Amazon Forecast Documentation
Include local weather information
With Weather Index, Amazon Forecast can increase your forecasting accuracy by ingesting local weather information in your demand forecasts. Weather conditions influence consumer demand patterns, product merchandizing decisions, staffing requirements, and energy consumption needs. When you use the Weather Index, Forecast trains a model with historical weather information for the locations of your operations and uses the latest weather forecasts on items that are influenced by day-to-day variations to create demand forecasts.
Works with historical time series data to help create accurate forecasts
Amazon Forecast can use historical time series data (e.g., price, promotions, economic performance metrics) to help create accurate forecasts for your business.
Automated machine learning
Amazon Forecast includes AutoML capabilities that help to take care of the machine learning for you. Once you provide your data into Amazon S3, you can use Amazon Forecast to load and inspect the data, select the right algorithms, train a model, provide accuracy metrics, and generate forecasts.
Evaluate the accuracy of your forecasting models
Amazon Forecast provides accuracy metrics to help you understand the performance of your forecasting model and compare it to previous forecasting models you’ve created that may have looked at a different set of variables or used a different period of time for the historical data. Amazon Forecast allows you to create multiple backtest windows and visualize the metrics, helping you evaluate model accuracy over different start dates.
Amazon Forecast’s accuracy metrics are visualized in graphs and tables in the service console. Once forecasts are generated, you can navigate to the relevant forecast by picking it from a list of available forecasts.
Integrate with your existing tools
Amazon Forecast can be imported into common business and supply chain applications, allowing you to integrate forecasting into your existing business processes.
Generate probabilistic forecasts
Amazon Forecast generates probabilistic forecasts at varying quantities. In addition, you can choose quantiles, including the 'mean' forecast.
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