Q: What is Amazon Forecast?
A: 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. Refer to the Getting Started topic in the the Amazon Forecast Developer Guide for more information.
Q: What kinds of businesses will benefit from the Improving Forecast Accuracy with Machine Learning solution?
A: This solution can help a wide range of organizations greatly improve their forecast accuracy and better manage their retail inventory demand, supply-chain planning, workforce capacity, or web traffic load. It accelerates organizations that currently rely on manually re-running software for making predictions. This solution helps developers and data scientists bring models to production by generating, testing, comparing, and iterating on highly tunable and easy to manage Amazon Forecast forecasts.
Q: When should businesses use the Improving Forecast Accuracy with Machine Learning solution?
A: The solution can be used when testing and benchmarking predictor models. During development, businesses can develop forecasts and tune them for production-readiness. The ability to easily configure different forecast runs using different types of data facilitates experimentation throughout the development process.
Q: How much does this solution cost?
A: As of January 2022, the cost for running this solution with the default settings in the US East (N. Virginia) Region is approximately $14.50 per 100 forecasts generated for one item, or approximately $76.62 per month, when deployed with a ml.t2.medium Amazon SageMaker notebook instance.
For more details on the cost of this solution, refer to the implementation guide.
Q: Can this solution be deployed in any AWS Region?
A: No. This solution uses the Amazon Forecast service, and when specified, Amazon SageMaker, which are not currently available in all AWS Regions. You must launch this solution in an AWS Region where Amazon Forecast is available. For the most current availability by Region, refer to the AWS Regional Services List.
Training and Certification
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ML Building Blocks: Services and Terminology
This courses clarifies both the machine learning stack and the terms and processes that will help you build a good foundation in machine learning.
After taking this set of courses, you’ll understand how Artificial Intelligence (AI) led to Machine Learning (ML), which then led to Deep Learning (DL).
AWS Certified Solutions Architect – Associate
This exam validates your ability to effectively demonstrate knowledge of how to architect and deploy secure and robust applications on AWS technologies.
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