Seattle, Aug. 22, 2019: Amazon Web Services, Inc. (AWS), has announced the general availability of Amazon Forecast, a fully managed service that uses machine learning to deliver highly accurate forecasts.
Incidentally, Forecast is based on the same technology that powers Amazon.com.
Forecasting is a science of predicting the future.
The famous e-tailer uses forecasting to make sure that the right product is in the right place at the right time by predicting demand for hundreds of millions of products every day.
According to a press release by AWS, Forecast uses this same technology to build precise forecasts for virtually any business condition, including product demand and sales, infrastructure requirements, energy needs, and staffing levels. The predictions it makes using this tech are up to 50% more accurate than traditional methods.
What’s more, said the company, Amazon Forecast “is easy to use and requires no machine learning experience.”
The service automatically provisions the necessary infrastructure, processes data, and builds custom, private machine learning models that are hosted on AWS and ready to make predictions. To get started with Forecast, visit https://aws.amazon.com/forecast/.
Image Credit: AWS