A great all rounder if you can keep costs undercontrol
Rating: 7 out of 10
IncentivizedUse 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.