Audience
Anyone looking to improve forecasting without having any machine learning experience yet
About Amazon Forecast
Amazon Forecast is a fully managed service that uses machine learning to deliver highly accurate forecasts.
Companies today use everything from simple spreadsheets to complex financial planning software to attempt to accurately forecast future business outcomes such as product demand, resource needs, or financial performance. These tools build forecasts by looking at a historical series of data, which is called time series data. For example, such tools may try to predict the future sales of a raincoat by looking only at its previous sales data with the underlying assumption that the future is determined by the past. This approach can struggle to produce accurate forecasts for large sets of data that have irregular trends. Also, it fails to easily combine data series that change over time (such as price, discounts, web traffic, and number of employees) with relevant independent variables like product features and store locations.
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Nixtla
Nixtla is a platform for time-series forecasting and anomaly detection built around its flagship model TimeGPT, described as the first generative AI foundation model for time-series data. It was trained on over 100 billion data points spanning domains such as retail, energy, finance, IoT, healthcare, weather, web traffic, and more, allowing it to make accurate zero-shot predictions across a wide variety of use cases. With just a few lines of code (e.g., via their Python SDK), users can supply historical data and immediately generate forecasts or detect anomalies, even for irregular or sparse time series, and without needing to build or train models from scratch. TimeGPT supports advanced features like handling exogenous variables (e.g., events, prices), forecasting multiple time-series at once, custom loss functions, cross-validation, prediction intervals, and model fine-tuning on bespoke datasets.
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Pricing
Free Trial:
Free Trial available.
Integrations
Company Information
Amazon
Founded: 1994
United States
aws.amazon.com/forecast/
Videos and Screen Captures
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Product Details
Platforms Supported
Cloud
Training
Documentation
Support
Phone Support
Online
Amazon Forecast Frequently Asked Questions
Q: What kinds of users and organization types does Amazon Forecast work with?
Amazon Forecast works with these users and organization types: Mid Size Business, Small Business, Enterprise, Freelance, Nonprofit, Government, and Startup.
Q: What languages does Amazon Forecast support in their product?
Amazon Forecast supports these languages: English.
Q: What kind of support options does Amazon Forecast offer?
Amazon Forecast offers support via phone support and online.
Q: What other applications or services does Amazon Forecast integrate with?
Amazon Forecast integrates with: Amazon S3, AWS AI Services, and AWS App Mesh.
Q: What type of training does Amazon Forecast provide?
Amazon Forecast provides training in the form of documentation.
Q: Does Amazon Forecast offer a free trial?
Yes, Amazon Forecast offers a free trial.
Amazon Forecast Product Features
Sales Forecasting
Competitor Analysis
Supported
Correlation Analysis
Supported
Dashboard
Supported
Exception Reporting
Supported
Graphical Data Presentation
Supported
Modeling & Simulation
Supported
Sales Trend Analysis
Supported
Statistical Analysis
Supported
Dynamic Modeling
Not Supported
Performance Metrics
Not Supported
