Amazon Forecast
Description
🖼️ Tool Name:
Amazon Forecast
🔖 Tool Category:
AI-powered time-series forecasting service; it falls under the category of Forecasting & Applied ML, Analytics & Dashboards, and Integrations & APIs.
✏️ What does this tool offer?
Amazon Forecast is a fully managed AI service from AWS that generates highly accurate time-series forecasts using machine learning.
It is built for businesses that need demand planning, inventory forecasting, financial projections, and operational predictions — without requiring ML expertise.
⭐ What does the tool actually deliver based on user experience?
• Highly accurate demand forecasting
• ML models built automatically from historical data
• Forecasting for sales, inventory, staffing, energy usage, finance, etc.
• Integration with AWS S3, Redshift, RDS, and other data sources
• Multiple ML algorithms including DeepAR+, Prophet, NPTS
• Visual dashboards for prediction insights
• Automated model selection & tuning
• Ability to forecast thousands of items at once
• Scenario analysis and anomaly detection
• Easy API access for automated pipelines
🤖 Does it include automation?
Yes — Amazon Forecast is heavily automated:
• Automatic data ingestion & cleaning
• Automated model training and hyperparameter tuning
• Auto-selection of best ML algorithm
• Automated forecasting at scale
• API scheduling for continuous predictions
• Automatic accuracy evaluation (WAPE, RMSE, MASE)
💰 Pricing Model:
Pay-as-you-go (usage-based AWS pricing)
🆓 Free Plan Details:
AWS Free Tier includes:
• Up to 5,000 forecast predictions/month for 12 months
• Limited training hours
• Limited data ingestion
💳 Paid Plan Details:
Pricing depends on:
• Data ingestion (per GB)
• Model training hours
• Forecast query volume
• Storage usage
• No long-term commitment
• Enterprise-level scalability
🧭 Access Method:
• AWS Console
• AWS CLI
• AWS SDKs (Python, Java, JS..)
• Fully cloud-based
• Integrates with S3, Redshift, Athena, Lambda, Step Functions
🔗 Experience Link: