Amazon Forecast

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Amazon Forecast
Score 8.9 out of 10
N/A
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.N/A
Pricing
Amazon Forecast
Editions & Modules
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Offerings
Pricing Offerings
Amazon Forecast
Free Trial
No
Free/Freemium Version
No
Premium Consulting/Integration Services
No
Entry-level Setup FeeNo setup fee
Additional Details
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Community Pulse
Amazon Forecast
Best Alternatives
Amazon Forecast
Small Businesses
InterSystems IRIS
InterSystems IRIS
Score 7.7 out of 10
Medium-sized Companies
Posit
Posit
Score 10.0 out of 10
Enterprises
Posit
Posit
Score 10.0 out of 10
All AlternativesView all alternatives
User Ratings
Amazon Forecast
Likelihood to Recommend
8.9
(0 ratings)
User Testimonials
Amazon Forecast
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.
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Pros
  • Develop benchmarks for use in future forecast.
  • Performs contingency planning during challenging financial times.
  • Anticipate the impact of new expanse.
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Cons
  • Potential very high costs
  • Predicting ongoing running costs
  • Very product focused
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Alternatives Considered
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.
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Return on Investment
  • Insights have been available much more quickly and well designed manner
  • Integration with other tools has been flawless
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