher costs—is often more important than optimizing […]

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Automating business processes with machine learning in the COVID-19 pandemic

COVID-19 has changed our world significantly. All of this change has been almost instantaneous, forcing companies to pivot quickly and find new ways to operate. Automation is playing an increasingly important role to help companies adjust. The ability to automate business processes with machine learning (ML) is unlocking new efficiencies and allowing companies to move […]

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Measuring forecast model accuracy to optimize your business objectives with Amazon Forecast

We’re excited to announce that you can now measure the accuracy of your forecasting model to optimize the trade-offs between under-forecasting and over-forecasting costs, giving you flexibility in experimentation. Costs associated with under-forecasting and over-forecasting differ. Generally, over-forecasting leads to high inventory carrying costs and waste, whereas under-forecasting leads to stock-outs, unmet demand, and missed […]

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Time series forecasting using unstructured data with Amazon Forecast and the Amazon SageMaker Neural Topic Model

As the volume of unstructured data such as text and voice continues to grow, businesses are increasingly looking for ways to incorporate this data into their time series predictive modeling workflows. One example use case is transcribing calls from call centers to forecast call handle times and improve call volume forecasting. In the retail or […]

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Amazon Forecast can now use Convolutional Neural Networks (CNNs) to train forecasting models up to 2X faster with up to 30% higher accuracy

We’re excited to announce that Amazon Forecast can now use Convolutional Neural Networks (CNNs) to train forecasting models up to 2X faster with up to 30% higher accuracy. CNN algorithms are a class of neural network-based machine learning (ML) algorithms that play a vital role in Amazon.com’s demand forecasting system and enable Amazon.com to predict […]

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Building AI-powered forecasting automation with Amazon Forecast by applying MLOps

This post demonstrates how to create a serverless Machine Learning Operations (MLOps) pipeline to develop and visualize a forecasting model built with Amazon Forecast. Because Machine Learning (ML) workloads need to scale, it’s important to break down the silos among different stakeholders to capture business value. The MLOps model makes sure that the data science, […]

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Managing missing values in your target and related datasets with automated imputation support in Amazon Forecast

Amazon Forecast is a fully managed service that uses machine learning (ML) to generate highly accurate forecasts without requiring any prior ML experience. Forecast is applicable in a wide variety of use cases, including estimating product demand, supply chain optimization, resource planning, energy demand forecasting, and computing cloud infrastructure usage. With Forecast, there are no […]

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Making accurate energy consumption predictions with Amazon Forecast

Amazon Forecast is a fully managed service that uses machine learning (ML) to generate highly accurate forecasts, without requiring any prior ML experience. Forecast is applicable in a wide variety of use cases, including energy demand forecasting, estimating product demand, workforce planning, and computing cloud infrastructure usage. With Forecast, there are no servers to provision […]

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Automating your Amazon Forecast workflow with Lambda, Step Functions, and CloudWatch Events rule

Amazon Forecast is a fully managed service that uses machine learning (ML) to generate highly accurate forecasts without requiring any prior ML experience. Forecast is applicable in a wide variety of use cases, including estimating product demand, energy demand, workforce planning, computing cloud infrastructure usage, traffic demand, supply chain optimization, and financial planning. Forecast is […]

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Amazon Forecast now supports the generation of forecasts at a quantile of your choice

We are happy to announce that Amazon Forecast can now generate forecasts at a quantile of your choice. Launched at re:Invent 2018, and generally available since Aug 2019, Forecast is a fully managed service that uses machine learning (ML) to generate highly accurate forecasts, without requiring any prior ML experience. Forecast is applicable in a […]

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