Amazon Forecast

Amazon Forecast is a powerful time-series forecasting service based on machine learning. It is designed to help businesses scale their operations by accurately forecasting millions of items, leveraging the same technology as Amazon.com. This enables businesses to optimize inventory, reduce waste, and improve in-stock availability by forecasting product demand at specific probability levels. In addition, it can be used for workforce planning, forecasting workforce staffing at 15-minute increments to optimize for high and low demand periods. It also helps in travel demand forecasting to more efficiently manage operating costs. The service is built for business metrics analysis and offers a practical solution for various industries. Existing customers can continue to use the service as normal, while new customers are no longer able to sign up. Amazon Forecast provides several ways to get started, including the AWS Free Tier for those looking to learn the fundamentals and build on AWS. It also offers the option to deploy recurring workflows with no-code using AWS CloudFormation and AWS Step Functions. Additionally, users can connect with an expert for the right support at the right time.