Amazon Forecast - Time Series Forecasting Service by AWS

Amazon Forecast Features

Amazon Forecast is a fully managed time-series forecasting service that uses the same machine learning technology used at Amazon.com. It's designed for business metrics analysis.

Features

• Forecasting millions of items: This service allows you to scale operations by forecasting millions of items, using the same technology as Amazon.com.
• Optimize inventory: Reduce waste and improve capital utilization with accurate forecasts at a granular level.
• Long-term decisions: Make long-term decisions with more confidence.
• Increase customer satisfaction: Ensure optimal staffing to meet varying demand levels.

Use Cases

• Retail and inventory forecasting: Reduce waste, increase inventory turns, and improve in-stock availability by forecasting product demand at specific probability levels.
• Workforce planning: Forecast workforce staffing at 15-minute increments to optimize for high and low demand periods.
• Travel demand forecasting: Forecast foot traffic, visitor counts, and channel demand to more efficiently manage operating costs.