Category: Amazon Forecast

AWS Cost Explorer enables you to view and analyze your AWS Cost and Usage Reports (AWS CUR). You can also predict your overall cost associated with AWS services in the future by creating a forecast of AWS Cost Explorer, but you can’t view historical data beyond 12 months. Moreover, running custom machine learning (ML) models […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

May 2023: Please refer to Automate the deployment of an Amazon Forecast time-series forecasting model blog post for latest practices on forecasting automation. 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, […]

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 […]