AWS Machine Learning Blog

Category: Amazon Forecast

How Foxconn built an end-to-end forecasting solution in two months with Amazon Forecast

This is a guest post by Foxconn. The content and opinions in this post are those of the third-party author and AWS is not responsible for the content or accuracy of this post.  In their own words, “Established in Taiwan in 1974, Hon Hai Technology Group (Foxconn) is the world’s largest electronics manufacturer. Foxconn is […]

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Most items in the model with the Weather Index have errors below 0.05.

Amazon Forecast Weather Index – automatically include local weather to increase your forecasting model accuracy

We’re excited to announce the Amazon Forecast Weather Index, which can increase your forecasting accuracy by automatically including local weather information in your demand forecasts with one click and at no extra cost. Weather conditions influence consumer demand patterns, product merchandizing decisions, staffing requirements, and energy consumption needs. However, acquiring, cleaning, and effectively using live […]

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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

September 2021: This blog has been updated to include three recently launched accuracy metrics in Amazon Forecast and the ability to select an accuracy metric to optimize AutoML. 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 […]

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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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