Amazon Forecast Works For Us!
Amazon Forecast has truly helped our company; there is so much info to analyze and using this product helps put it in one concise place. …
Overview
What is Amazon Forecast?
Amazon Forecast is a fully managed service that uses machine learning to deliver accurate forecasts. Amazon Forecast can use historical time series data (e.g., price, promotions, economic performance metrics) to create accurate forecasts for businesses.
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What is Amazon Forecast?
Amazon Forecast is a fully managed service that uses machine learning to deliver accurate forecasts. Amazon Forecast can use historical time series data (e.g., price, promotions, economic performance metrics) to create accurate forecasts for businesses.
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
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Product Demos
Amazon Forecast demo by Team Neoterics
YouTube
Amazon Forecast – Forecasting - From Months to Days (Hebrew)
YouTube
Product Details
- About
- Tech Details
What is Amazon Forecast?
Amazon Forecast Technical Details
| Operating Systems | Unspecified |
|---|---|
| Mobile Application | No |
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Reviews and Ratings
(8)Reviews
(1-5 of 5)Companies can't remove reviews or game the system. Here's why
March 30, 2023
Amazon Forecast Works For Us!
Amazon Forecast has truly helped our company; there is so much info to analyze and using this product helps put it in one concise place. Easy to use and reliable. Nothing beats it.
- Identifies key trends
- Keeps track of historical data like sales, cashflow, inventory, etc.
- Personalized forecasting model
- Sometimes the program is glitchy and we'll need to log out and log in again
- Reliable
- Easy to use interface which is helpful for all departments to use
- Forecasts can be turned into custom applications
- This has increased our ROI by giving us accurate data to improve our business model with
May 17, 2022
For Accurate forecasts of your business
Amazon Forecast works very accurately when it comes to AI based analysis of previous data to predict the future possibilities. It is fast and can save tons of data and predict future trends based upon them.
- Predictive Analysis of data for future use.
- Single place to save and access a whole lot of data
- Very fast and surprisingly accurate
- Not easy for beginners as it requires insights to set the forecast
- Much more expensive if considered for small businesses
- Easy to access tons of data at one place
- Future estimation is surprisingly accurate.
- Insights have been available much more quickly and well designed manner
- Integration with other tools has been flawless
April 29, 2022
Amazon Forecast review.
Amazon Forecast is a fully managed service that uses machine learning to deliver highly accurate forecasts. It helps to understand combined time-series data.
- Develop benchmarks for use in future forecast.
- Performs contingency planning during challenging financial times.
- Anticipate the impact of new expanse.
- It doesn't give 100% accurate result always.
- It provides amazing prediction based on user provided parameters and variables.
- Data is important for business, the tool helps to forecast the future of the business based on previous data.
Cost-effective and user-friendly.
Amazon Forecast is being deployed into the system for us to predict incoming expenses that can be incurred by the usage of the services within the AWS. Helps in resources and operational planning that are very helpful for the determination of the workforce and the resources that might be required in the future.
- Ease of use
- Integration with AWS Services
- ML and AI for better prediction
- High on Cost
- Lack in customization
- Limited availability of integration
- Integration with AWS
- Forecasting the upcoming usages
- ML and AI
- Helped in planning the resources required.
- ML and AI delivered near perfect forecasts.
- Features and the details available for the cost is not enough.
There was no other product or service that was considered before making the choice to go with Amazon Forecast as the forecasting that the company was looking for had everything running in the AWS environment, the choice had to be obvious. Integrating with Amazon Forecast also ensured that everything is under a single roof and we didn't have to go multiple places looking for data when needed.
April 26, 2022
A great all rounder if you can keep costs undercontrol
Forecasting and predicting future points in the supply chain, using historical data to estimate as accurately as possible the quantity of print and raw materials required for manufacturing and printing. We also experimented with both resource and operational planning to predict future staffing requirements and server capacity based on accelerated digital growth as a result of increased digital output that was required from COVID.
- Built-in datasets
- Accuracy
- Machine learning
- Potential very high costs
- Predicting ongoing running costs
- Very product focused
- Dataset importing
- Generating/predicting spike forecasts
- Training predictors
- It can definitely spike in costs if not heavily controlled internally via processes
- Has proven useful around digital resource forecasting, proving more accurate than traditional methods
- Had an unforeseen cost increase in terms of training internal users
Amazon Forecast immediately stood out for us during product evaluation due to our tech ops team having significant AWS experience. Having a relatively good understanding of the pricing tiers, environment setup, and an active tech ops team within AWS meant that there was a basic understanding of the UI, terms, and concepts compared to other products in the product evaluation stage.