Amazon Forecast Reviews and Ratings

Rating: 8.9 out of 10

Score

8.9 out of 10

Reviews

5 Reviews

Amazon Forecast Works For Us!

Rating: 9 out of 10

Incentivized

March 30, 2023

Use Cases and Deployment Scope

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.

Pros

Identifies key trends
Keeps track of historical data like sales, cashflow, inventory, etc.
Personalized forecasting model

Cons

Sometimes the program is glitchy and we'll need to log out and log in again

Likelihood to Recommend

I feel this product is strong for tracking and analyzing data. It's been extremely useful for making the best possible forecast model as it does learn and becomes stronger the more data it receives.

Verified User

Employee in Quality Assurance (1001-5000 employees)

Vetted Review

2 years of experience

For Accurate forecasts of your business

Rating: 8 out of 10

Incentivized

May 17, 2022

Use Cases and Deployment Scope

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.

Pros

Predictive Analysis of data for future use.
Single place to save and access a whole lot of data
Very fast and surprisingly accurate

Cons

Not easy for beginners as it requires insights to set the forecast
Much more expensive if considered for small businesses

Likelihood to Recommend

It can be well suited where data can be integrated from SAP or Oracle or from various spreadsheets and makes it much easier there to have better insights of data.

Varun Dhingra

Team Lead in Customer Service at Telus International (5001-10,000 employees)

Vetted Review

1 year of experience

Amazon Forecast review.

Rating: 10 out of 10

Incentivized

April 29, 2022

Use Cases and Deployment Scope

Amazon Forecast is a fully managed service that uses machine learning to deliver highly accurate forecasts. It helps to understand combined time-series data.

Pros

Develop benchmarks for use in future forecast.
Performs contingency planning during challenging financial times.
Anticipate the impact of new expanse.

Cons

It doesn't give 100% accurate result always.

Likelihood to Recommend

It's user-friendly and the best part is it gives more accurate results compared to other tools available on the market.

Verified User

Engineer in Engineering (10,001+ employees)

Vetted Review

2 years of experience

Amazon Forecast might be a good solution but comes with a hefty price tag

Rating: 7 out of 10

Incentivized

April 28, 2022

Use Cases and Deployment Scope

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.

Pros

Ease of use
Integration with AWS Services
ML and AI for better prediction

Cons

High on Cost
Lack in customization
Limited availability of integration

Likelihood to Recommend

Amazon Forecast is well suited when you are a company that's looking for a simple and effective solution in terms of understanding and predicting your resources planning in the AWS. However, it's also good to know that the cost that is incurred is higher and not suited for anything other than the AWS solutions integrations.

Srinivasan V Iyer

Senior Security Analyst in Information Technology at Radware (201-500 employees)

Vetted Review

1 year of experience

View profile

A great all rounder if you can keep costs undercontrol

Rating: 7 out of 10

Incentivized

April 26, 2022

Use Cases and Deployment Scope

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.

Pros

Built-in datasets
Accuracy
Machine learning

Cons

Potential very high costs
Predicting ongoing running costs
Very product focused

Likelihood to Recommend

I personally get the feeling that Amazon Forecast must have been a direct product released on the models Amazon themselves must have used at some port. Amazon Forecast definitely shines when using it for product demand, inventory, and pricing throughout store locations, etc. Everything, including data-set importing, works best in this context. When applying it to more edge cases like resource planning around events, it can be a bit more tricky to apply effectively.

Verified User

Manager in Information Technology (201-500 employees)

Vetted Review

1 year of experience

Loading Reviews List....

Home
,
Machine Learning
,
Amazon Forecast
,
Reviews and Ratings